Fly Leasing to announce $0.32 EPS, says Zacks

Fly Leasing has received an average broker rating score of 1.80 (Buy) from the five analysts that provide coverage for the company, says Zacks Investment Research. Two investment analysts have rated the stock with a hold rating and three have issued a strong buy rating on the company.

Brokerages have set a twelve-month consensus price target of $16.40 for the company and are forecasting that the company will post $0.32 EPS for the current quarter, according to Zacks. Zacks has also given Fly Leasing an industry rank of 41 out of 265 based on the ratings given to related companies.

Fly Leasing opened at 13.75 on Monday. Fly Leasing has a 1-year low of $10.86 and a 1-year high of $15.91. The stock has a 50-day moving average of $13.43 and a 200-day moving average of $13.48. The company has a market cap of $569.7 million and a P/E ratio of 10.84.

Fly Leasing last posted its quarterly earnings results on Thursday, November 13th. The company reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.05. The company had revenue of $105.50 million for the quarter, compared to the consensus estimate of $105.14 million. During the same quarter in the previous year, the company posted $0.07 earnings per share. The company’s revenue for the quarter was up 33.4% on a year-over-year basis. Analysts expect that Fly Leasing will post $1.30 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, February 20. Investors of record on Friday, January 30 will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 7.27%. The ex-dividend date of this dividend is Wednesday, January 28th.

Several analysts have recently commented on the stock. Analysts at Zacks downgraded shares of Fly Leasing from an “outperform” rating to a “neutral” rating and set a $14.40 price target on the stock in a research note on Tuesday, December 2. Separately, analysts at Bank of America upgraded shares of Fly Leasing from a “neutral” rating to a “buy” rating and set a $14.00 price target on the stock in a research note on Friday, November 14.