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Fly Leasing (FLY) Gains But Lags Market: What You Should Know

Zacks Equity Research

Fly Leasing (FLY) closed at $16.76 in the latest trading session, marking a +0.21% move from the prior day. This change lagged the S&P 500's 1.5% gain on the day. At the same time, the Dow added 1.48%, and the tech-heavy Nasdaq gained 1.95%.

Prior to today's trading, shares of the commercial aircraft leasing company had lost 2.65% over the past month. This has was narrower than the Transportation sector's loss of 4.99% and the S&P 500's loss of 4.19% in that time.

FLY will be looking to display strength as it nears its next earnings release, which is expected to be August 22, 2019. The company is expected to report EPS of $1.45, up 61.11% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $142.91 million, up 39.19% from the year-ago period.

For the full year, our Zacks Consensus Estimates are projecting earnings of $4.03 per share and revenue of $486.52 million, which would represent changes of +39.93% and +16.31%, respectively, from the prior year.

Investors might also notice recent changes to analyst estimates for FLY. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.

Our research shows that these estimate changes are directly correlated with near-term stock prices. 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 has moved 1.69% higher. FLY currently has a Zacks Rank of #3 (Hold).

Looking at its valuation, FLY is holding a Forward P/E ratio of 4.16. This valuation marks a discount compared to its industry's average Forward P/E of 8.94.

The Transportation - Equipment and Leasing industry is part of the Transportation sector. This group has a Zacks Industry Rank of 217, putting it in the bottom 16% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our 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.

Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.


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