AerCap (NYSE:AER) Stock Price Expected to Rise, Bank of America Analyst Says

AerCap (NYSE:AER - Free Report) had its price objective raised by Bank of America from $105.00 to $125.00 in a research report sent to investors on Friday,Benzinga reports. They currently have a buy rating on the financial services provider's stock.

Other research analysts also recently issued reports about the company. Barclays reaffirmed an "overweight" rating and set a $115.00 price target (up from $113.00) on shares of AerCap in a research note on Thursday, February 27th. The Goldman Sachs Group reaffirmed a "buy" rating and set a $119.00 target price on shares of AerCap in a research report on Thursday, November 21st. Finally, Susquehanna lifted their price target on shares of AerCap from $108.00 to $120.00 and gave the company a "positive" rating in a research report on Thursday, February 27th. One equities 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, the company currently has an average rating of "Moderate Buy" and an average price target of $117.43.

AerCap Trading Down 1.5 %

Shares of AER stock traded down $1.57 during trading hours on Friday, hitting $99.63. 2,475,618 shares of the company were exchanged, compared to its average volume of 1,374,195. The company has a 50 day simple moving average of $97.88 and a two-hundred day simple moving average of $96.31. The firm has a market cap of $18.61 billion, a P/E ratio of 7.89, a P/E/G ratio of 2.22 and a beta of 1.83. The company has a debt-to-equity ratio of 2.89, a quick ratio of 0.67 and a current ratio of 0.67. AerCap has a fifty-two week low of $80.90 and a fifty-two week high of $107.36.

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AerCap (NYSE:AER - Get Free Report) last posted its quarterly 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. AerCap had a net margin of 32.38% and a return on equity of 13.98%. The business had revenue of $2.07 billion during the quarter, compared to analysts' expectations of $1.97 billion. Equities analysts anticipate that AerCap will post 11.29 EPS for the current year.

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

AerCap Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 3rd. Investors of record on Wednesday, March 12th will be given a dividend of $0.27 per share. This is a boost from AerCap's previous quarterly dividend of $0.25. The ex-dividend date is Wednesday, March 12th. This represents a $1.08 annualized dividend and a dividend yield of 1.08%. AerCap's payout ratio is presently 9.99%.

Hedge Funds Weigh In On AerCap

Hedge funds have recently bought and sold shares of the company. Norges Bank bought a new position in shares of AerCap during the fourth quarter valued at about $218,517,000. Darsana Capital Partners LP bought a new position in shares of AerCap during the 3rd quarter worth approximately $94,720,000. Alyeska Investment Group L.P. boosted its stake in shares of AerCap by 139.1% in the 4th quarter. Alyeska Investment Group L.P. now owns 1,505,799 shares of the financial services provider's stock worth $144,105,000 after buying an additional 875,950 shares during the last quarter. TOMS Capital Investment Management LP grew its holdings in shares of AerCap by 118.8% in the fourth quarter. TOMS Capital Investment Management LP now owns 1,398,000 shares of the financial services provider's stock valued at $133,789,000 after acquiring an additional 759,000 shares in the last quarter. Finally, Millennium Management LLC increased its position in shares of AerCap by 190.7% during the fourth quarter. Millennium Management LLC now owns 1,074,931 shares of the financial services provider's stock valued at $102,871,000 after acquiring an additional 705,212 shares during the last quarter. 96.42% of the stock is owned by hedge funds and other institutional investors.

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.