AerSale (NASDAQ:ASLE) Releases Quarterly Earnings Results, Misses Estimates By $0.06 EPS

AerSale (NASDAQ:ASLE) released its earnings results on Thursday. The company reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.06), FiscalAI reports. The firm had revenue of $71.19 million during the quarter, compared to the consensus estimate of $93.86 million. AerSale had a return on equity of 2.09% and a net margin of 1.73%.

AerSale Stock Down 12.2%

Shares of AerSale stock traded down $0.85 during midday trading on Friday, hitting $6.14. The company had a trading volume of 1,543,319 shares, compared to its average volume of 298,159. AerSale has a 52-week low of $5.34 and a 52-week high of $9.12. The stock has a market capitalization of $289.69 million, a P/E ratio of 47.23 and a beta of 0.24. The company has a 50 day moving average of $7.95 and a 200 day moving average of $7.07. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.82 and a current ratio of 3.87.

Institutional Trading of AerSale

A number of institutional investors and hedge funds have recently bought and sold shares of ASLE. Amundi bought a new position in shares of AerSale in the first quarter worth approximately $161,000. Jane Street Group LLC boosted its stake in AerSale by 1,250.8% during the 1st quarter. Jane Street Group LLC now owns 174,543 shares of the company’s stock valued at $1,307,000 after purchasing an additional 161,622 shares during the last quarter. American Century Companies Inc. boosted its stake in AerSale by 165.1% during the 2nd quarter. American Century Companies Inc. now owns 234,335 shares of the company’s stock valued at $1,408,000 after purchasing an additional 145,931 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in shares of AerSale by 1.6% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 275,022 shares of the company’s stock worth $1,653,000 after purchasing an additional 4,416 shares in the last quarter. Finally, Invesco Ltd. raised its stake in shares of AerSale by 4.1% in the second quarter. Invesco Ltd. now owns 92,867 shares of the company’s stock worth $558,000 after purchasing an additional 3,652 shares during the last quarter. 69.48% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have commented on ASLE. Weiss Ratings reissued a “hold (c-)” rating on shares of AerSale in a research note on Wednesday, October 8th. Wall Street Zen upgraded shares of AerSale from a “buy” rating to a “strong-buy” rating in a research report on Sunday, November 2nd. Royal Bank Of Canada raised their price objective on AerSale from $7.00 to $8.00 and gave the company a “sector perform” rating in a research note on Thursday, August 7th. Truist Financial boosted their target price on AerSale from $6.00 to $7.00 and gave the company a “hold” rating in a research note on Wednesday, October 15th. Finally, Zacks Research lowered shares of AerSale from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 8th. Five investment analysts have rated the stock with a Hold rating, According to MarketBeat.com, AerSale has an average rating of “Hold” and an average price target of $7.50.

About AerSale

AerSale Corporation provides aftermarket commercial aircraft, engines, and its parts to passenger and cargo airlines, leasing companies, original equipment manufacturers, and government and defense contractors, as well as maintenance, repair, and overhaul (MRO) service providers worldwide. It operates in two segments, Asset Management Solutions and Technical Operations (TechOps).