FTAI Aviation (NYSE:FTAI) Shares Down 10.8% Following Weak Earnings

FTAI Aviation Ltd. (NYSE:FTAI)’s share price dropped 10.8% during trading on Thursday following a weaker than expected earnings announcement. The company traded as low as $128.00 and last traded at $129.65. Approximately 781,504 shares changed hands during mid-day trading, a decline of 24% from the average daily volume of 1,025,226 shares. The stock had previously closed at $145.30.

The financial services provider reported $0.76 earnings per share for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.01). The firm had revenue of $465.80 million during the quarter, compared to analyst estimates of $422.45 million. FTAI Aviation had a return on equity of 198.02% and a net margin of 1.59%. The business’s revenue for the quarter was up 60.0% on a year-over-year basis. During the same quarter last year, the company earned $0.33 earnings per share.

Analyst Ratings Changes

FTAI has been the subject of a number of recent research reports. Royal Bank of Canada reiterated an “outperform” rating and set a $160.00 price objective on shares of FTAI Aviation in a research report on Friday. Jefferies Financial Group increased their price objective on FTAI Aviation from $140.00 to $155.00 and gave the company a “buy” rating in a research report on Monday, September 30th. Wolfe Research downgraded FTAI Aviation from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, July 10th. Compass Point boosted their target price on shares of FTAI Aviation from $118.00 to $156.00 and gave the company a “buy” rating in a research note on Friday, September 27th. Finally, JMP Securities boosted their target price on shares of FTAI Aviation from $90.00 to $132.00 and gave the company a “market outperform” rating in a research note on Thursday, July 25th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $162.09.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in FTAI. Capital International Investors acquired a new position in FTAI Aviation in the first quarter worth about $274,052,000. American Century Companies Inc. increased its holdings in shares of FTAI Aviation by 1,923.5% during the second quarter. American Century Companies Inc. now owns 972,806 shares of the financial services provider’s stock worth $100,423,000 after buying an additional 924,730 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of FTAI Aviation by 1,488.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 867,963 shares of the financial services provider’s stock worth $58,415,000 after buying an additional 813,311 shares in the last quarter. International Assets Investment Management LLC increased its holdings in shares of FTAI Aviation by 14,553.9% during the third quarter. International Assets Investment Management LLC now owns 564,028 shares of the financial services provider’s stock worth $74,959,000 after buying an additional 560,179 shares in the last quarter. Finally, Vanguard Group Inc. increased its holdings in shares of FTAI Aviation by 6.3% during the first quarter. Vanguard Group Inc. now owns 9,040,503 shares of the financial services provider’s stock worth $608,426,000 after buying an additional 533,381 shares in the last quarter. Institutional investors and hedge funds own 88.96% of the company’s stock.

FTAI Aviation Stock Up 6.0 %

The company has a market cap of $14.56 billion, a price-to-earnings ratio of -1,424.60 and a beta of 2.04. The company’s fifty day moving average price is $132.60 and its two-hundred day moving average price is $106.29.

About FTAI Aviation

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.