Analysts forecast that Air Lease Corp (NYSE:AL) will report earnings of $1.39 per share for the current fiscal quarter, according to Zacks Investment Research. Three analysts have issued estimates for Air Lease’s earnings, with estimates ranging from $1.29 to $1.47. Air Lease posted earnings of $1.41 per share in the same quarter last year, which would suggest a negative year over year growth rate of 1.4%. The business is scheduled to issue its next earnings report on Thursday, November 14th.
On average, analysts expect that Air Lease will report full-year earnings of $5.24 per share for the current financial year, with EPS estimates ranging from $5.04 to $5.55. For the next fiscal year, analysts forecast that the business will report earnings of $6.51 per share, with EPS estimates ranging from $6.20 to $6.92. Zacks’ EPS calculations are a mean average based on a survey of research firms that follow Air Lease.
Air Lease (NYSE:AL) last posted its earnings results on Thursday, August 8th. The transportation company reported $1.10 EPS for the quarter, missing the Zacks’ consensus estimate of $1.27 by ($0.17). Air Lease had a net margin of 30.00% and a return on equity of 11.44%. The firm had revenue of $471.40 million for the quarter, compared to analysts’ expectations of $483.40 million. During the same period in the previous year, the company earned $1.44 EPS. The company’s revenue was up 18.5% on a year-over-year basis.
A number of equities research analysts recently commented on AL shares. Cowen reissued an “outperform” rating and set a $49.00 target price (down previously from $50.00) on shares of Air Lease in a research report on Friday, August 9th. ValuEngine cut shares of Air Lease from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. Finally, Zacks Investment Research cut shares of Air Lease from a “hold” rating to a “sell” rating and set a $43.00 target price for the company. in a research report on Friday, August 2nd. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $49.43.
NYSE:AL traded down $1.06 during midday trading on Wednesday, reaching $37.92. 1,307 shares of the stock traded hands, compared to its average volume of 897,295. Air Lease has a 12-month low of $28.13 and a 12-month high of $47.34. The firm has a 50-day moving average price of $40.87. The company has a debt-to-equity ratio of 2.29, a current ratio of 0.81 and a quick ratio of 0.81. The company has a market cap of $4.23 billion, a PE ratio of 8.24, a PEG ratio of 1.15 and a beta of 1.95.
The business also recently declared a quarterly dividend, which will be paid on Friday, October 4th. Shareholders of record on Sunday, September 15th will be paid a dividend of $0.13 per share. The ex-dividend date is Thursday, September 12th. This represents a $0.52 dividend on an annualized basis and a yield of 1.37%. Air Lease’s payout ratio is 11.30%.
In other Air Lease news, CEO John L. Plueger sold 395,806 shares of the company’s stock in a transaction that occurred on Friday, May 17th. The shares were sold at an average price of $38.16, for a total transaction of $15,103,956.96. Following the transaction, the chief executive officer now owns 914,145 shares in the company, valued at approximately $34,883,773.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Marc H. Baer sold 130,000 shares of the company’s stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $36.80, for a total transaction of $4,784,000.00. Following the transaction, the executive vice president now owns 275,008 shares in the company, valued at approximately $10,120,294.40. The disclosure for this sale can be found here. Corporate insiders own 8.76% of the company’s stock.
A number of institutional investors have recently modified their holdings of the business. Dimensional Fund Advisors LP increased its stake in shares of Air Lease by 7.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 4,305,235 shares of the transportation company’s stock worth $130,060,000 after acquiring an additional 289,140 shares during the period. Royce & Associates LP increased its stake in shares of Air Lease by 6.8% in the first quarter. Royce & Associates LP now owns 3,271,375 shares of the transportation company’s stock worth $112,372,000 after acquiring an additional 209,203 shares during the period. Ellis Investment Partners LLC increased its stake in shares of Air Lease by 3,293.8% in the first quarter. Ellis Investment Partners LLC now owns 2,259,600 shares of the transportation company’s stock worth $2,259,000 after acquiring an additional 2,193,019 shares during the period. Federated Investors Inc. PA increased its stake in shares of Air Lease by 13.4% in the first quarter. Federated Investors Inc. PA now owns 2,121,044 shares of the transportation company’s stock worth $72,858,000 after acquiring an additional 251,000 shares during the period. Finally, Douglas Lane & Associates LLC increased its stake in shares of Air Lease by 6.2% in the second quarter. Douglas Lane & Associates LLC now owns 1,451,922 shares of the transportation company’s stock worth $60,022,000 after acquiring an additional 84,935 shares during the period. Institutional investors and hedge funds own 85.49% of the company’s stock.
Air Lease Company Profile
Air Lease Corporation, an aircraft leasing company, engages in the purchase and leasing of commercial jet transport aircraft to airlines worldwide. The company also sells aircraft from its operating lease portfolio to third parties, including other leasing companies, financial services companies, and airlines.
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