Fly Leasing Ltd(ADR) (FLY) Releases Earnings Results, Misses Expectations By $-0.09 EPS

Fly Leasing Ltd(ADR) (FLY) reported quarterly earnings results on Wednesday, May-18-2016. The company reported $0.47 earnings per share for the quarter, missing the analyst consensus estimate by $-0.09. Analysts had a consensus of $0.56. The company posted revenue of $81.20 million in the period, compared to analysts expectations of $92.74 million. The company’s revenue was down -34.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.41 EPS.

Many Wall Street Analysts have commented on Fly Leasing Ltd(ADR). Shares were Reiterated by Cowen on Mar 8, 2016 to “Outperform” and Lowered the Price Target to $ 14 from a previous price target of $19 .

Fly Leasing Ltd(ADR) opened for trading at $11.85 and hit $11.99 on the upside on Monday, eventually ending the session at $11.93, with a gain of 0.76% or 0.09 points. The heightened volatility saw the trading volume jump to 2,75,597 shares. Company has a market cap of $426 M.

Fly Leasing Limited (Fly) is engaged in purchasing commercial aircraft which it leases under multi-year contracts to a range of airlines throughout the world. As of December 31 2014 the Company’s aircraft portfolio consisted of 127 commercial jet aircraft consisting of 116 narrow-body passenger aircraft including two freighters and 11 wide-body passenger aircraft. Fly primarily acquires aircraft by entering into purchase and leaseback transactions with airlines for new aircraft purchasing portfolios consisting of aircraft of various types and ages and acquiring individual aircraft. As of December 31 2014 the Company had 72 Boeing aircraft and 55 Airbus aircraft in its fleet. As of December 31 2014 the Company’s aircraft portfolio ranged across 64 airlines in 36 countries. Fly Leasing Management Co. Limited (Manager) manages the Company’s operations.

Fly Leasing Ltd(ADR)

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