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Fly Leasing (FLY) Gains As Market Dips: What You Should Know

Zacks Equity Research

Fly Leasing (FLY) closed the most recent trading day at $17.35, moving +1.7% from the previous trading session. The stock outpaced the S&P 500's daily loss of 0.26%. Elsewhere, the Dow lost 0.09%, while the tech-heavy Nasdaq lost 0.24%.

Prior to today's trading, shares of the commercial aircraft leasing company had lost 0.52% over the past month. This has lagged the Transportation sector's gain of 3.08% and the S&P 500's gain of 2.87% in that time.

Investors will be hoping for strength from FLY as it approaches its next earnings release, which is expected to be August 22, 2019. The company is expected to report EPS of $1.45, up 61.11% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $142.91 million, up 39.19% from the year-ago period.

For the full year, our Zacks Consensus Estimates are projecting earnings of $4.03 per share and revenue of $486.52 million, which would represent changes of +39.93% and +16.31%, respectively, from the prior year.

Investors should also note any recent changes to analyst estimates for FLY. These recent revisions tend to reflect the evolving nature of short-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 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. The Zacks Consensus EPS estimate has moved 1.69% higher within the past month. FLY is currently a Zacks Rank #3 (Hold).

Investors should also note FLY's current valuation metrics, including its Forward P/E ratio of 4.24. This valuation marks a discount compared to its industry's average Forward P/E of 9.6.

The Transportation - Equipment and Leasing industry is part of the Transportation sector. This industry currently has a Zacks Industry Rank of 185, which puts it in the bottom 28% 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.


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