Fly Leasing (NYSE:FLY) Posts Earnings Results, Beats Expectations By $0.47 EPS

Fly Leasing (NYSE:FLY) released its earnings results on Thursday. The transportation company reported $1.92 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.45 by $0.47, Morningstar.com reports. Fly Leasing had a net margin of 29.64% and a return on equity of 22.99%. The firm had revenue of $147.00 million for the quarter, compared to analyst estimates of $140.40 million. During the same period in the prior year, the firm earned $0.90 earnings per share. The business’s quarterly revenue was up 43.1% compared to the same quarter last year.

Shares of Fly Leasing stock opened at $20.00 on Friday. The firm has a market capitalization of $569.65 million, a P/E ratio of 6.54 and a beta of 0.92. Fly Leasing has a 52 week low of $10.42 and a 52 week high of $21.24. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 3.86. The firm’s 50 day moving average is $17.23 and its two-hundred day moving average is $15.14.

A number of analysts recently weighed in on the stock. ValuEngine upgraded shares of Fly Leasing from a “sell” rating to a “hold” rating in a research note on Thursday. Zacks Investment Research lowered shares of Fly Leasing from a “buy” rating to a “hold” rating in a research note on Friday, July 26th.

A number of institutional investors have recently made changes to their positions in the business. Parallel Advisors LLC increased its stake in Fly Leasing by 211.0% in the second quarter. Parallel Advisors LLC now owns 1,813 shares of the transportation company’s stock valued at $32,000 after purchasing an additional 1,230 shares during the last quarter. Renaissance Group LLC boosted its holdings in shares of Fly Leasing by 2.5% in the first quarter. Renaissance Group LLC now owns 58,100 shares of the transportation company’s stock valued at $804,000 after acquiring an additional 1,420 shares during the period. SFE Investment Counsel boosted its holdings in shares of Fly Leasing by 2.0% in the first quarter. SFE Investment Counsel now owns 106,435 shares of the transportation company’s stock valued at $1,473,000 after acquiring an additional 2,050 shares during the period. Zazove Associates LLC boosted its holdings in shares of Fly Leasing by 3.8% in the second quarter. Zazove Associates LLC now owns 104,894 shares of the transportation company’s stock valued at $1,826,000 after acquiring an additional 3,828 shares during the period. Finally, Monarch Partners Asset Management LLC boosted its holdings in shares of Fly Leasing by 2.9% in the second quarter. Monarch Partners Asset Management LLC now owns 171,795 shares of the transportation company’s stock valued at $2,991,000 after acquiring an additional 4,810 shares during the period. Institutional investors own 42.06% of the company’s stock.

About Fly Leasing

Fly Leasing Limited, through its subsidiaries, purchases and leases commercial aircraft under multi-year contracts to various airlines worldwide. As of December 31, 2018, it had a portfolio of 101 aircraft, including 90 narrow-body passenger aircraft and 11 wide-body passenger aircraft, as well as 7 engines.

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Earnings History for Fly Leasing (NYSE:FLY)

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