According to Zacks, “AIRCASTLE LTD are a global company that acquires and leases high utility commercial jet aircraft to passenger and cargo airlines throughout the world. High utility aircraft are generally modern, operationally efficient jets with a large operator base and long useful lives. They also make investments in other aviation assets, including debt securities secured by commercial jet aircraft. “
A number of other brokerages also recently issued reports on AYR. JPMorgan Chase & Co. upgraded shares of Aircastle from an underweight rating to a neutral rating in a research note on Wednesday, October 23rd. ValuEngine raised shares of Aircastle from a sell rating to a hold rating in a report on Friday, November 1st. One research analyst has rated the stock with a sell rating and seven have given a hold rating to the stock. Aircastle currently has an average rating of Hold and an average target price of $23.71.
Aircastle (NYSE:AYR) last announced its quarterly earnings data on Tuesday, August 6th. The transportation company reported $0.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.46 by $0.02. The firm had revenue of $223.42 million for the quarter, compared to the consensus estimate of $212.47 million. Aircastle had a net margin of 22.31% and a return on equity of 10.27%. The business’s revenue for the quarter was up 9.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.67 earnings per share. On average, sell-side analysts predict that Aircastle will post 2 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be issued a $0.32 dividend. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 3.97%. This is a boost from Aircastle’s previous quarterly dividend of $0.30. Aircastle’s dividend payout ratio is 37.85%.
Several hedge funds have recently bought and sold shares of AYR. Rothschild & Co. Asset Management US Inc. raised its holdings in Aircastle by 3.5% in the 2nd quarter. Rothschild & Co. Asset Management US Inc. now owns 1,939,992 shares of the transportation company’s stock valued at $41,244,000 after buying an additional 64,726 shares during the last quarter. Goodnow Investment Group LLC raised its holdings in Aircastle by 9.0% in the 2nd quarter. Goodnow Investment Group LLC now owns 989,023 shares of the transportation company’s stock valued at $21,027,000 after buying an additional 81,775 shares during the last quarter. Wells Fargo & Company MN raised its holdings in Aircastle by 25.1% in the 2nd quarter. Wells Fargo & Company MN now owns 837,002 shares of the transportation company’s stock valued at $17,795,000 after buying an additional 167,864 shares during the last quarter. Northern Trust Corp raised its holdings in Aircastle by 4.7% in the 2nd quarter. Northern Trust Corp now owns 725,067 shares of the transportation company’s stock valued at $15,415,000 after buying an additional 32,869 shares during the last quarter. Finally, Foundry Partners LLC raised its holdings in Aircastle by 11.9% in the 3rd quarter. Foundry Partners LLC now owns 715,414 shares of the transportation company’s stock valued at $16,047,000 after buying an additional 75,796 shares during the last quarter. 57.26% of the stock is owned by hedge funds and other institutional investors.
Aircastle Limited, through its subsidiaries, leases, finances, sells, and manages commercial flight equipment to airlines worldwide. As of December 31, 2018, its aircraft portfolio comprised 261 aircraft leased to 81 lessees located in 44 countries. Aircastle Limited was founded in 2004 and is based in Stamford, Connecticut.
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