Citigroup Maintains Fly Leasing Ltd(ADR) to Buy with Price Target $15.00

Brokerage firm Citigroup Maintains its rating on Fly Leasing Ltd(ADR)(NYSE:FLY). In a research note issued to the investors, the brokerage major Lowers the price-target to $15.00 per share. The shares have been rated Buy. The rating by Citigroup was issued on Aug 19, 2016.

In a different note, On Jul 29, 2016, Deutsche Bank said it Maintains its rating on Fly Leasing Ltd(ADR). In the research note, the firm Raises the price-target to $18.00 per share. The shares have been rated ‘Buy’ by the firm.

Fly Leasing Ltd(ADR) (FLY) shares turned negative on Mondays trading session with the shares closing down -0.06 points or -0.50% at a volume of 1,34,612. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $12.07. The peak price level was also seen at $12.07 while the days lowest was $11.8901. Finally the shares closed at $12.01. The 52-week high of the shares is $14.03 while the 52-week low is $9.54. According to the latest information available, the market cap of the company is $401 M.

Fly Leasing Ltd(ADR)(FLY) last announced its earnings results on Jul 28, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $77.93M. Analysts had an estimated revenue of $80.88M. Earnings per share were $0.45. Analysts had estimated an EPS of $0.34.

Fly Leasing Limited (Fly) is engaged in purchasing commercial aircraft which it leases under multi-year contracts to a range of airlines throughout the world. As of December 31 2014 the Company’s aircraft portfolio consisted of 127 commercial jet aircraft consisting of 116 narrow-body passenger aircraft including two freighters and 11 wide-body passenger aircraft. Fly primarily acquires aircraft by entering into purchase and leaseback transactions with airlines for new aircraft purchasing portfolios consisting of aircraft of various types and ages and acquiring individual aircraft. As of December 31 2014 the Company had 72 Boeing aircraft and 55 Airbus aircraft in its fleet. As of December 31 2014 the Company’s aircraft portfolio ranged across 64 airlines in 36 countries. Fly Leasing Management Co. Limited (Manager) manages the Company’s operations.

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