Fly Leasing, Ltd. (NYSE:FLY)

About to take off

As global passenger flows increase the entire industry of aircraft leasing should benefit.

Here's a cool airplane leasing company for you to consider. Led by Colm Barrington former President of GE Capital Aviation Services Limited currently CEO and a Director of Fly leasing. Fly leases large aircraft 747's and A-20's make up most of its fleet. They released the 4 Q and Full year reports this morning. 4 Q beat analysts forecast on revenue by $0.38 cents a share. (There are very god reasons for this) Its now trading at 13.70 ish range. A 13 times multiple of the 2011 eps is approximately $18.00 per share. The book value per share currently is approximately $17.46 per outstanding share. So this play has a %22 upside on book value alone and a 24% upside potential on the 2011 earning multiple of 13 time.

This does not take into account that its revenue should maintain the current $0.80 per share in the coming Q's since the company's fleet size nearly doubled in the 4Q 2011 which is why the revenues spiked. On top of this they have issued consistent $0.20 quarterly dividend since its IPO. Which at a share price of 13.70 = 5.8% return.

If the company maintains its current EPS of $0.80 in a quarter that would mean nearly $3.20 per share annualized. If the company begins to be traded for its revenue per share a 10 Times Multiple it means this stock should see $32.00 per share based on earning but at a 13 times multiple $41.60 per share. Truthfully the stock has been so under the markets radar that I do not believe it will see north of $22.00 as its market cap is too low for traders to consider it a worthy stock.

To boot all this good prospect the company only has 25.6 million outsanding common share and last bought back 1.1 million in the last year alone. Management saw that the market has undervalued the company for quite some time and they took advantage of this to repurchase significant portions of the company stock.

On top of this FLY owns 20% stake in BBAM, which also leases Fly's aircraft as well as a significant portion of the rest of the industry's other airline leasing companies so FLY derives revenue from 2 differing sources within the same industry
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Edgar: http://www.sec.gov/Archives/edgar/data/1407298/000119312512102361/d312334dex991.htm

http://www.4-traders.com/FLY-LEASING-LTD-416516/news/FLY-LEASING-LTD-FLY-Leasing-Reports-Fourth-Quarter-and-Full-Year-2011-Financial-Results-14204600/

and yes I have been a holder of fly for 1.5 years and have a substantial position.

This is a play on the ability of highly-leveraged dividend-paying companies to outperform in the current interest rate environment.

Cheap money + high Jet A prices = good business for these guys.

solid company with predictable earnings growth

With the economy turning around leasing should increase. The dividend is a plus.

While not a fan of its current fleet, I believe that this ex-Babcock company will jump on the dirigible bandwagon as soon as possible. Heavier than air aircraft are definitely not part of the future.

Sorry, Boeing! Engines still needed though, GE !

5 STAR, Small-cap, dividend payer

Solid business plan. But, they have a lotttttt of debt to pay off beginning in late 2012.

Good PE and good dividend

P/E of 6.8 and a dividend yield over 6% make this stock seem like a rdiculously good deal. With airlines doing well I expect demand for leases to remain high, so the downside doesn't seem bad. Insider ownership is nearly 15%, which gives me an extra vote of confidence.

low PE great dividend... stock buy back in process...

Good divined yield, Air travel is coming back and ticket price stable. Air plane leasing should benefit from this trend.

Look, up in the sky

It's Superfly.

Sound fundamentals.

Great fundamentals

Dirt cheap stock. Well below book value. 8% div. Where's the P/E?!

This stock ROCKS!!!!