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Can FLY Leasing Limited (FLY) Keep the Earnings Streak Alive This Quarter?

Looking for a stock that might be in a good position to beat earnings at its next report? Consider FLY Leasing Limited FLY, a firm in the Transportation-Equipment & Leasing industry, which could be a great candidate for another beat.

This company has seen a nice streak of beating earnings estimates, especially when looking at the previous two reports. In fact, in these reports, FLY has beaten estimates by at least 15% in both cases, suggesting it has a nice short-term history of crushing expectations.

Earnings in Focus

Two quarters ago, FLY expected to post earnings of 67 cents per share, while it actually produced earnings of 78 cents per share, a beat of 16.4%. Meanwhile, for the most recent quarter, the company looked to deliver earnings of 84 cents per share, when it actually produced earnings of $1.54 per share instead, representing a 83.3% surprise.

Thanks in part to this history, recent estimates have been moving higher for Fly Leasing. In fact, the Earnings ESP for FLY is positive, which is a great sign of a coming beat.

After all, the Zacks Earnings ESP compares the most accurate estimate to the broad consensus, looking to find stocks that have seen big revisions as of late, suggesting that analysts have recently become more bullish on the company’s earnings prospects. This is the case for FLY as the firm currently has a Zacks Earnings ESP of 3.70%, so another beat could be around the corner.

This is particularly true when you consider that FLY has a great Zacks Rank #2 (Buy) which can be a harbinger of outperformance and a signal for a strong earnings profile. And when you add this solid Zacks Rank to a positive Earnings ESP, a positive earnings surprise happens nearly 70% of the time, so it seems pretty likely that FLY could see another beat at its next report, especially if recent trends are any guide.

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FLY LEASING LTD (FLY): Free Stock Analysis Report
 
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