Fly Leasing Ltd(ADR) (FLY) is Reiterated by Cowen to Outperform, Raises Price Target to $ 16

Fly Leasing Ltd(ADR) (FLY) was Reiterated by Cowen to “Outperform” according to the research note released today. The brokerage firm has raised the Price Target to $ 16 from a previous price target of $14 . Cowen advised their investors in a research report released on Jul 29, 2016.

On the company’s financial health, Fly Leasing Ltd(ADR) reported $0.45 EPS for the quarter, beating the analyst consensus estimate by $ 0.12 according to the earnings call on Jul 28, 2016. Analyst had a consensus of $0.33. The company had revenue of $76.30 million for the quarter, compared to analysts expectations of $80.86 million. The company’s revenue was down -25.0 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.23 EPS.

Fly Leasing Ltd(ADR) opened for trading at $11.3 and hit $12.16 on the upside on Thursday, eventually ending the session at $11.91, with a gain of 5.96% or 0.67 points. The heightened volatility saw the trading volume jump to 4,76,725 shares. Company has a market cap of $400 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)

Leave a Reply

Fly Leasing Ltd(ADR) - Is it time to Sell?

Top Brokerage Firms are advising their investors on Fly Leasing Ltd(ADR). Subscribe to MoneyFlowIndex.Org Pre-Market Alerts, You will be the first to know the street buzz.