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$146.86 Million in Sales Expected for Fortress Transportation and Infrastructure Investors LLC (NYSE:FTAI) This Quarter

Thursday, October 14, 2021 | MarketBeat

Equities analysts forecast that Fortress Transportation and Infrastructure Investors LLC (NYSE:FTAI) will report $146.86 million in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for Fortress Transportation and Infrastructure Investors' earnings, with the lowest sales estimate coming in at $132.77 million and the highest estimate coming in at $160.94 million. Fortress Transportation and Infrastructure Investors reported sales of $83.71 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 75.4%. The firm is expected to report its next earnings results after the market closes on Thursday, October 28th.

On average, analysts expect that Fortress Transportation and Infrastructure Investors will report full year sales of $514.65 million for the current year, with estimates ranging from $485.54 million to $543.76 million. For the next financial year, analysts expect that the company will post sales of $874.44 million, with estimates ranging from $796.82 million to $952.06 million. Zacks' sales averages are an average based on a survey of sell-side research firms that follow Fortress Transportation and Infrastructure Investors.

Fortress Transportation and Infrastructure Investors (NYSE:FTAI) last posted its quarterly earnings data on Tuesday, July 27th. The financial services provider reported ($0.39) EPS for the quarter, missing the consensus estimate of ($0.26) by ($0.13). Fortress Transportation and Infrastructure Investors had a negative return on equity of 10.51% and a negative net margin of 42.62%. The firm had revenue of $96.92 million for the quarter, compared to the consensus estimate of $90.55 million.

Several equities analysts have issued reports on the stock. JMP Securities increased their price objective on shares of Fortress Transportation and Infrastructure Investors from $35.00 to $36.00 and gave the company a "market outperform" rating in a report on Friday, July 23rd. Zacks Investment Research lowered shares of Fortress Transportation and Infrastructure Investors from a "hold" rating to a "strong sell" rating in a research note on Tuesday, September 14th. Citigroup initiated coverage on shares of Fortress Transportation and Infrastructure Investors in a research note on Wednesday, June 16th. They issued a "buy" rating for the company. Barclays began coverage on shares of Fortress Transportation and Infrastructure Investors in a research note on Monday, September 20th. They issued an "overweight" rating and a $31.00 price target for the company. Finally, began coverage on shares of Fortress Transportation and Infrastructure Investors in a report on Wednesday, June 16th. They set a "buy" rating on the stock. One investment analyst has rated the stock with a sell rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Buy" and an average target price of $31.43.

In other news, Director Martin Tuchman acquired 100,000 shares of Fortress Transportation and Infrastructure Investors stock in a transaction that occurred on Tuesday, September 14th. The shares were purchased at an average cost of $25.50 per share, for a total transaction of $2,550,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.30% of the company's stock.

Several large investors have recently added to or reduced their stakes in FTAI. Gilman Hill Asset Management LLC boosted its position in Fortress Transportation and Infrastructure Investors by 6.0% during the 3rd quarter. Gilman Hill Asset Management LLC now owns 269,861 shares of the financial services provider's stock worth $6,849,000 after acquiring an additional 15,185 shares during the period. Altfest L J & Co. Inc. increased its position in Fortress Transportation and Infrastructure Investors by 58.0% in the 3rd quarter. Altfest L J & Co. Inc. now owns 12,284 shares of the financial services provider's stock worth $312,000 after buying an additional 4,510 shares during the period. Sphinx Trading LP bought a new position in Fortress Transportation and Infrastructure Investors in the 3rd quarter worth approximately $787,000. Bank of America Corp DE grew its holdings in shares of Fortress Transportation and Infrastructure Investors by 51.2% during the 2nd quarter. Bank of America Corp DE now owns 3,931,144 shares of the financial services provider's stock worth $131,890,000 after purchasing an additional 1,330,637 shares in the last quarter. Finally, Marshall Wace North America L.P. grew its holdings in shares of Fortress Transportation and Infrastructure Investors by 50.1% during the 2nd quarter. Marshall Wace North America L.P. now owns 117,656 shares of the financial services provider's stock worth $3,948,000 after purchasing an additional 39,267 shares in the last quarter. Institutional investors and hedge funds own 68.04% of the company's stock.

FTAI stock opened at $25.73 on Thursday. The firm's fifty day simple moving average is $26.42 and its 200-day simple moving average is $28.57. Fortress Transportation and Infrastructure Investors has a 12 month low of $15.31 and a 12 month high of $34.79. The company has a market capitalization of $2.20 billion, a P/E ratio of -14.14 and a beta of 1.92.

The business also recently declared a quarterly dividend, which was paid on Monday, August 30th. Shareholders of record on Monday, August 16th were issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 5.13%. The ex-dividend date was Friday, August 13th. Fortress Transportation and Infrastructure Investors's dividend payout ratio is presently -153.49%.

Fortress Transportation and Infrastructure Investors Company Profile

Fortress Transportation & Infrastructure Investors LLC engages in acquiring, managing and disposing of transportation and transportation-related infrastructure and equipment assets. It operates through the following segments: Aviation Leasing, Jefferson Terminal, and Ports and Terminals. The Aviation Leasing segment consists of aircraft and aircraft engines held for lease and are typically held long-term.

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This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected]

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