Aircastle Limited (AYR) Receives $25.11 Average Price Target from Analysts
Shares of Aircastle Limited (NYSE:AYR) have earned an average rating of “Hold” from the eleven brokerages that are currently covering the company, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $25.25.
Several equities research analysts have issued reports on AYR shares. ValuEngine cut shares of Aircastle from a “strong-buy” rating to a “buy” rating in a research note on Monday, November 6th. Credit Suisse Group lifted their target price on shares of Aircastle from $25.00 to $26.00 and gave the stock a “neutral” rating in a research note on Friday, November 3rd. Citigroup started coverage on shares of Aircastle in a research note on Friday, December 8th. They set a “neutral” rating and a $25.00 target price on the stock. Finally, Cowen reaffirmed a “hold” rating and set a $26.00 target price on shares of Aircastle in a research note on Tuesday, September 12th.
Several hedge funds and other institutional investors have recently bought and sold shares of AYR. Russell Investments Group Ltd. raised its holdings in shares of Aircastle by 9.6% during the 2nd quarter. Russell Investments Group Ltd. now owns 20,812 shares of the transportation company’s stock worth $453,000 after acquiring an additional 1,822 shares during the period. Schwab Charles Investment Management Inc. raised its holdings in shares of Aircastle by 5.1% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 358,178 shares of the transportation company’s stock worth $7,791,000 after acquiring an additional 17,411 shares during the period. SG Americas Securities LLC purchased a new position in shares of Aircastle during the 2nd quarter worth $121,000. Bank of New York Mellon Corp raised its holdings in shares of Aircastle by 1.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 241,414 shares of the transportation company’s stock worth $5,252,000 after acquiring an additional 3,957 shares during the period. Finally, Legal & General Group Plc raised its holdings in shares of Aircastle by 2.7% during the 2nd quarter. Legal & General Group Plc now owns 62,562 shares of the transportation company’s stock worth $1,361,000 after acquiring an additional 1,663 shares during the period. Institutional investors and hedge funds own 61.59% of the company’s stock.
Aircastle (NYSE:AYR) last announced its earnings results on Thursday, November 2nd. The transportation company reported $0.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.67 by $0.15. Aircastle had a net margin of 19.48% and a return on equity of 9.18%. The company had revenue of $191.41 million for the quarter, compared to analysts’ expectations of $184.02 million. During the same quarter in the previous year, the company posted $0.38 EPS. The firm’s quarterly revenue was down 1.7% on a year-over-year basis. sell-side analysts expect that Aircastle will post 1.75 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, December 15th. Stockholders of record on Thursday, November 30th were issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 4.71%. The ex-dividend date of this dividend was Wednesday, November 29th. This is a positive change from Aircastle’s previous quarterly dividend of $0.26. Aircastle’s payout ratio is currently 54.90%.
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Aircastle Company Profile
Aircastle Limited is a holding company. The Company, through its subsidiaries, acquires, leases and sells commercial jet aircrafts to airlines. The Company is engaged in financing and managing commercial flight equipment. The Company manages its aircrafts in the United States, Ireland and Singapore. As of December 31, 2016, the Company owned and managed on behalf of its joint ventures 206 aircrafts leased to 71 lessees located in 36 countries.
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