What’s Propelling Fly Leasing Limited (FLY) to Reach 52-Week High?

May 17, 2018 - By Nellie Hooten

Fly Leasing Limited (NYSE:FLY) Logo

The stock of Fly Leasing Limited (NYSE:FLY) hit a new 52-week high and has $15.70 target or 8.00 % above today’s $14.54 share price. The 9 months bullish chart indicates low risk for the $406.88 million company. The 1-year high was reported on May, 17 by Barchart.com. If the $15.70 price target is reached, the company will be worth $32.55 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock.

The stock decreased 0.34% or $0.05 during the last trading session, reaching $14.54. About 42,036 shares traded. Fly Leasing Limited (NYSE:FLY) has risen 1.84% since May 17, 2017 and is uptrending. It has underperformed by 9.71% the S&P500.

Analysts await Fly Leasing Limited (NYSE:FLY) to report earnings on August, 9. They expect $0.75 earnings per share, up 141.94 % or $0.44 from last year’s $0.31 per share. FLY’s profit will be $20.99 million for 4.85 P/E if the $0.75 EPS becomes a reality. After $0.44 actual earnings per share reported by Fly Leasing Limited for the previous quarter, Wall Street now forecasts 70.45 % EPS growth.

Fly Leasing Limited (NYSE:FLY) Ratings Coverage

Among 2 analysts covering Fly Leasing Limited (NYSE:FLY), 0 have Buy rating, 2 Sell and 0 Hold. Therefore 0 are positive. Fly Leasing Limited has $15 highest and $13.5 lowest target. $14.25’s average target is -1.99% below currents $14.54 stock price. Fly Leasing Limited had 2 analyst reports since December 8, 2017 according to SRatingsIntel. The stock of Fly Leasing Limited (NYSE:FLY) earned “Underweight” rating by JP Morgan on Tuesday, March 6. The firm earned “Sell” rating on Friday, December 8 by Citigroup.

More important recent Fly Leasing Limited (NYSE:FLY) news were published by: Streetinsider.com which released: “FLY Leasing Limited (FLY) PT Raised to $30 at RBC Capital; ‘Overlooked Deep Value Opportunity'” on May 07, 2018, also Seekingalpha.com published article titled: “Fly Leasing Limited (FLY) CEO Colm Barrington on Q1 2018 Results – Earnings Call Transcript”, Prnewswire.com published: “Fly Leasing Reports First Quarter 2018 Financial Results” on May 03, 2018. More interesting news about Fly Leasing Limited (NYSE:FLY) was released by: Prnewswire.com and their article: “Fly Leasing’s Acquisition of Major Aircraft Portfolio Approved by AirAsia Shareholders” with publication date: May 16, 2018.

Fly Leasing Limited, together with its subsidiaries, purchases and leases commercial aircraft under multi-year contracts to various airlines worldwide. The company has market cap of $406.88 million. As of December 31, 2016, the firm had a fleet of 76 aircraft, including 65 narrow-body passenger aircraft and 11 wide-body passenger aircraft. It has a 169.07 P/E ratio.

Fly Leasing Limited (NYSE:FLY) Ratings Chart

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