AerCap (NYSE:AER) to Buyback $1.00 billion in Outstanding Stock

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

Analysts Set New Price Targets

Separately, The Goldman Sachs Group reissued a “buy” rating and set a $119.00 price objective on shares of AerCap in a research note on Thursday, November 21st. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $113.83.

AerCap Stock Performance

Shares of AerCap stock opened at $102.24 on Thursday. AerCap has a 52 week low of $76.00 and a 52 week high of $107.36. The business’s fifty day simple moving average is $97.01 and its 200-day simple moving average is $95.94. The firm has a market cap of $20.24 billion, a PE ratio of 8.10, a price-to-earnings-growth ratio of 2.22 and a beta of 1.81. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 2.89.

AerCap (NYSE:AER) last announced its quarterly earnings results on Wednesday, February 26th. The financial services provider reported $3.31 EPS for the quarter, beating the consensus estimate of $2.56 by $0.75. AerCap had a return on equity of 13.98% and a net margin of 32.38%. Equities analysts forecast that AerCap will post 11.29 earnings per share for the current year.

AerCap Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 3rd. Stockholders of record on Wednesday, March 12th will be paid a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 1.06%. This is a positive change from AerCap’s previous quarterly dividend of $0.25. AerCap’s dividend payout ratio is 7.92%.

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.