Fly Leasing (FLY) Gains But Lags Market: What You Should Know
Fly Leasing (FLY) closed at $17.31 in the latest trading session, marking a +0.41% move from the prior day. This move lagged the S&P 500's daily gain of 0.46%. Meanwhile, the Dow gained 0.9%, and the Nasdaq, a tech-heavy index, added 0.59%.
Prior to today's trading, shares of the commercial aircraft leasing company had gained 4.36% over the past month. This has outpaced the Transportation sector's gain of 2.31% and the S&P 500's gain of 4.04% in that time.
Wall Street will be looking for positivity from FLY as it approaches its next earnings report date. This is expected to be August 22, 2019. On that day, FLY is projected to report earnings of $1.45 per share, which would represent year-over-year growth of 61.11%. Our most recent consensus estimate is calling for quarterly revenue of $142.91 million, up 39.19% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $3.93 per share and revenue of $486.52 million. These totals would mark changes of +36.46% and +16.31%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for FLY. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. FLY is currently sporting a Zacks Rank of #1 (Strong Buy).
Investors should also note FLY's current valuation metrics, including its Forward P/E ratio of 4.39. Its industry sports an average Forward P/E of 9.22, so we one might conclude that FLY is trading at a discount comparatively.
The Transportation - Equipment and Leasing industry is part of the Transportation sector. This industry currently has a Zacks Industry Rank of 72, which puts it in the top 29% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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