AerCap (NYSE:AER) Board Approves Share Buyback Plan

AerCap (NYSE:AER - Get Free Report) announced that its Board of Directors has initiated a share repurchase program on Wednesday, February 26th, RTT News reports. The company plans to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the financial services provider to repurchase up to 4.9% of its shares through open market purchases. Shares buyback programs are typically a sign that the company's leadership believes its shares are undervalued.

AerCap Stock Up 0.6 %

AER stock traded up $0.60 during mid-day trading on Friday, hitting $103.14. The stock had a trading volume of 2,642,021 shares, compared to its average volume of 1,279,521. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 2.89. AerCap has a 1-year low of $76.14 and a 1-year high of $107.36. The company has a fifty day moving average of $97.37 and a 200 day moving average of $96.06. The stock has a market capitalization of $20.42 billion, a price-to-earnings ratio of 8.17, a PEG ratio of 2.22 and a beta of 1.81.

AerCap (NYSE:AER - Get Free Report) last released its earnings results on Wednesday, February 26th. The financial services provider reported $3.31 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.56 by $0.75. The firm had revenue of $2.07 billion for the quarter, compared to analyst estimates of $1.97 billion. AerCap had a return on equity of 13.98% and a net margin of 32.38%. On average, equities analysts expect that AerCap will post 11.29 EPS for the current fiscal year.

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AerCap Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 3rd. Shareholders of record on Wednesday, March 12th will be given a $0.27 dividend. The ex-dividend date is Wednesday, March 12th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.05%. This is an increase from AerCap's previous quarterly dividend of $0.25. AerCap's dividend payout ratio (DPR) is currently 9.99%.

Analysts Set New Price Targets

AER has been the topic of a number of recent analyst reports. Barclays reaffirmed an "overweight" rating and set a $115.00 target price (up from $113.00) on shares of AerCap in a research report on Thursday. The Goldman Sachs Group reiterated a "buy" rating and set a $119.00 price target on shares of AerCap in a report on Thursday, November 21st. Finally, Susquehanna lifted their price target on AerCap from $108.00 to $120.00 and gave the company a "positive" rating in a report on Thursday. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, AerCap presently has an average rating of "Moderate Buy" and a consensus price target of $116.17.

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.