Shares of AerCap Holdings (NYSE:AER) gapped up prior to trading on Wednesday following a stronger than expected earnings report. The stock had previously closed at $50.32, but opened at $51.66. AerCap shares last traded at $52.67, with a volume of 2096145 shares trading hands.

The financial services provider reported $1.67 earnings per share for the quarter, beating analysts’ consensus estimates of $1.38 by $0.29. AerCap had a net margin of 22.84% and a return on equity of 13.84%. The company had revenue of $1.26 billion during the quarter, compared to analyst estimates of $1.23 billion. During the same quarter last year, the business posted $2.01 EPS. The firm’s revenue for the quarter was down 7.7% on a year-over-year basis.

AerCap announced that its Board of Directors has authorized a share repurchase plan on Thursday, November 2nd that authorizes the company to buyback $200.00 million in shares. This buyback authorization authorizes the financial services provider to reacquire shares of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board of directors believes its stock is undervalued.

A number of equities research analysts recently weighed in on the stock. Zacks Investment Research lowered shares of AerCap from a “hold” rating to a “sell” rating in a report on Monday, February 5th. Wells Fargo & Co set a $62.00 price objective on shares of AerCap and gave the company a “buy” rating in a report on Friday, December 15th. Citigroup initiated coverage on shares of AerCap in a research report on Friday, December 8th. They set a “neutral” rating and a $57.00 target price on the stock. Royal Bank of Canada cut their target price on shares of AerCap from $77.00 to $74.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 14th. Finally, UBS Group raised their target price on shares of AerCap from $44.00 to $54.00 and gave the company a “neutral” rating in a research report on Thursday, November 9th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. AerCap has an average rating of “Buy” and a consensus price target of $57.30.

A number of hedge funds and other institutional investors have recently bought and sold shares of AER. Cerebellum GP LLC purchased a new position in AerCap during the 4th quarter valued at about $127,000. Financial Gravity Companies Inc. purchased a new position in AerCap during the 4th quarter valued at about $130,000. Icon Wealth Partners LLC purchased a new position in shares of AerCap in the 4th quarter worth approximately $134,000. Dorsey & Whitney Trust CO LLC purchased a new position in shares of AerCap in the 3rd quarter worth approximately $208,000. Finally, Magnetar Financial LLC purchased a new position in shares of AerCap in the 3rd quarter worth approximately $211,000. 85.34% of the stock is currently owned by institutional investors and hedge funds.

The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 3.17. The firm has a market capitalization of $8,340.00, a PE ratio of 7.78, a PEG ratio of 0.69 and a beta of 1.79.

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About AerCap

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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