Brokerages Expect Aircastle Limited (AYR) Will Announce Quarterly Sales of $206.71 Million

Analysts forecast that Aircastle Limited (NYSE:AYR) will announce $206.71 million in sales for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for Aircastle’s earnings, with the lowest sales estimate coming in at $205.39 million and the highest estimate coming in at $208.02 million. Aircastle posted sales of $202.68 million in the same quarter last year, which would indicate a positive year over year growth rate of 2%. The firm is expected to issue its next earnings results on Thursday, May 2nd.

On average, analysts expect that Aircastle will report full-year sales of $867.62 million for the current financial year, with estimates ranging from $850.48 million to $884.76 million. For the next financial year, analysts anticipate that the business will post sales of $969.27 million, with estimates ranging from $906.56 million to $1.03 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that that provide coverage for Aircastle.

Aircastle (NYSE:AYR) last posted its quarterly earnings results on Tuesday, February 12th. The transportation company reported $1.43 EPS for the quarter, beating the consensus estimate of $1.42 by $0.01. Aircastle had a net margin of 27.77% and a return on equity of 12.57%. The company had revenue of $292.60 million for the quarter, compared to analyst estimates of $282.86 million. During the same period in the prior year, the company earned $0.72 earnings per share. The firm’s revenue was up 48.8% on a year-over-year basis.

A number of research analysts have weighed in on AYR shares. TheStreet upgraded shares of Aircastle from a “c+” rating to a “b-” rating in a research report on Thursday, January 31st. Zacks Investment Research upgraded shares of Aircastle from a “hold” rating to a “buy” rating and set a $23.00 price objective for the company in a research report on Wednesday, March 20th. ValuEngine upgraded shares of Aircastle from a “sell” rating to a “hold” rating in a research report on Tuesday, March 12th. Goldman Sachs Group started coverage on shares of Aircastle in a research report on Monday, April 8th. They issued a “sell” rating and a $18.00 price objective for the company. Finally, Bank of America downgraded shares of Aircastle from a “neutral” rating to an “underperform” rating and decreased their price objective for the stock from $23.00 to $20.00 in a research report on Thursday, February 14th. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company’s stock. Aircastle presently has an average rating of “Hold” and a consensus price target of $21.86.

In other Aircastle news, insider Michael Kriedberg sold 35,000 shares of the company’s stock in a transaction dated Monday, February 25th. The shares were sold at an average price of $20.45, for a total value of $715,750.00. Following the completion of the transaction, the insider now owns 180,968 shares in the company, valued at $3,700,795.60. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 1.80% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Brandywine Global Investment Management LLC raised its position in shares of Aircastle by 7.3% during the 4th quarter. Brandywine Global Investment Management LLC now owns 267,138 shares of the transportation company’s stock worth $4,606,000 after purchasing an additional 18,174 shares during the last quarter. New York State Common Retirement Fund raised its position in shares of Aircastle by 20.9% during the 4th quarter. New York State Common Retirement Fund now owns 65,600 shares of the transportation company’s stock worth $1,131,000 after purchasing an additional 11,330 shares during the last quarter. United Services Automobile Association raised its position in shares of Aircastle by 17.8% during the 4th quarter. United Services Automobile Association now owns 21,888 shares of the transportation company’s stock worth $377,000 after purchasing an additional 3,313 shares during the last quarter. Teachers Advisors LLC raised its position in shares of Aircastle by 3.2% during the 3rd quarter. Teachers Advisors LLC now owns 100,239 shares of the transportation company’s stock worth $2,196,000 after purchasing an additional 3,068 shares during the last quarter. Finally, BlackRock Inc. raised its position in shares of Aircastle by 10.8% during the 3rd quarter. BlackRock Inc. now owns 3,857,465 shares of the transportation company’s stock worth $84,518,000 after purchasing an additional 376,008 shares during the last quarter. Hedge funds and other institutional investors own 58.70% of the company’s stock.

Shares of Aircastle stock traded down $0.13 during trading hours on Friday, reaching $19.97. The stock had a trading volume of 187,036 shares, compared to its average volume of 334,768. The company has a market cap of $1.50 billion, a P/E ratio of 6.30 and a beta of 1.72. Aircastle has a twelve month low of $15.75 and a twelve month high of $23.14.

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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