Brokerages Set Fly Leasing Ltd (FLY) PT at $15.88

Shares of Fly Leasing Ltd (NYSE:FLY) have received an average rating of “Hold” from the eight ratings firms that are covering the firm, MarketBeat reports. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $15.88.

A number of brokerages recently issued reports on FLY. JPMorgan Chase raised their price target on Fly Leasing from $14.00 to $15.00 and gave the stock an “underweight” rating in a research report on Tuesday, March 6th. Zacks Investment Research downgraded Fly Leasing from a “buy” rating to a “hold” rating in a research report on Monday, March 19th. Finally, ValuEngine downgraded Fly Leasing from a “buy” rating to a “hold” rating in a research report on Wednesday, January 3rd.

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Large investors have recently added to or reduced their stakes in the company. California Public Employees Retirement System lifted its position in shares of Fly Leasing by 5.0% during the fourth quarter. California Public Employees Retirement System now owns 117,320 shares of the transportation company’s stock worth $1,515,000 after purchasing an additional 5,542 shares during the last quarter. OxFORD Asset Management LLP bought a new stake in shares of Fly Leasing during the third quarter worth $706,000. Virtu Financial LLC lifted its position in shares of Fly Leasing by 35.0% during the fourth quarter. Virtu Financial LLC now owns 17,173 shares of the transportation company’s stock worth $222,000 after purchasing an additional 4,451 shares during the last quarter. Monarch Partners Asset Management LLC lifted its position in shares of Fly Leasing by 35.0% during the fourth quarter. Monarch Partners Asset Management LLC now owns 46,140 shares of the transportation company’s stock worth $596,000 after purchasing an additional 11,950 shares during the last quarter. Finally, Aperio Group LLC lifted its position in shares of Fly Leasing by 6.4% during the fourth quarter. Aperio Group LLC now owns 98,432 shares of the transportation company’s stock worth $1,271,000 after purchasing an additional 5,920 shares during the last quarter. Institutional investors and hedge funds own 45.31% of the company’s stock.

FLY traded up $0.02 during trading on Wednesday, reaching $13.36. The company had a trading volume of 7,702 shares, compared to its average volume of 138,687. The company has a market cap of $382.83, a PE ratio of 148.22, a P/E/G ratio of 0.65 and a beta of 0.87. Fly Leasing has a 52 week low of $11.54 and a 52 week high of $14.65. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 4.87.

Fly Leasing (NYSE:FLY) last issued its quarterly earnings results on Thursday, March 8th. The transportation company reported $0.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.28). The company had revenue of $107.93 million during the quarter, compared to the consensus estimate of $106.96 million. Fly Leasing had a return on equity of 2.74% and a net margin of 0.74%. The firm’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.95 earnings per share. research analysts anticipate that Fly Leasing will post 2.04 earnings per share for the current fiscal year.

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About Fly Leasing

Fly Leasing Limited, through its subsidiaries, purchases and leases commercial aircrafts under multi-year contracts to various airlines worldwide. As of December 31, 2017, the company had a portfolio of 85 aircrafts, including 73 narrow-body passenger aircrafts and 12 wide-body passenger aircrafts. Fly Leasing Limited was founded in 2007 and is headquartered in Dún Laoghaire, Ireland.

Analyst Recommendations for Fly Leasing (NYSE:FLY)

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