Aircastle Limited (NYSE:AYR) – Analysts at Macquarie issued their Q2 2019 EPS estimates for shares of Aircastle in a report released on Tuesday, June 11th. Macquarie analyst S. Donofrio expects that the transportation company will post earnings of $0.43 per share for the quarter.
Other analysts have also issued research reports about the stock. Zacks Investment Research raised shares of Aircastle from a “hold” rating to a “buy” rating and set a $23.00 price target on the stock in a research report on Wednesday, March 20th. ValuEngine raised shares of Aircastle from a “sell” rating to a “hold” rating in a research report on Tuesday, March 12th. Finally, Goldman Sachs Group started coverage on shares of Aircastle in a research report on Monday, April 8th. They set a “sell” rating and a $18.00 price target on the stock. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $21.50.
Aircastle (NYSE:AYR) last released its quarterly earnings results on Thursday, May 2nd. The transportation company reported $0.52 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.45 by $0.07. The firm had revenue of $213.93 million for the quarter, compared to analyst estimates of $202.84 million. Aircastle had a net margin of 24.90% and a return on equity of 11.31%. The business’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.72 EPS.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. JPMorgan Chase & Co. raised its position in Aircastle by 2.9% in the first quarter. JPMorgan Chase & Co. now owns 19,046 shares of the transportation company’s stock valued at $385,000 after purchasing an additional 532 shares during the period. IFP Advisors Inc raised its position in Aircastle by 96.3% in the fourth quarter. IFP Advisors Inc now owns 2,038 shares of the transportation company’s stock valued at $35,000 after purchasing an additional 1,000 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Aircastle by 29.8% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,560 shares of the transportation company’s stock valued at $79,000 after purchasing an additional 1,048 shares during the period. Swiss National Bank raised its position in Aircastle by 1.3% in the first quarter. Swiss National Bank now owns 104,200 shares of the transportation company’s stock valued at $2,109,000 after purchasing an additional 1,300 shares during the period. Finally, Citigroup Inc. raised its position in Aircastle by 8.6% in the fourth quarter. Citigroup Inc. now owns 20,133 shares of the transportation company’s stock valued at $347,000 after purchasing an additional 1,598 shares during the period. 57.03% of the stock is currently owned by institutional investors.
In other Aircastle news, Director Ronald Merriman sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $20.06, for a total value of $200,600.00. Following the sale, the director now owns 7,831 shares of the company’s stock, valued at $157,089.86. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 2.10% of the stock is owned by insiders.
The company also recently announced a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Friday, May 31st were given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 5.88%. The ex-dividend date was Thursday, May 30th. Aircastle’s payout ratio is 37.85%.
Aircastle announced that its Board of Directors has initiated a share repurchase plan on Tuesday, May 21st that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the transportation company to buy up to 6.6% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.
Aircastle Limited, through its subsidiaries, leases, finances, sells, and manages commercial flight equipment to airlines worldwide. As of December 31, 2018, its aircraft portfolio comprised 261 aircraft leased to 81 lessees located in 44 countries. Aircastle Limited was founded in 2004 and is based in Stamford, Connecticut.
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