In the latest trading session, Fly Leasing closed at $20.29, marking a +0.05% move from the previous day. This change outpaced the S&P 500's 0.24% loss on the day. Meanwhile, the Dow lost 0.3%, and the Nasdaq, a tech-heavy index, lost 0.58%.
Heading into today, shares of the commercial aircraft leasing company had gained 1.4% over the past month, lagging the Transportation sector's gain of 5.45% and the S&P 500's gain of 4.96% in that time.
Investors will be hoping for strength from FLY as it approaches its next earnings release. In that report, analysts expect FLY to post earnings of $1.91 per share. This would mark year-over-year growth of 154.67%. Our most recent consensus estimate is calling for quarterly revenue of $148.15 million, up 41.67% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $5.78 per share and revenue of $529.74 million. These totals would mark changes of +100.69% and +26.64%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for FLY. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 11.34% higher. FLY is currently sporting a Zacks Rank of #2 (Buy).
Looking at its valuation, FLY is holding a Forward P/E ratio of 3.51. For comparison, its industry has an average Forward P/E of 9.74, which means FLY is trading at a discount to the group.
The Transportation - Equipment and Leasing industry is part of the Transportation sector. This industry currently has a Zacks Industry Rank of 102, which puts it in the top 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.
To follow FLY in the coming trading sessions, be sure to utilize Zacks.com.