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

Zacks Equity Research

Fly Leasing (FLY) closed at $14.84 in the latest trading session, marking a +0.13% move from the prior day. This move outpaced the S&P 500's daily loss of 0.21%. Elsewhere, the Dow lost 0.46%, while the tech-heavy Nasdaq lost 0.16%.

Heading into today, shares of the commercial aircraft leasing company had gained 0.14% over the past month, lagging the Transportation sector's gain of 0.65% and the S&P 500's gain of 2.07% in that time.

Investors will be hoping for strength from FLY as it approaches its next earnings release, which is expected to be May 9, 2019. In that report, analysts expect FLY to post earnings of $1.18 per share. This would mark 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.

FLY's full-year Zacks Consensus Estimates are calling for earnings of $3.01 per share and revenue of $441.71 million. These results would represent year-over-year changes of +4.51% and +5.6%, respectively.

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It is also important to note the 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.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.

The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. FLY currently has a Zacks Rank of #1 (Strong Buy).

Investors should also note FLY's current valuation metrics, including its Forward P/E ratio of 4.92. This valuation marks a discount compared to its industry's average Forward P/E of 9.84.

The Transportation - Equipment and Leasing industry is part of the Transportation sector. This group has a Zacks Industry Rank of 56, putting it in the top 22% 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.

You can find more information on all of these metrics, and much more, on Zacks.com.


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Fly Leasing Limited (FLY) : Free Stock Analysis Report
 
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