AerCap (NYSE:AER) to Buyback $1.00 billion in Outstanding Stock

AerCap (NYSE:AER) declared that its board has initiated a stock buyback program on Wednesday, February 26th, RTT News reports. The company plans to buyback $1.00 billion in outstanding shares. This buyback authorization permits the financial services provider to reacquire up to 4.9% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s management believes its shares are undervalued.

Analyst Ratings Changes

Separately, The Goldman Sachs Group restated a “buy” rating and set a $119.00 price target on shares of AerCap in a report on Thursday, November 21st. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $113.83.

AerCap Price Performance

Shares of NYSE AER opened at $102.24 on Thursday. The stock’s 50-day moving average is $97.01 and its two-hundred day moving average is $95.94. The company has a debt-to-equity ratio of 2.89, a current ratio of 0.67 and a quick ratio of 0.67. AerCap has a 1-year low of $76.00 and a 1-year high of $107.36. The company has a market cap of $20.24 billion, a price-to-earnings ratio of 8.10, a price-to-earnings-growth ratio of 2.22 and a beta of 1.81.

AerCap (NYSE:AER) last issued its quarterly earnings results on Wednesday, February 26th. The financial services provider reported $3.31 earnings per share for the quarter, topping the consensus estimate of $2.56 by $0.75. AerCap had a return on equity of 13.98% and a net margin of 32.38%. Analysts forecast that AerCap will post 11.29 EPS for the current fiscal year.

AerCap Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 3rd. Stockholders of record on Wednesday, March 12th will be issued a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.06%. This is an increase from AerCap’s previous quarterly dividend of $0.25. AerCap’s dividend payout ratio is presently 7.92%.

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.