According to Zacks, “Fly Leasing Limited, formerly known as Babcock & Brown Air Limited, is engaged in acquiring and leasing modern, high-demand and fuel-efficient commercial jet aircraft under long-term contracts to a diverse group of airlines throughout the world. The Company’s strategy is to effectively manage its fleet and grow its portfolio through accretive acquisitions of aircraft. FLY Leasing is managed and serviced by BBAM L.P., an aircraft leasing company. BBAM acts as manager of FLY Leasing and servicer of the aircraft portfolio under multi-year management and servicing agreements. In addition to arranging for the leasing of the fleet, BBAM assists in the acquiring and disposing of aircraft, marketeering aircraft for lease and release, collecting rents and other payments from the lessees of aircraft, monitoring maintenance, insurance and other obligations under leases, and enforcing FLY Leasing’s rights against lessees. BBAM is an independent company. FLY Leasing Limited is headquartered in Dublin, Ireland. “
FLY has been the topic of a number of other reports. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Fly Leasing from $10.00 to $13.00 and gave the company a “hold” rating in a research note on Friday, March 19th. JPMorgan Chase & Co. lowered Fly Leasing from an “overweight” rating to an “underweight” rating in a report on Thursday, April 1st. Cowen lowered Fly Leasing from an “outperform” rating to a “market perform” rating and set a $17.05 target price on the stock. in a report on Monday, April 5th. Finally, TheStreet lowered Fly Leasing from a “c-” rating to a “d” rating in a report on Friday, February 26th. One equities research analyst has rated the stock with a sell rating and three have issued a hold rating to the company. The company has a consensus rating of “Hold” and an average price target of $14.76.
Fly Leasing (NYSE:FLY) last issued its quarterly earnings data on Thursday, February 25th. The transportation company reported ($0.01) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.12. Fly Leasing had a net margin of 27.60% and a return on equity of 13.81%. The business had revenue of $72.75 million for the quarter, compared to analysts’ expectations of $68.45 million. As a group, analysts expect that Fly Leasing will post 1.39 EPS for the current year.
Several institutional investors and hedge funds have recently made changes to their positions in the business. Henry James International Management Inc. purchased a new stake in shares of Fly Leasing in the 1st quarter valued at approximately $843,000. VR Advisory Services Ltd purchased a new stake in shares of Fly Leasing in the 4th quarter valued at approximately $654,000. Mercer Global Advisors Inc. ADV lifted its position in shares of Fly Leasing by 43.6% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 58,227 shares of the transportation company’s stock valued at $574,000 after acquiring an additional 17,672 shares in the last quarter. Renaissance Technologies LLC purchased a new stake in shares of Fly Leasing in the 4th quarter valued at approximately $670,000. Finally, HighTower Advisors LLC purchased a new stake in shares of Fly Leasing in the 4th quarter valued at approximately $412,000. Institutional investors own 34.75% 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, 2020, it had a portfolio of 84 aircraft, including 75 narrow-body passenger aircraft and nine wide-body passenger aircraft, as well as seven engines.
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