Wells Fargo & Co. Initiates Coverage on Fly Leasing Ltd(ADR) (FLY)

By admin | 7 years ago

Wells Fargo & Co. (NYSE: WFC) started coverage on shares of Fly Leasing Ltd(ADR) (NYSE: FLY) in a research note issued on Tuesday. The firm set an “outperform” rating on the stock.

Fly Leasing Ltd(ADR) traded up 1.00% on Tuesday, hitting $13.15. Fly Leasing Ltd(ADR) has a 1-year low of $10.00 and a 1-year high of $14.54. The company has a market cap of $338.9 million and a price-to-earnings ratio of 18.39.

The company last announced its quarterly results on Thursday, May 3rd. It reported $1.04 earnings per share (EPS) for the previous quarter, beating the Thomson Reuters consensus estimate of $0.33 EPS by $0.71. The company’s quarterly revenue was up 110.7% on a year-over-year basis. Analysts expect that Fly Leasing Ltd(ADR) will post $0.34 EPS next quarter.

Fly Leasing Limited, formerly Babcock & Brown Air Limited (B&B Air), is a global lessor of modern, fuel-efficient commercial jet aircraft.

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