In a report released yesterday, Jamie Baker from J.P. Morgan downgraded Fly Leasing (FLY) to Sell, with a price target of $17.00. The company’s shares closed last Tuesday at $16.79, close to its 52-week high of $17.02.
Baker has an average return of 63.5% when recommending Fly Leasing.
According to TipRanks.com, Baker is ranked #6901 out of 7431 analysts.
Fly Leasing has an analyst consensus of Moderate Sell, with a price target consensus of $15.68.
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Based on Fly Leasing’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $68.06 million and GAAP net loss of $107 million. In comparison, last year the company earned revenue of $136 million and had a net profit of $75.16 million.
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FLY Leasing Ltd. is a holding company, which engages in purchasing and leasing of aircrafts. It focuses on acquiring and leasing the modern fuel-efficient commercial aircraft, which are in strong demand around the world. Its portoflion includes Airbus A319, Airbus A320, Airbus A330, Airbus A340, Boeing 737, Boeing 747, Boeing 757, and Boeing 767 aircraft. The company was founded on May 3, 2007 and is headquartered in Dublin, Ireland.
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