AerCap (AER) Posts Earnings Results, Beats Expectations By $0.29 EPS
AerCap (NYSE:AER) issued its quarterly earnings data on Wednesday. The financial services provider reported $1.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.38 by $0.29, Morningstar.com reports. The business had revenue of $1.26 billion during the quarter, compared to analyst estimates of $1.23 billion. AerCap had a net margin of 22.84% and a return on equity of 13.84%. The firm’s quarterly revenue was down 7.7% on a year-over-year basis. During the same quarter last year, the business earned $2.01 EPS.
AerCap (NYSE:AER) opened at $51.66 on Wednesday. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 3.17. AerCap has a fifty-two week low of $42.35 and a fifty-two week high of $55.67. The stock has a market cap of $8,193.12, a P/E ratio of 7.62, a price-to-earnings-growth ratio of 0.69 and a beta of 1.80.
A number of institutional investors have recently added to or reduced their stakes in AER. Arrowstreet Capital Limited Partnership raised its holdings in AerCap by 135.0% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,242,647 shares of the financial services provider’s stock worth $117,986,000 after purchasing an additional 1,288,455 shares during the last quarter. Amundi Pioneer Asset Management Inc. bought a new position in AerCap during the 4th quarter worth approximately $31,769,000. PGGM Investments bought a new position in AerCap during the 3rd quarter worth approximately $21,142,000. Neuberger Berman Group LLC raised its holdings in AerCap by 7.5% during the 3rd quarter. Neuberger Berman Group LLC now owns 3,320,387 shares of the financial services provider’s stock worth $169,705,000 after purchasing an additional 230,716 shares during the last quarter. Finally, Asset Management One Co. Ltd. raised its holdings in AerCap by 5,343.8% during the 3rd quarter. Asset Management One Co. Ltd. now owns 228,423 shares of the financial services provider’s stock worth $11,674,000 after purchasing an additional 224,227 shares during the last quarter. Hedge funds and other institutional investors own 85.34% of the company’s stock.
AerCap declared that its board has initiated a stock repurchase program on Thursday, November 2nd that permits the company to buyback $200.00 million in shares. This buyback authorization permits the financial services provider to reacquire shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board believes its shares are undervalued.
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AerCap Holdings N.V. is an independent aircraft leasing company. The Company focuses on acquiring in-demand aircraft, funding them, hedging interest rate risk and using its platform to deploy these assets. It operates its business on a global basis, leasing aircraft to customers in various geographical regions.
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