FTAI Aviation (NYSE:FTAI) Shares Down 10.8% Following Weak Earnings

Shares of FTAI Aviation Ltd. (NYSE:FTAI) were down 10.8% during mid-day trading on Thursday after the company announced weaker than expected quarterly earnings. The stock traded as low as $128.00 and last traded at $129.65. Approximately 781,504 shares changed hands during trading, a decline of 24% from the average daily volume of 1,025,226 shares. The stock had previously closed at $145.30.

The financial services provider reported $0.76 earnings per share for the quarter, missing the consensus estimate of $0.77 by ($0.01). The business had revenue of $465.80 million during the quarter, compared to the consensus estimate of $422.45 million. FTAI Aviation had a return on equity of 198.02% and a net margin of 1.59%. The business’s revenue for the quarter was up 60.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.33 EPS.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. Morgan Stanley reiterated an “underperform” rating on shares of FTAI Aviation in a research report on Friday, October 18th. Compass Point lifted their price target on shares of FTAI Aviation from $118.00 to $156.00 and gave the company a “buy” rating in a research report on Friday, September 27th. Benchmark boosted their price objective on FTAI Aviation from $150.00 to $300.00 and gave the stock a “buy” rating in a report on Friday. BTIG Research began coverage on shares of FTAI Aviation in a research note on Monday, August 26th. They issued a “buy” rating and a $140.00 target price for the company. Finally, Deutsche Bank Aktiengesellschaft increased their price target on FTAI Aviation from $125.00 to $160.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $162.09.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in FTAI. Diversified Trust Co bought a new position in FTAI Aviation in the 3rd quarter worth about $1,738,000. ClariVest Asset Management LLC purchased a new position in shares of FTAI Aviation during the first quarter worth about $1,802,000. Price T Rowe Associates Inc. MD increased its position in shares of FTAI Aviation by 1,488.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 867,963 shares of the financial services provider’s stock worth $58,415,000 after purchasing an additional 813,311 shares during the last quarter. Entropy Technologies LP purchased a new stake in FTAI Aviation in the first quarter valued at approximately $340,000. Finally, SG Americas Securities LLC bought a new stake in FTAI Aviation during the first quarter valued at approximately $384,000. Institutional investors own 88.96% of the company’s stock.

FTAI Aviation Stock Performance

The stock’s 50 day simple moving average is $132.60 and its 200 day simple moving average is $106.29. The firm has a market cap of $14.56 billion, a PE ratio of -1,424.60 and a beta of 2.04.

FTAI Aviation Company Profile

FTAI Aviation Ltd. owns and acquires aviation and offshore energy equipment for the transportation of goods and people worldwide. It operates through two segments, Aviation Leasing and Aerospace Products. The Aviation Leasing segment owns and manages aviation assets, including aircraft and aircraft engines, which it leases and sells to customers.