AerCap (NYSE:AER) Board of Directors Initiates Share Repurchase Program

AerCap (NYSE:AER) declared that its board has approved a stock repurchase program on Wednesday, February 26th, RTT News reports. The company plans to buyback $1.00 billion in shares. This buyback authorization permits the financial services provider to reacquire up to 4.9% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s leadership believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. 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. Barclays reiterated an “overweight” rating and set a $115.00 price target (up previously from $113.00) on shares of AerCap in a report on Thursday. Finally, Susquehanna boosted their price target on shares of AerCap from $108.00 to $120.00 and gave the stock a “positive” rating in a report on Thursday. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $116.17.

AerCap Stock Up 0.6 %

Shares of NYSE:AER opened at $103.14 on Friday. The company has a market capitalization of $20.42 billion, a PE ratio of 8.17, a P/E/G ratio of 2.22 and a beta of 1.81. 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 twelve month low of $76.14 and a twelve month high of $107.36. The firm has a 50 day simple moving average of $97.20 and a 200-day simple moving average of $95.98.

AerCap (NYSE:AER) last issued its quarterly earnings data on Wednesday, February 26th. The financial services provider reported $3.31 earnings per share for the quarter, topping the consensus estimate of $2.56 by $0.75. The business had revenue of $2.07 billion during the quarter, compared to the consensus estimate of $1.97 billion. AerCap had a net margin of 32.38% and a return on equity of 13.98%. On average, equities analysts predict that AerCap will post 11.29 EPS for the current fiscal year.

AerCap Increases Dividend

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

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.