Wall Street analysts expect Fly Leasing Ltd (NYSE:FLY) to report sales of $107.32 million for the current quarter, Zacks reports. Three analysts have made estimates for Fly Leasing’s earnings. The lowest sales estimate is $106.40 million and the highest is $108.87 million. Fly Leasing posted sales of $100.60 million in the same quarter last year, which would indicate a positive year over year growth rate of 6.7%. The firm is expected to issue its next quarterly earnings results before the market opens on Thursday, March 8th.

According to Zacks, analysts expect that Fly Leasing will report full-year sales of $107.32 million for the current fiscal year, with estimates ranging from $351.72 million to $354.19 million. For the next year, analysts expect that the business will report sales of $395.90 million per share, with estimates ranging from $382.40 million to $409.92 million. Zacks’ sales averages are an average based on a survey of sell-side research analysts that cover Fly Leasing.

Several research analysts have commented on FLY shares. Zacks Investment Research cut shares of Fly Leasing from a “hold” rating to a “strong sell” rating in a report on Monday, November 13th. ValuEngine cut shares of Fly Leasing from a “buy” rating to a “hold” rating in a report on Friday, November 17th. Finally, Citigroup assumed coverage on shares of Fly Leasing in a report on Friday, December 8th. They set a “sell” rating and a $13.50 price target for the company. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $17.10.

Shares of Fly Leasing (NYSE:FLY) traded up $0.33 on Friday, hitting $12.50. 177,930 shares of the company’s stock traded hands, compared to its average volume of 138,711. Fly Leasing has a one year low of $11.56 and a one year high of $14.65. The firm has a market capitalization of $350.97, a PE ratio of -5.79, a price-to-earnings-growth ratio of 0.62 and a beta of 1.03. The company has a debt-to-equity ratio of 4.74, a quick ratio of 1.18 and a current ratio of 1.18.

Hedge funds have recently bought and sold shares of the stock. Monarch Partners Asset Management LLC acquired a new stake in shares of Fly Leasing during the third quarter worth approximately $479,000. OxFORD Asset Management LLP acquired a new stake in shares of Fly Leasing during the third quarter worth approximately $706,000. California Public Employees Retirement System boosted its holdings in shares of Fly Leasing by 10.0% during the third quarter. California Public Employees Retirement System now owns 111,778 shares of the transportation company’s stock worth $1,567,000 after purchasing an additional 10,178 shares during the period. Uniplan Investment Counsel Inc. boosted its holdings in shares of Fly Leasing by 6.5% during the third quarter. Uniplan Investment Counsel Inc. now owns 545,990 shares of the transportation company’s stock worth $7,654,000 after purchasing an additional 33,231 shares during the period. Finally, Gabelli Funds LLC boosted its holdings in shares of Fly Leasing by 4.7% during the third quarter. Gabelli Funds LLC now owns 319,301 shares of the transportation company’s stock worth $4,477,000 after purchasing an additional 14,301 shares during the period. Institutional investors and hedge funds own 45.50% of the company’s stock.

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Fly Leasing Company Profile

Fly Leasing Limited is engaged in purchasing commercial aircraft, which it leases under multi-year contracts to a range of airlines throughout the world. The Company primarily acquires aircraft by entering into purchase and leaseback transactions with airlines for new aircraft; purchasing portfolios, which consists of aircraft of various types and ages, and acquiring individual aircraft.

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