Air Lease Corporation (NYSE:AL) had its price target raised by Cowen and Company from $45.00 to $54.00 in a research report sent to investors on Friday, Marketbeat Ratings reports. Cowen and Company currently has an outperform rating on the transportation company’s stock.
Several other research analysts have also recently weighed in on the stock. Zacks Investment Research cut shares of Air Lease Corporation from a hold rating to a sell rating in a research note on Thursday, November 9th. Royal Bank Of Canada reiterated a buy rating and set a $80.00 price target on shares of Air Lease Corporation in a research note on Thursday, November 2nd. Bank of America Corporation set a $47.00 price target on shares of Air Lease Corporation and gave the stock a hold rating in a research note on Thursday, October 19th. Finally, BidaskClub downgraded shares of Air Lease Corporation from a buy rating to a hold rating in a research report on Friday, August 11th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. Air Lease Corporation presently has an average rating of Buy and an average price target of $48.78.
Air Lease Corporation (NYSE AL) opened at $41.89 on Friday. The firm has a market cap of $4,463.07, a price-to-earnings ratio of 12.39, a PEG ratio of 1.31 and a beta of 1.83. Air Lease Corporation has a one year low of $33.75 and a one year high of $45.15. The company has a debt-to-equity ratio of 2.53, a quick ratio of 1.06 and a current ratio of 1.06.
Air Lease Corporation (NYSE:AL) last issued its quarterly earnings results on Thursday, November 9th. The transportation company reported $0.90 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.87 by $0.03. The business had revenue of $376.77 million for the quarter, compared to analysts’ expectations of $374.61 million. Air Lease Corporation had a net margin of 25.67% and a return on equity of 10.87%. The company’s revenue was up 6.1% compared to the same quarter last year. During the same quarter last year, the company posted $1.43 EPS. equities research analysts forecast that Air Lease Corporation will post 3.41 earnings per share for the current fiscal year.
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The business also recently declared a quarterly dividend, which will be paid on Thursday, January 4th. Shareholders of record on Thursday, December 14th will be issued a $0.10 dividend. This is an increase from Air Lease Corporation’s previous quarterly dividend of $0.08. This represents a $0.40 dividend on an annualized basis and a yield of 0.95%. The ex-dividend date of this dividend is Wednesday, December 13th. Air Lease Corporation’s payout ratio is currently 8.60%.
In other news, EVP Alex A. Khatibi sold 11,000 shares of the business’s stock in a transaction dated Monday, September 11th. The shares were sold at an average price of $40.00, for a total value of $440,000.00. Following the sale, the executive vice president now directly owns 142,786 shares in the company, valued at approximately $5,711,440. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Jie Chen sold 2,000 shares of the business’s stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $43.82, for a total transaction of $87,640.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 24,562 shares of company stock worth $1,000,003. 9.76% of the stock is currently owned by insiders.
Hedge funds have recently added to or reduced their stakes in the stock. SLS Management LLC purchased a new position in shares of Air Lease Corporation during the 2nd quarter worth about $1,535,000. Nationwide Fund Advisors boosted its stake in shares of Air Lease Corporation by 45.4% during the 2nd quarter. Nationwide Fund Advisors now owns 33,684 shares of the transportation company’s stock worth $1,258,000 after purchasing an additional 10,517 shares during the period. Wellington Shields Capital Management LLC purchased a new position in shares of Air Lease Corporation during the 2nd quarter worth about $243,000. NGAM Advisors L.P. boosted its stake in shares of Air Lease Corporation by 2.4% during the 2nd quarter. NGAM Advisors L.P. now owns 18,717 shares of the transportation company’s stock worth $699,000 after purchasing an additional 447 shares during the period. Finally, State Street Corp boosted its stake in shares of Air Lease Corporation by 7.1% during the 1st quarter. State Street Corp now owns 1,329,489 shares of the transportation company’s stock worth $51,521,000 after purchasing an additional 88,278 shares during the period. 92.15% of the stock is owned by hedge funds and other institutional investors.
About Air Lease Corporation
Air Lease Corporation is an aircraft leasing company. The Company is principally engaged in purchasing new commercial jet transport aircraft directly from aircraft manufacturers, such as The Boeing Company (Boeing) and Airbus SAS. (Airbus), and leasing those aircraft to airlines across the world. Along with its leasing activities, the Company sells aircraft from its operating lease portfolio to third parties, including other leasing companies, financial services companies and airlines.
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