Aircastle Limited (NYSE:AYR) announced a quarterly dividend on Wednesday, August 9th, Wall Street Journal reports. Shareholders of record on Thursday, August 31st will be given a dividend of 0.26 per share by the transportation company on Friday, September 15th. This represents a $1.04 annualized dividend and a yield of 4.49%. The ex-dividend date is Tuesday, August 29th.
Aircastle Limited has increased its dividend by an average of 12.1% annually over the last three years and has raised its dividend annually for the last 6 consecutive years. Aircastle Limited has a payout ratio of 46.2% meaning its dividend is sufficiently covered by earnings. Analysts expect Aircastle Limited to earn $2.45 per share next year, which means the company should continue to be able to cover its $1.04 annual dividend with an expected future payout ratio of 42.4%.
Aircastle Limited (AYR) traded down 3.62% during midday trading on Wednesday, reaching $23.16. 523,334 shares of the company’s stock traded hands. The firm’s 50-day moving average is $22.27 and its 200-day moving average is $22.85. Aircastle Limited has a 1-year low of $18.26 and a 1-year high of $25.98. The company has a market capitalization of $1.82 billion, a price-to-earnings ratio of 11.58 and a beta of 1.81.
Aircastle Limited (NYSE:AYR) last announced its quarterly earnings data on Tuesday, August 8th. The transportation company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.61 by $0.58. The firm had revenue of $223.53 million during the quarter, compared to analyst estimates of $206.10 million. Aircastle Limited had a net margin of 19.81% and a return on equity of 8.88%. The business’s quarterly revenue was up 17.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.31 earnings per share. Analysts forecast that Aircastle Limited will post $2.34 earnings per share for the current year.
Several equities analysts have issued reports on the stock. FBR & Co dropped their price objective on shares of Aircastle Limited from $27.50 to $26.00 and set a “market perform” rating on the stock in a research note on Thursday, May 4th. Royal Bank Of Canada reissued a “hold” rating and issued a $25.00 price objective on shares of Aircastle Limited in a research note on Friday, April 21st. Zacks Investment Research cut shares of Aircastle Limited from a “buy” rating to a “hold” rating in a research note on Wednesday, July 5th. Wells Fargo & Company reissued a “market perform” rating and issued a $24.00 price objective (down from $26.00) on shares of Aircastle Limited in a research note on Thursday, May 25th. Finally, Barclays PLC assumed coverage on shares of Aircastle Limited in a research note on Monday, July 10th. They issued an “equal weight” rating and a $24.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $24.20.
About Aircastle Limited
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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