Bank of America Forecasts Strong Price Appreciation for AerCap (NYSE:AER) Stock

AerCap (NYSE:AER) had its price objective boosted by Bank of America from $105.00 to $125.00 in a report released on Friday,Benzinga reports. The brokerage currently has a buy rating on the financial services provider’s stock.

AER has been the subject of a number of other research reports. The Goldman Sachs Group reissued a “buy” rating and issued a $119.00 target price on shares of AerCap in a report on Thursday, November 21st. Susquehanna increased their target price on shares of AerCap from $108.00 to $120.00 and gave the stock a “positive” rating in a report on Thursday, February 27th. Finally, Barclays reaffirmed an “overweight” rating and issued a $115.00 price objective (up previously from $113.00) on shares of AerCap in a research note on Thursday, February 27th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $117.43.

AerCap Trading Down 1.5 %

AER opened at $99.63 on Friday. AerCap has a twelve month low of $80.90 and a twelve month high of $107.36. The company has a 50-day simple moving average of $97.88 and a 200 day simple moving average of $96.33. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 2.89. The stock has a market capitalization of $18.61 billion, a price-to-earnings ratio of 7.89, a P/E/G ratio of 2.22 and a beta of 1.83.

AerCap (NYSE:AER) last posted its earnings results on Wednesday, February 26th. The financial services provider reported $3.31 EPS for the quarter, topping analysts’ consensus estimates of $2.56 by $0.75. The firm had revenue of $2.07 billion during the quarter, compared to analysts’ expectations of $1.97 billion. AerCap had a net margin of 32.38% and a return on equity of 13.98%. Analysts predict that AerCap will post 11.29 EPS for the current fiscal year.

AerCap Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 3rd. Shareholders of record on Wednesday, March 12th will be given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 1.08%. The ex-dividend date of this dividend is Wednesday, March 12th. This is an increase from AerCap’s previous quarterly dividend of $0.25. AerCap’s dividend payout ratio is currently 9.99%.

AerCap announced that its board has authorized a share repurchase plan on Wednesday, February 26th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the financial services provider to reacquire up to 4.9% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board believes its stock is undervalued.

Institutional Trading of AerCap

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. First Horizon Advisors Inc. increased its position in AerCap by 15.3% during the 3rd quarter. First Horizon Advisors Inc. now owns 814 shares of the financial services provider’s stock valued at $77,000 after purchasing an additional 108 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd increased its position in AerCap by 0.6% during the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 19,192 shares of the financial services provider’s stock valued at $1,837,000 after purchasing an additional 115 shares during the period. Signaturefd LLC increased its position in AerCap by 3.2% during the 4th quarter. Signaturefd LLC now owns 5,717 shares of the financial services provider’s stock valued at $547,000 after purchasing an additional 177 shares during the period. Dorsey & Whitney Trust CO LLC increased its position in AerCap by 3.8% during the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 5,322 shares of the financial services provider’s stock valued at $509,000 after purchasing an additional 194 shares during the period. Finally, Inspire Advisors LLC increased its position in AerCap by 3.4% during the 4th quarter. Inspire Advisors LLC now owns 6,336 shares of the financial services provider’s stock valued at $606,000 after purchasing an additional 209 shares during the period. Institutional investors and hedge funds own 96.42% of the company’s stock.

AerCap Company Profile

AerCap Holdings N.V. engages in the lease, financing, sale, and management of commercial flight equipment in China, Hong Kong, Macau, the United States, Ireland, and internationally. The company offers aircraft asset management services, such as remarketing aircraft and engines; collecting rental and maintenance rent payments, monitoring aircraft maintenance, monitoring and enforcing contract compliance, and accepting delivery and redelivery of aircraft and engines; and conducting ongoing lessee financial performance reviews.