AerCap (NYSE:AER) Issues FY24 Earnings Guidance

AerCap (NYSE:AER) issued an update on its FY24 earnings guidance on Wednesday morning. The company provided EPS guidance of ~$9.20 for the period, compared to the consensus EPS estimate of $9.75. AerCap also updated its FY 2024 guidance to 9.200-9.200 EPS.

AerCap Price Performance

Shares of AER stock traded up $0.78 on Friday, reaching $87.60. The company’s stock had a trading volume of 1,137,735 shares, compared to its average volume of 1,540,155. AerCap has a 12-month low of $53.42 and a 12-month high of $88.54. The stock’s 50 day simple moving average is $83.94 and its 200-day simple moving average is $75.54. The company has a quick ratio of 0.33, a current ratio of 0.26 and a debt-to-equity ratio of 2.70. The company has a market capitalization of $17.34 billion, a P/E ratio of 5.70, a PEG ratio of 2.97 and a beta of 1.84.

AerCap (NYSE:AER) last announced its earnings results on Wednesday, May 1st. The financial services provider reported $3.29 earnings per share for the quarter, beating analysts’ consensus estimates of $2.31 by $0.98. AerCap had a net margin of 42.78% and a return on equity of 15.29%. The business had revenue of $2.02 billion for the quarter, compared to the consensus estimate of $1.95 billion. During the same period last year, the firm posted $2.34 earnings per share. AerCap’s quarterly revenue was up 8.1% on a year-over-year basis. As a group, equities analysts predict that AerCap will post 9.2 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have weighed in on AER shares. Barclays boosted their price target on shares of AerCap from $93.00 to $94.00 and gave the stock an overweight rating in a research note on Thursday. Susquehanna boosted their target price on AerCap from $90.00 to $100.00 and gave the company a positive rating in a research note on Thursday. TD Cowen raised their price target on AerCap from $95.00 to $100.00 and gave the stock a buy rating in a research report on Thursday. Finally, BMO Capital Markets lowered their price objective on AerCap from $103.00 to $101.00 and set an outperform rating for the company in a research report on Monday, February 26th. Eight equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has an average rating of Buy and an average target price of $91.43.

AerCap Company Profile

AerCap Holdings N.V. engages in the lease, financing, sale, and management of commercial flight equipment in China, Hong Kong, Macau, the United States, Ireland, and internationally. The company offers aircraft asset management services, such as remarketing aircraft and engines; collecting rental and maintenance rent payments, monitoring aircraft maintenance, monitoring and enforcing contract compliance, and accepting delivery and redelivery of aircraft and engines; and conducting ongoing lessee financial performance reviews.