Wall Street analysts expect Aircastle Limited (NYSE:AYR) to post sales of $194.60 million for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for Aircastle’s earnings, with estimates ranging from $193.56 million to $195.50 million. Aircastle reported sales of $223.53 million in the same quarter last year, which would suggest a negative year over year growth rate of 12.9%. The business is scheduled to issue its next earnings results on Tuesday, August 14th.
According to Zacks, analysts expect that Aircastle will report full year sales of $797.55 million for the current financial year, with estimates ranging from $783.98 million to $805.20 million. For the next fiscal year, analysts expect that the business will post sales of $874.90 million per share, with estimates ranging from $811.48 million to $913.00 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Aircastle.
Aircastle (NYSE:AYR) last released its quarterly earnings results on Thursday, May 3rd. The transportation company reported $0.72 earnings per share for the quarter, topping analysts’ consensus estimates of $0.43 by $0.29. The business had revenue of $202.70 million during the quarter, compared to analysts’ expectations of $184.73 million. Aircastle had a return on equity of 9.05% and a net margin of 20.50%. The company’s revenue was down 1.1% compared to the same quarter last year. During the same period in the prior year, the business posted $0.58 EPS.
Several equities analysts recently issued reports on the company. ValuEngine lowered Aircastle from a “hold” rating to a “sell” rating in a research note on Friday, June 1st. Deutsche Bank increased their target price on Aircastle from $23.00 to $24.00 and gave the stock a “hold” rating in a research note on Friday, May 4th. Zacks Investment Research raised Aircastle from a “strong sell” rating to a “hold” rating in a research note on Tuesday, April 17th. JPMorgan Chase & Co. decreased their target price on Aircastle from $25.00 to $24.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 6th. Finally, Macquarie assumed coverage on Aircastle in a research note on Tuesday, March 13th. They set an “outperform” rating on the stock. They noted that the move was a valuation call. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $24.38.
In other Aircastle news, major shareholder Teachers Pension Plan Ontario sold 7,887,029 shares of the stock in a transaction dated Friday, May 18th. The stock was sold at an average price of $21.23, for a total value of $167,441,625.67. The transaction was disclosed in a document filed with the SEC, which is available at this link. 1.80% of the stock is owned by company insiders.
A number of hedge funds have recently bought and sold shares of the business. UBS Asset Management Americas Inc. raised its position in Aircastle by 7.0% in the 4th quarter. UBS Asset Management Americas Inc. now owns 43,560 shares of the transportation company’s stock valued at $1,019,000 after purchasing an additional 2,840 shares in the last quarter. Affinity Investment Advisors LLC raised its position in Aircastle by 34.9% in the 1st quarter. Affinity Investment Advisors LLC now owns 16,587 shares of the transportation company’s stock valued at $329,000 after purchasing an additional 4,294 shares in the last quarter. Swiss National Bank raised its position in Aircastle by 4.7% in the 1st quarter. Swiss National Bank now owns 95,900 shares of the transportation company’s stock valued at $1,905,000 after purchasing an additional 4,300 shares in the last quarter. SG Americas Securities LLC acquired a new stake in shares of Aircastle during the 1st quarter worth about $118,000. Finally, Camarda Financial Advisors LLC acquired a new stake in shares of Aircastle during the 1st quarter worth about $134,000. 60.92% of the stock is currently owned by institutional investors.
Shares of NYSE AYR traded down $0.03 during mid-day trading on Tuesday, reaching $20.87. 590,111 shares of the company’s stock were exchanged, compared to its average volume of 657,160. The stock has a market cap of $1.63 billion, a PE ratio of 11.16, a P/E/G ratio of 0.97 and a beta of 1.83. Aircastle has a 52-week low of $18.97 and a 52-week high of $25.30.
The business also recently declared a quarterly dividend, which was paid on Friday, June 15th. Shareholders of record on Thursday, May 31st were given a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 5.37%. The ex-dividend date of this dividend was Wednesday, May 30th. Aircastle’s dividend payout ratio is currently 59.89%.
Aircastle Company Profile
Aircastle Limited, through its subsidiaries, leases, finances, sells, and manages commercial flight equipment to airlines worldwide. The company also invests in other aviation assets. As of December 31, 2017, its aircraft portfolio comprised 236 aircraft leased to 81 lessees located in 43 countries. Aircastle Limited was founded in 2004 and is based in Stamford, Connecticut.
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