Shares of Aircastle Limited (NYSE:AYR) have received an average rating of “Hold” from the twelve brokerages that are currently covering the firm, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has issued a buy rating on the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $25.00.
A number of research analysts have recently commented on AYR shares. Credit Suisse Group increased their price objective on Aircastle from $25.00 to $26.00 and gave the company a “neutral” rating in a report on Friday, November 3rd. Citigroup started coverage on Aircastle in a report on Friday, December 8th. They issued a “neutral” rating and a $25.00 target price on the stock. ValuEngine lowered Aircastle from a “strong-buy” rating to a “buy” rating in a report on Monday, November 6th. Stephens raised Aircastle from an “underweight” rating to an “equal” rating and set a $24.00 target price on the stock in a report on Wednesday, February 14th. They noted that the move was a valuation call. Finally, Royal Bank of Canada reaffirmed a “hold” rating on shares of Aircastle in a report on Wednesday, February 14th.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Voya Investment Management LLC grew its holdings in shares of Aircastle by 9.2% during the 2nd quarter. Voya Investment Management LLC now owns 24,093 shares of the transportation company’s stock worth $524,000 after purchasing an additional 2,024 shares in the last quarter. Alliancebernstein L.P. grew its holdings in shares of Aircastle by 3.4% during the 2nd quarter. Alliancebernstein L.P. now owns 67,746 shares of the transportation company’s stock worth $1,473,000 after purchasing an additional 2,246 shares in the last quarter. UBS Asset Management Americas Inc. grew its holdings in shares of Aircastle by 7.0% during the 4th quarter. UBS Asset Management Americas Inc. now owns 43,560 shares of the transportation company’s stock worth $1,019,000 after purchasing an additional 2,840 shares in the last quarter. Baker Ellis Asset Management LLC acquired a new stake in shares of Aircastle during the 4th quarter worth approximately $106,000. Finally, Nordea Investment Management AB grew its holdings in shares of Aircastle by 5.3% during the 3rd quarter. Nordea Investment Management AB now owns 90,197 shares of the transportation company’s stock worth $2,010,000 after purchasing an additional 4,573 shares in the last quarter. 61.55% of the stock is currently owned by hedge funds and other institutional investors.
Aircastle (NYSE:AYR) last issued its quarterly earnings data on Tuesday, February 13th. The transportation company reported $0.72 EPS for the quarter, beating the Zacks’ consensus estimate of $0.58 by $0.14. The business had revenue of $177.40 million for the quarter, compared to analyst estimates of $184.09 million. Aircastle had a return on equity of 8.41% and a net margin of 18.56%. The firm’s revenue for the quarter was down 13.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.90 EPS. sell-side analysts forecast that Aircastle will post 2.05 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 15th. Shareholders of record on Wednesday, February 28th will be issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 5.61%. The ex-dividend date is Tuesday, February 27th. Aircastle’s dividend payout ratio (DPR) is currently 59.57%.
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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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