AerCap (NYSE:AER) Issues Earnings Results, Beats Expectations By $0.60 EPS

AerCap (NYSE:AER) announced its quarterly earnings results on Thursday. The financial services provider reported $3.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.41 by $0.60, Briefing.com reports. The firm had revenue of $1.96 billion during the quarter, compared to the consensus estimate of $1.89 billion. AerCap had a return on equity of 15.21% and a net margin of 42.02%. The firm’s quarterly revenue was up 1.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.56 EPS. AerCap updated its FY 2024 guidance to 10.250-10.25 EPS.

AerCap Stock Performance

NYSE:AER traded down $5.39 during trading hours on Friday, reaching $86.61. 3,672,831 shares of the stock were exchanged, compared to its average volume of 1,445,035. The stock has a market capitalization of $17.14 billion, a P/E ratio of 5.64, a P/E/G ratio of 2.28 and a beta of 1.83. The firm has a 50 day simple moving average of $93.02 and a 200-day simple moving average of $86.41. The company has a quick ratio of 0.26, a current ratio of 0.26 and a debt-to-equity ratio of 2.70. AerCap has a 52 week low of $57.30 and a 52 week high of $98.79.

AerCap Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 5th. Shareholders of record on Wednesday, August 14th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.15%. The ex-dividend date is Wednesday, August 14th. AerCap’s payout ratio is currently 6.51%.

Analysts Set New Price Targets

AER has been the topic of several analyst reports. Deutsche Bank Aktiengesellschaft raised their target price on AerCap from $95.00 to $110.00 and gave the company a “buy” rating in a report on Thursday, May 9th. TD Cowen reissued a “buy” rating and set a $125.00 target price on shares of AerCap in a research report on Monday, July 29th. Barclays raised their price target on shares of AerCap from $111.00 to $113.00 and gave the company an “overweight” rating in a report on Friday. Morgan Stanley began coverage on shares of AerCap in a report on Friday, June 7th. They issued an “equal weight” rating and a $103.00 price objective on the stock. Finally, Susquehanna raised their target price on AerCap from $100.00 to $108.00 and gave the company a “positive” rating in a research note on Friday. One analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $102.38.

About AerCap

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.