UK Markets closed

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

Zacks Equity Research

Fly Leasing (FLY) closed at $17.10 in the latest trading session, marking a -0.41% move from the prior day. This move lagged the S&P 500's daily gain of 0.36%. Elsewhere, the Dow gained 0.01%, while the tech-heavy Nasdaq added 0.27%.

Coming into today, shares of the commercial aircraft leasing company had gained 0.82% in the past month. In that same time, the Transportation sector gained 2.19%, while the S&P 500 gained 3.98%.

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. Our most recent consensus estimate is calling for quarterly revenue of $142.91 million, up 39.19% from the year-ago period.

Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $3.93 per share and revenue of $486.52 million. These totals would mark changes of +36.46% and +16.31%, respectively, from last year.

Investors should also note any 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.

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.

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 remained stagnant within the past month. 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 4.37. This valuation marks a discount compared to its industry's average Forward P/E of 9.32.

The Transportation - Equipment and Leasing industry is part of the Transportation sector. This group has a Zacks Industry Rank of 154, putting it in the bottom 40% of all 250+ industries.

The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Fly Leasing Limited (FLY) : Free Stock Analysis Report
To read this article on click here.