Equities research analysts expect Aircastle Limited (NYSE:AYR) to post $193.97 million in sales for the current quarter, according to Zacks. Three analysts have made estimates for Aircastle’s earnings. The highest sales estimate is $196.51 million and the lowest is $191.41 million. Aircastle reported sales of $191.41 million in the same quarter last year, which indicates a positive year-over-year growth rate of 1.3%. The company is expected to issue its next quarterly earnings results on Thursday, November 1st.
On average, analysts expect that Aircastle will report full-year sales of $803.80 million for the current financial year, with estimates ranging from $794.39 million to $813.02 million. For the next year, analysts expect that the firm will report sales of $866.42 million, with estimates ranging from $804.74 million to $908.01 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that that provide coverage for Aircastle.
Aircastle (NYSE:AYR) last announced its quarterly earnings data on Tuesday, August 7th. The transportation company reported $0.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.53 by $0.14. Aircastle had a return on equity of 11.70% and a net margin of 28.40%. The company had revenue of $204.28 million for the quarter, compared to analysts’ expectations of $194.60 million.
A number of research firms recently weighed in on AYR. Zacks Investment Research upgraded Aircastle from a “hold” rating to a “buy” rating and set a $24.00 price target on the stock in a research note on Tuesday. ValuEngine upgraded Aircastle from a “sell” rating to a “hold” rating in a research note on Thursday, September 27th. Finally, Cowen upgraded Aircastle from a “market perform” rating to an “outperform” rating and increased their price target for the company from $24.00 to $26.00 in a research note on Thursday, September 27th. Seven investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $24.71.
Shares of Aircastle stock traded down $0.24 on Wednesday, reaching $19.79. 449,416 shares of the company were exchanged, compared to its average volume of 411,308. Aircastle has a one year low of $18.97 and a one year high of $25.30. The stock has a market cap of $1.71 billion, a P/E ratio of 10.58, a P/E/G ratio of 0.98 and a beta of 1.79.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 14th. Investors of record on Friday, August 31st were paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 5.66%. The ex-dividend date of this dividend was Thursday, August 30th. Aircastle’s dividend payout ratio (DPR) is presently 59.89%.
In related news, Director Ronald Merriman sold 7,500 shares of the stock in a transaction on Thursday, August 30th. The stock was sold at an average price of $21.26, for a total value of $159,450.00. Following the sale, the director now owns 21,024 shares in the company, valued at approximately $446,970.24. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.80% of the stock is currently owned by corporate insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Millennium Management LLC raised its position in Aircastle by 242.0% in the second quarter. Millennium Management LLC now owns 407,308 shares of the transportation company’s stock valued at $8,350,000 after purchasing an additional 288,229 shares during the last quarter. Zebra Capital Management LLC bought a new position in Aircastle in the second quarter valued at about $449,000. Zacks Investment Management bought a new position in Aircastle in the second quarter valued at about $1,707,000. Macquarie Group Ltd. raised its position in Aircastle by 19.6% in the second quarter. Macquarie Group Ltd. now owns 66,600 shares of the transportation company’s stock valued at $1,365,000 after purchasing an additional 10,900 shares during the last quarter. Finally, Cubist Systematic Strategies LLC bought a new position in Aircastle in the second quarter valued at about $450,000. Institutional investors and hedge funds own 57.84% of the company’s stock.
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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