Fly Leasing Limited (FLY) Expected to Announce Earnings of $0.37 Per Share

Equities research analysts predict that Fly Leasing Limited (NYSE:FLY) will report earnings of $0.37 per share for the current fiscal quarter, according to Zacks. Three analysts have issued estimates for Fly Leasing Limited’s earnings, with the highest EPS estimate coming in at $0.45 and the lowest estimate coming in at $0.28. Fly Leasing Limited reported earnings of $0.53 per share in the same quarter last year, which suggests a negative year-over-year growth rate of 30.2%. The business is expected to announce its next earnings results before the market opens on Thursday, November 16th.

According to Zacks, analysts expect that Fly Leasing Limited will report full-year earnings of $1.01 per share for the current year, with EPS estimates ranging from $0.80 to $1.24. For the next financial year, analysts expect that the business will report earnings of $2.08 per share, with EPS estimates ranging from $1.90 to $2.40. Zacks Investment Research’s EPS averages are a mean average based on a survey of research firms that cover Fly Leasing Limited.

Fly Leasing Limited (NYSE:FLY) last posted its quarterly earnings results on Thursday, August 10th. The transportation company reported $0.31 EPS for the quarter, topping the consensus estimate of $0.29 by $0.02. Fly Leasing Limited had a negative net margin of 9.68% and a positive return on equity of 11.37%. The company had revenue of $79.21 million during the quarter, compared to analysts’ expectations of $83.17 million. During the same quarter in the previous year, the business posted $0.45 EPS. The firm’s revenue was up 3.8% on a year-over-year basis.

A number of analysts have recently weighed in on FLY shares. ValuEngine raised shares of Fly Leasing Limited from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, June 27th. Zacks Investment Research raised shares of Fly Leasing Limited from a “sell” rating to a “hold” rating in a research report on Monday, July 17th. BidaskClub raised shares of Fly Leasing Limited from a “hold” rating to a “buy” rating in a research report on Wednesday, July 19th. Cowen and Company reissued a “buy” rating and set a $16.00 price target on shares of Fly Leasing Limited in a research report on Tuesday, September 19th. Finally, Compass Point reissued a “buy” rating and set a $19.00 price target (up previously from $17.00) on shares of Fly Leasing Limited in a research report on Tuesday, October 3rd. Three investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. Fly Leasing Limited currently has an average rating of “Buy” and an average price target of $17.60.

Fly Leasing Limited (NYSE FLY) traded down 0.56% on Friday, reaching $14.33. 38,555 shares of the company’s stock traded hands. The stock has a 50-day moving average of $13.84 and a 200 day moving average of $13.39. Fly Leasing Limited has a 52 week low of $11.85 and a 52 week high of $14.65. The firm’s market capitalization is $432.39 million.

Several hedge funds have recently added to or reduced their stakes in the company. Morgan Stanley grew its position in shares of Fly Leasing Limited by 9.0% during the first quarter. Morgan Stanley now owns 1,167,042 shares of the transportation company’s stock worth $15,312,000 after buying an additional 96,040 shares in the last quarter. Uniplan Investment Counsel Inc. grew its position in shares of Fly Leasing Limited by 27.7% during the second quarter. Uniplan Investment Counsel Inc. now owns 512,759 shares of the transportation company’s stock worth $6,896,000 after buying an additional 111,372 shares in the last quarter. Russell Investments Group Ltd. grew its position in shares of Fly Leasing Limited by 44.1% during the second quarter. Russell Investments Group Ltd. now owns 247,957 shares of the transportation company’s stock worth $3,335,000 after buying an additional 75,926 shares in the last quarter. Goldman Sachs Group Inc. grew its position in shares of Fly Leasing Limited by 630.0% during the second quarter. Goldman Sachs Group Inc. now owns 194,005 shares of the transportation company’s stock worth $2,609,000 after buying an additional 167,430 shares in the last quarter. Finally, Berson & Corrado Investment Advisors LLC grew its position in shares of Fly Leasing Limited by 31.2% during the second quarter. Berson & Corrado Investment Advisors LLC now owns 181,595 shares of the transportation company’s stock worth $2,442,000 after buying an additional 43,230 shares in the last quarter. 46.90% of the stock is owned by institutional investors and hedge funds.

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About Fly Leasing Limited

Fly Leasing Limited is engaged in purchasing commercial aircraft, which it leases under multi-year contracts to a range of airlines throughout the world. The Company primarily acquires aircraft by entering into purchase and leaseback transactions with airlines for new aircraft; purchasing portfolios, which consists of aircraft of various types and ages, and acquiring individual aircraft.

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