Fly Leasing Ltd(ADR) (FLY) Formed Bullish Inverse H&S Pattern; Buyers Could Thrive

September 17, 2017 - By Kurt Siggers

The stock of Fly Leasing Ltd(ADR) (FLY) formed H&SI with $14.64 price target or 3.00 % above the current $14.21 share price. The 6 months Head & Shoulders Inverse reveals low risk for the $428.79 million company. This trade was featured by Faxor.com on Sep, 17. If the $14.64 target price is reached, the company’s valuation will be $12.86 million more.
Inverse Head-and-shoulders are some of the best chart patterns to trade. These formations work as in bear as in bull markets and many researchers states that they have very low failure rates. Despite the high pullback rate, these trading patterns are usually good places to trade based on their risk-reward profile. Industry experts’s backtests show that 55% of these patterns reach their targets.

The stock decreased 0.84% or $0.12 on September 15, reaching $14.21. About 122,768 shares traded. Fly Leasing Ltd(ADR) (NYSE:FLY) has risen 12.56% since September 17, 2016 and is uptrending. It has underperformed by 4.14% the S&P500.

Wall Street await Fly Leasing Ltd(ADR) (NYSE:FLY) to release earnings on November, 16. Analysts forecast earnings per share of $0.36, down exactly $0.17 or 32.08 % from 2014’s $0.53 EPS. The expected FLY’s profit could reach $10.86 million giving the stock 9.87 P/E in the case that $0.36 earnings per share is reported. After posting $0.31 EPS for the previous quarter, Fly Leasing Ltd(ADR)’s analysts now forecast 16.13 % EPS growth.

Fly Leasing Ltd(ADR) (NYSE:FLY) Ratings Coverage

Among 6 analysts covering FLY Leasing (NYSE:FLY), 4 have Buy rating, 1 Sell and 1 Hold. Therefore 67% are positive. FLY Leasing had 16 analyst reports since July 29, 2015 according to SRatingsIntel. The firm has “Neutral” rating by Bank of America given on Monday, September 21. RBC Capital Markets maintained it with “Buy” rating and $2600 target in Friday, August 11 report. The rating was downgraded by JP Morgan to “Underweight” on Friday, November 13. The firm has “Outperform” rating by RBC Capital Markets given on Friday, July 31. The company was maintained on Friday, March 10 by RBC Capital Markets. The stock of Fly Leasing Ltd(ADR) (NYSE:FLY) earned “Buy” rating by Cowen & Co on Monday, July 10. On Tuesday, March 15 the stock rating was maintained by Citigroup with “Buy”. RBC Capital Markets maintained the shares of FLY in report on Wednesday, July 19 with “Buy” rating. Citigroup maintained the shares of FLY in report on Friday, August 19 with “Buy” rating. The stock of Fly Leasing Ltd(ADR) (NYSE:FLY) has “Buy” rating given on Monday, April 24 by RBC Capital Markets.

More news for Fly Leasing Ltd(ADR) (NYSE:FLY) were recently published by: Thestreet.com, which released: “What To Sell: 3 Sell-Rated Dividend Stocks FLY, ERF, ISH” on October 28, 2015. Dividend.com‘s article titled: “Fly Leasing Ltd.” and published on October 23, 2010 is yet another important article.

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