Fly Leasing Ltd (FLY) Expected to Announce Quarterly Sales of $100.53 Million

Analysts expect Fly Leasing Ltd (NYSE:FLY) to report sales of $100.53 million for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for Fly Leasing’s earnings. The lowest sales estimate is $100.16 million and the highest is $100.90 million. Fly Leasing reported sales of $86.22 million during the same quarter last year, which suggests a positive year-over-year growth rate of 16.6%. The business is expected to announce its next earnings results on Thursday, November 8th.

According to Zacks, analysts expect that Fly Leasing will report full year sales of $403.13 million for the current year, with estimates ranging from $399.81 million to $406.10 million. For the next fiscal year, analysts forecast that the firm will post sales of $453.50 million, with estimates ranging from $435.37 million to $475.60 million. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that follow Fly Leasing.

Fly Leasing (NYSE:FLY) last announced its earnings results on Thursday, August 23rd. The transportation company reported $0.87 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.18. The business had revenue of $99.30 million during the quarter, compared to analyst estimates of $98.62 million. Fly Leasing had a net margin of 7.43% and a return on equity of 5.79%. The company’s quarterly revenue was up 25.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.31 EPS.

A number of equities research analysts have weighed in on FLY shares. Zacks Investment Research upgraded shares of Fly Leasing from a “hold” rating to a “buy” rating and set a $17.00 target price for the company in a research note on Friday, August 24th. ValuEngine upgraded shares of Fly Leasing from a “hold” rating to a “buy” rating in a research note on Tuesday, May 29th. Citigroup boosted their target price on shares of Fly Leasing from $14.00 to $14.50 and gave the company a “sell” rating in a research note on Friday, August 24th. Finally, TheStreet upgraded shares of Fly Leasing from a “d+” rating to a “c-” rating in a research note on Wednesday, September 19th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $19.10.

FLY traded down $0.32 during mid-day trading on Friday, reaching $13.97. 71,500 shares of the company traded hands, compared to its average volume of 114,581. The firm has a market cap of $411.53 million, a PE ratio of 158.11, a P/E/G ratio of 0.62 and a beta of 1.05. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 4.29. Fly Leasing has a 52-week low of $11.54 and a 52-week high of $15.32.

Several large investors have recently bought and sold shares of the company. Uniplan Investment Counsel Inc. increased its stake in shares of Fly Leasing by 1.5% in the 1st quarter. Uniplan Investment Counsel Inc. now owns 543,957 shares of the transportation company’s stock worth $7,240,000 after purchasing an additional 7,815 shares in the last quarter. Dalton Greiner Hartman Maher & Co. increased its stake in shares of Fly Leasing by 42.9% in the 2nd quarter. Dalton Greiner Hartman Maher & Co. now owns 408,329 shares of the transportation company’s stock worth $5,753,000 after purchasing an additional 122,631 shares in the last quarter. Russell Investments Group Ltd. increased its stake in shares of Fly Leasing by 35.5% in the 1st quarter. Russell Investments Group Ltd. now owns 375,692 shares of the transportation company’s stock worth $5,001,000 after purchasing an additional 98,431 shares in the last quarter. US Bancorp DE increased its stake in shares of Fly Leasing by 2.1% in the 2nd quarter. US Bancorp DE now owns 349,179 shares of the transportation company’s stock worth $4,920,000 after purchasing an additional 7,050 shares in the last quarter. Finally, Point72 Asset Management L.P. increased its stake in shares of Fly Leasing by 110.0% in the 2nd quarter. Point72 Asset Management L.P. now owns 287,453 shares of the transportation company’s stock worth $4,050,000 after purchasing an additional 150,603 shares in the last quarter. Hedge funds and other institutional investors own 49.15% of the company’s stock.

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.

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