Fly Leasing (FLY) closed the most recent trading day at $6.14, moving -0.32% from the previous trading session. This change lagged the S&P 500's 3.41% gain on the day. At the same time, the Dow added 3.44%, and the tech-heavy Nasdaq gained 2.58%.
Prior to today's trading, shares of the commercial aircraft leasing company had lost 55.33% over the past month. This has lagged the Transportation sector's loss of 13.3% and the S&P 500's loss of 10.46% in that time.
Investors will be hoping for strength from FLY as it approaches its next earnings release. On that day, FLY is projected to report earnings of $1.43 per share, which would represent a year-over-year decline of 0.69%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $120.36 million, down 10.65% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $2.79 per share and revenue of $372.42 million. These totals would mark changes of -64% and -35.23%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for FLY. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 21.28% lower within the past month. FLY is holding a Zacks Rank of #4 (Sell) right now.
Digging into valuation, FLY currently has a Forward P/E ratio of 2.21. For comparison, its industry has an average Forward P/E of 9.08, 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 174, which puts it in the bottom 32% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.