Fly Leasing Ltd (FLY) Posts Quarterly Earnings Results, Beats Estimates By $0.38 EPS

Fly Leasing Ltd (NYSE:FLY) issued its earnings results on Thursday. The company reported $0.95 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.57 by $0.38. Fly Leasing had a net margin of 16.48% and a return on equity of 17.29%. The firm earned $100.60 million during the quarter, compared to analysts’ expectations of $95.77 million. During the same quarter last year, the company posted $1.54 earnings per share. The firm’s revenue was down 18.6% compared to the same quarter last year.

Shares of Fly Leasing (NYSE:FLY) traded down 0.86% during mid-day trading on Friday, hitting $12.73. 105,726 shares of the stock traded hands. Fly Leasing has a 12-month low of $9.54 and a 12-month high of $14.45. The firm’s market cap is $410.62 million. The firm’s 50 day moving average price is $13.68 and its 200 day moving average price is $13.12.

Earnings History for Fly Leasing (NYSE:FLY)

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A number of hedge funds have recently added to or reduced their stakes in FLY. Berson & Corrado Investment Advisors LLC increased its stake in Fly Leasing by 61.0% in the first quarter. Berson & Corrado Investment Advisors LLC now owns 138,365 shares of the company’s stock valued at $1,815,000 after buying an additional 52,415 shares during the period. Numeric Investors LLC increased its stake in Fly Leasing by 96.4% in the fourth quarter. Numeric Investors LLC now owns 259,323 shares of the company’s stock valued at $3,449,000 after buying an additional 127,276 shares during the period. Two Sigma Investments LP increased its stake in Fly Leasing by 0.4% in the fourth quarter. Two Sigma Investments LP now owns 98,713 shares of the company’s stock valued at $1,313,000 after buying an additional 409 shares during the period. GSA Capital Partners LLP increased its stake in Fly Leasing by 38.5% in the fourth quarter. GSA Capital Partners LLP now owns 16,561 shares of the company’s stock valued at $220,000 after buying an additional 4,600 shares during the period. Finally, Renaissance Technologies LLC increased its stake in Fly Leasing by 181.9% in the fourth quarter. Renaissance Technologies LLC now owns 350,084 shares of the company’s stock valued at $4,656,000 after buying an additional 225,884 shares during the period. Hedge funds and other institutional investors own 52.70% of the company’s stock.

Several analysts recently commented on FLY shares. Zacks Investment Research upgraded shares of Fly Leasing from a “hold” rating to a “strong-buy” rating and set a $16.00 price target on the stock in a research report on Tuesday, February 21st. Royal Bank of Canada restated a “buy” rating and set a $24.00 price target on shares of Fly Leasing in a research report on Friday, January 6th. TheStreet lowered shares of Fly Leasing from a “c” rating to a “d” rating in a research report on Thursday, March 9th. Finally, Compass Point started coverage on shares of Fly Leasing in a research report on Wednesday, January 4th. They set a “neutral” rating and a $16.50 price target on the stock. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $17.21.

Fly Leasing Company Profile

Fly Leasing Limited is engaged in purchasing commercial aircraft, which it leases under multi-year contracts to a range of airlines. The Company operates through aircraft leasing segment. 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.

5 Day Chart for NYSE:FLY

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