Fly Leasing (FLY) Dips More Than Broader Markets: What You Should Know

Fly Leasing (FLY) closed the most recent trading day at $20.79, moving -1.7% from the previous trading session. This change lagged the S&P 500's 0.49% loss on the day. Elsewhere, the Dow lost 0.59%, while the tech-heavy Nasdaq lost 0.8%.

Coming into today, shares of the commercial aircraft leasing company had gained 6.55% in the past month. In that same time, the Transportation sector gained 3.13%, while the S&P 500 gained 3%.

Wall Street will be looking for positivity from FLY as it approaches its next earnings report date. In that report, analysts expect FLY to post earnings of $1.91 per share. This would mark year-over-year growth of 154.67%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $148.15 million, up 41.67% from the year-ago period.

FLY's full-year Zacks Consensus Estimates are calling for earnings of $5.78 per share and revenue of $529.74 million. These results would represent year-over-year changes of +100.69% and +26.64%, respectively.

Any recent changes to analyst estimates for FLY should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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. Within the past 30 days, our consensus EPS projection has moved 43.66% higher. FLY is currently sporting a Zacks Rank of #2 (Buy).

Investors should also note FLY's current valuation metrics, including its Forward P/E ratio of 3.66. For comparison, its industry has an average Forward P/E of 9.74, which means FLY is trading at a discount to the group.

The Transportation - Equipment and Leasing industry is part of the Transportation sector. This group has a Zacks Industry Rank of 148, putting it in the bottom 43% 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.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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