Aircastle Limited (AYR) Receives $24.60 Average Target Price from Analysts
Shares of Aircastle Limited (NYSE:AYR) have received a consensus recommendation of “Hold” from the ten ratings firms that are currently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, eight have issued a hold recommendation and one has given a buy recommendation to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $24.60.
A number of research firms have weighed in on AYR. ValuEngine upgraded shares of Aircastle from a “strong sell” rating to a “sell” rating in a research note on Friday. Deutsche Bank lifted their price target on shares of Aircastle from $23.00 to $24.00 and gave the stock a “hold” rating in a research note on Friday, May 4th. Finally, Zacks Investment Research downgraded shares of Aircastle from a “buy” rating to a “hold” rating in a research note on Wednesday, July 25th.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Millennium Management LLC boosted its stake in Aircastle by 242.0% during the second quarter. Millennium Management LLC now owns 407,308 shares of the transportation company’s stock worth $8,350,000 after buying an additional 288,229 shares in the last quarter. Zebra Capital Management LLC acquired a new stake in shares of Aircastle in the 2nd quarter valued at $449,000. Zacks Investment Management acquired a new stake in shares of Aircastle in the 2nd quarter valued at $1,707,000. Macquarie Group Ltd. boosted its stake in shares of Aircastle by 19.6% in the 2nd quarter. Macquarie Group Ltd. now owns 66,600 shares of the transportation company’s stock valued at $1,365,000 after purchasing an additional 10,900 shares in the last quarter. Finally, Cubist Systematic Strategies LLC acquired a new stake in shares of Aircastle in the 2nd quarter valued at $450,000. Hedge funds and other institutional investors own 61.84% of the company’s stock.
Aircastle (NYSE:AYR) last posted its quarterly earnings results on Tuesday, August 7th. The transportation company reported $0.67 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.53 by $0.14. Aircastle had a net margin of 28.40% and a return on equity of 11.70%. The firm had revenue of $204.28 million for the quarter, compared to the consensus estimate of $194.60 million. research analysts expect that Aircastle will post 2.14 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 14th. Shareholders of record on Friday, August 31st will be paid a dividend of $0.28 per share. The ex-dividend date of this dividend is Thursday, August 30th. This represents a $1.12 dividend on an annualized basis and a yield of 5.34%. Aircastle’s dividend payout ratio is currently 59.89%.
Aircastle Limited, through its subsidiaries, leases, finances, sells, and manages commercial flight equipment to airlines worldwide. The company also invests in other aviation assets. As of December 31, 2017, its aircraft portfolio comprised 236 aircraft leased to 81 lessees located in 43 countries. Aircastle Limited was founded in 2004 and is based in Stamford, Connecticut.
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