Aircastle Limited (AYR) Expected to Announce Earnings of $0.64 Per Share

Analysts expect Aircastle Limited (NYSE:AYR) to report $0.64 earnings per share (EPS) for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for Aircastle’s earnings, with the highest EPS estimate coming in at $0.72 and the lowest estimate coming in at $0.55. Aircastle posted earnings of $0.67 per share in the same quarter last year, which would suggest a negative year-over-year growth rate of 4.5%. The company is scheduled to issue its next quarterly earnings results on Tuesday, August 6th.

On average, analysts expect that Aircastle will report full-year earnings of $2.23 per share for the current financial year, with EPS estimates ranging from $1.65 to $2.79. For the next fiscal year, analysts anticipate that the firm will report earnings of $2.57 per share, with EPS estimates ranging from $1.70 to $3.00. Zacks’ earnings per share calculations are an average based on a survey of research firms that cover Aircastle.

Aircastle (NYSE:AYR) last released its earnings results on Thursday, May 2nd. The transportation company reported $0.52 EPS for the quarter, beating the consensus estimate of $0.45 by $0.07. Aircastle had a net margin of 24.90% and a return on equity of 11.36%. The firm had revenue of $213.93 million for the quarter, compared to analyst estimates of $202.84 million. During the same period last year, the firm earned $0.72 EPS. The business’s quarterly revenue was up 5.5% compared to the same quarter last year.

Several equities analysts have commented on the stock. Zacks Investment Research lowered shares of Aircastle from a “buy” rating to a “hold” rating in a report on Thursday, May 2nd. ValuEngine lowered shares of Aircastle from a “hold” rating to a “sell” rating in a report on Tuesday, April 9th. TheStreet raised shares of Aircastle from a “c+” rating to a “b-” rating in a report on Thursday, January 31st. Goldman Sachs Group began coverage on shares of Aircastle in a report on Monday, April 8th. They issued a “sell” rating and a $18.00 target price on the stock. Finally, Bank of America lowered shares of Aircastle from a “neutral” rating to an “underperform” rating and decreased their price target for the company from $23.00 to $20.00 in a report on Thursday, February 14th. Three equities research analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company’s stock. Aircastle has an average rating of “Hold” and an average price target of $21.50.

In related news, insider Michael Kriedberg sold 35,000 shares of Aircastle stock in a transaction that occurred on Monday, February 25th. The shares were sold at an average price of $20.45, for a total transaction of $715,750.00. Following the sale, the insider now directly owns 180,968 shares of the company’s stock, valued at approximately $3,700,795.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 2.10% of the company’s stock.

Several institutional investors have recently made changes to their positions in the stock. IFP Advisors Inc boosted its position in Aircastle by 96.3% during the 4th quarter. IFP Advisors Inc now owns 2,038 shares of the transportation company’s stock worth $35,000 after buying an additional 1,000 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Aircastle by 29.8% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,560 shares of the transportation company’s stock worth $79,000 after buying an additional 1,048 shares during the period. Hussman Strategic Advisors Inc. acquired a new stake in Aircastle during the 1st quarter worth approximately $81,000. Advisor Group Inc. boosted its position in Aircastle by 82.1% during the 4th quarter. Advisor Group Inc. now owns 7,848 shares of the transportation company’s stock worth $134,000 after buying an additional 3,538 shares during the period. Finally, Thrivent Financial for Lutherans acquired a new stake in Aircastle during the 3rd quarter worth approximately $203,000. 58.02% of the stock is currently owned by institutional investors.

AYR stock traded down $0.21 during mid-day trading on Friday, hitting $19.42. The stock had a trading volume of 5,873 shares, compared to its average volume of 330,281. Aircastle has a 52 week low of $15.75 and a 52 week high of $23.14. The firm has a market cap of $1.48 billion, a P/E ratio of 6.11 and a beta of 1.68.

The business also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Friday, May 31st will be issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 6.18%. The ex-dividend date of this dividend is Thursday, May 30th. Aircastle’s dividend payout ratio (DPR) is presently 37.85%.

About Aircastle

Aircastle Limited, through its subsidiaries, leases, finances, sells, and manages commercial flight equipment to airlines worldwide. As of December 31, 2018, its aircraft portfolio comprised 261 aircraft leased to 81 lessees located in 44 countries. Aircastle Limited was founded in 2004 and is based in Stamford, Connecticut.

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