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Fly Leasing (FLY) Flat As Market Gains: What You Should Know

Zacks Equity Research

Fly Leasing (FLY) closed the most recent trading day at $14.42, making no change from the previous trading session. This move lagged the S&P 500's daily gain of 0.47%. At the same time, the Dow added 0.31%, and the tech-heavy Nasdaq gained 0.34%.

Heading into today, shares of the commercial aircraft leasing company had gained 5.18% over the past month, lagging the Transportation sector's gain of 5.67% and outpacing the S&P 500's gain of 4.67% in that time.

FLY will be looking to display strength as it nears its next earnings release, which is expected to be May 9, 2019. On that day, FLY is projected to report earnings of $1.18 per share, which would represent year-over-year growth of 168.18%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $135.26 million, up 52.39% from the year-ago period.

Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $3.01 per share and revenue of $441.71 million. These totals would mark changes of +4.51% and +5.6%, respectively, from last year.

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Investors might also notice recent changes to analyst estimates for FLY. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.

Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.

The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. FLY is holding a Zacks Rank of #1 (Strong Buy) right now.

Investors should also note FLY's current valuation metrics, including its Forward P/E ratio of 4.79. This represents a discount compared to its industry's average Forward P/E of 9.93.

The Transportation - Equipment and Leasing industry is part of the Transportation sector. This group has a Zacks Industry Rank of 157, putting it in the bottom 39% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

To follow FLY in the coming trading sessions, be sure to utilize Zacks.com.


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