Fly Leasing (FLY) closed the most recent trading day at $17.48, moving +1.33% from the previous trading session. The stock outpaced the S&P 500's daily gain of 0.47%. Elsewhere, the Dow lost 0.29%, while the tech-heavy Nasdaq added 0.85%.
Heading into today, shares of the commercial aircraft leasing company had gained 1.89% over the past month, lagging the Transportation sector's gain of 2.41% and the S&P 500's gain of 2.08% in that time.
Wall Street will be looking for positivity from FLY as it approaches its next earnings report date. This is expected to be August 22, 2019. In that report, analysts expect FLY to post earnings of $1.45 per share. This would mark year-over-year growth of 61.11%. 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.
Any recent changes to analyst estimates for FLY should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 1.69% higher within the past month. FLY currently has a Zacks Rank of #1 (Strong Buy).
Digging into valuation, FLY currently has a Forward P/E ratio of 4.29. For comparison, its industry has an average Forward P/E of 9.63, which means FLY is trading at a discount to the group.
The Transportation - Equipment and Leasing industry is part of the Transportation sector. This industry currently has a Zacks Industry Rank of 106, which puts it in the top 42% 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.
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