FTAI Aviation (NYSE:FTAI) Shares Gap Down on Disappointing Earnings

FTAI Aviation Ltd. (NYSE:FTAI) gapped down before the market opened on Thursday after the company announced weaker than expected quarterly earnings. The stock had previously closed at $107.11, but opened at $102.50. FTAI Aviation shares last traded at $98.58, with a volume of 212,773 shares.

The financial services provider reported $0.87 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.08). FTAI Aviation had a net margin of 1.59% and a return on equity of 206.25%. During the same period in the previous year, the firm posted $0.31 EPS. The business’s revenue was up 53.7% compared to the same quarter last year.

FTAI Aviation Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Friday, May 16th will be issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.33%. The ex-dividend date of this dividend is Friday, May 16th. FTAI Aviation’s payout ratio is presently -342.86%.

Analysts Set New Price Targets

A number of brokerages have commented on FTAI. Morgan Stanley dropped their target price on shares of FTAI Aviation from $168.00 to $138.00 and set an “overweight” rating on the stock in a research note on Friday, April 11th. Wolfe Research raised FTAI Aviation from a “peer perform” rating to an “outperform” rating and set a $190.00 price objective on the stock in a research note on Friday, January 10th. Stifel Nicolaus raised FTAI Aviation from a “hold” rating to a “buy” rating and set a $123.00 target price for the company in a research report on Friday. Citigroup reiterated a “buy” rating on shares of FTAI Aviation in a report on Thursday, March 6th. Finally, Royal Bank of Canada cut their price target on FTAI Aviation from $140.00 to $130.00 and set an “outperform” rating on the stock in a research note on Friday. One analyst has rated the stock with a sell rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $167.83.

Insider Activity

In other news, CEO Joseph P. Jr. Adams purchased 3,000 shares of the stock in a transaction on Friday, May 2nd. The stock was bought at an average price of $94.54 per share, with a total value of $283,620.00. Following the transaction, the chief executive officer now owns 341,852 shares in the company, valued at $32,318,688.08. The trade was a 0.89 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO David Moreno purchased 6,580 shares of the company’s stock in a transaction on Friday, May 2nd. The shares were purchased at an average price of $94.85 per share, for a total transaction of $624,113.00. Following the purchase, the chief operating officer now owns 231,623 shares in the company, valued at approximately $21,969,441.55. The trade was a 2.92 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 1.60% of the company’s stock.

Institutional Investors Weigh In On FTAI Aviation

Institutional investors and hedge funds have recently modified their holdings of the company. Versant Capital Management Inc raised its position in FTAI Aviation by 420.9% during the 1st quarter. Versant Capital Management Inc now owns 224 shares of the financial services provider’s stock worth $25,000 after buying an additional 181 shares during the last quarter. Virtus Fund Advisers LLC acquired a new stake in shares of FTAI Aviation in the fourth quarter worth $26,000. Transce3nd LLC purchased a new position in shares of FTAI Aviation during the fourth quarter worth $29,000. Kapitalo Investimentos Ltda acquired a new position in FTAI Aviation during the fourth quarter valued at $30,000. Finally, Anchor Investment Management LLC purchased a new stake in FTAI Aviation in the third quarter valued at $31,000. Institutional investors and hedge funds own 88.96% of the company’s stock.

FTAI Aviation Trading Up 3.5 %

The firm has a 50-day simple moving average of $105.00 and a two-hundred day simple moving average of $126.67. The company has a market capitalization of $9.22 billion, a price-to-earnings ratio of -899.41 and a beta of 1.79.

FTAI Aviation Company Profile

FTAI Aviation Ltd. owns and acquires aviation and offshore energy equipment for the transportation of goods and people worldwide. It operates through two segments, Aviation Leasing and Aerospace Products. The Aviation Leasing segment owns and manages aviation assets, including aircraft and aircraft engines, which it leases and sells to customers.