In the latest trading session, Fly Leasing (FLY) closed at $14.37, marking a -1.84% move from the previous day. This change lagged the S&P 500's daily gain of 0.16%. At the same time, the Dow added 0.42%, and the tech-heavy Nasdaq gained 0.03%.
Heading into today, shares of the commercial aircraft leasing company had gained 8.28% over the past month, outpacing the Transportation sector's gain of 4.23% and the S&P 500's gain of 2.89% in that time.
Wall Street will be looking for positivity from FLY as it approaches its nex t earnings report date. This is expected to be May 9, 2019. On that day, FLY is projected to report earnings of $1.18 per share, which would represent year-over-year growth of 168.18%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $135.26 million, up 52.39% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $3.01 per share and revenue of $441.71 million, which would represent changes of +4.51% and +5.6%, respectively, from the prior year.
Any recent changes to analyst estimates for FLY should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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.
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. Within the past 30 days, our consensus EPS projection remained stagnant. FLY is currently a Zacks Rank #1 (Strong Buy).
Investors should also note FLY's current valuation metrics, including its Forward P/E ratio of 4.86. This represents a discount compared to its industry's average Forward P/E of 9.26.
The Transportation - Equipment and Leasing industry is part of the Transportation sector. This group has a Zacks Industry Rank of 200, putting it in the bottom 22% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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