AerCap (NYSE:AER) Issues FY24 Earnings Guidance

AerCap (NYSE:AER) issued an update on its FY24 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of ~$9.20 for the period, compared to the consensus estimate of $9.75. AerCap also updated its FY 2024 guidance to 9.200-9.200 EPS.

AerCap Stock Up 0.9 %

NYSE AER traded up $0.78 during midday trading on Friday, hitting $87.60. 1,137,735 shares of the company traded hands, compared to its average volume of 1,540,155. AerCap has a 52 week low of $53.42 and a 52 week high of $88.54. The company’s 50-day simple moving average is $83.94 and its 200-day simple moving average is $75.54. The company has a market cap of $17.34 billion, a PE ratio of 5.70, a price-to-earnings-growth ratio of 2.97 and a beta of 1.84. The company has a debt-to-equity ratio of 2.70, a current ratio of 0.26 and a quick ratio of 0.33.

AerCap (NYSE:AER) last announced its earnings results on Wednesday, May 1st. The financial services provider reported $3.29 EPS for the quarter, topping analysts’ consensus estimates of $2.31 by $0.98. AerCap had a net margin of 42.78% and a return on equity of 15.29%. The business had revenue of $2.02 billion during the quarter, compared to the consensus estimate of $1.95 billion. During the same period in the previous year, the company posted $2.34 earnings per share. The firm’s revenue was up 8.1% on a year-over-year basis. As a group, equities research analysts forecast that AerCap will post 9.2 earnings per share for the current year.

Analysts Set New Price Targets

AER has been the subject of several recent analyst reports. BMO Capital Markets lowered their target price on shares of AerCap from $103.00 to $101.00 and set an outperform rating for the company in a research note on Monday, February 26th. TD Cowen boosted their target price on AerCap from $95.00 to $100.00 and gave the stock a buy rating in a research note on Thursday. Barclays upped their target price on AerCap from $93.00 to $94.00 and gave the company an overweight rating in a research report on Thursday. Finally, Susquehanna raised their price target on AerCap from $90.00 to $100.00 and gave the stock a positive rating in a report on Thursday. Eight equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has an average rating of Buy and an average price target of $91.43.

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.