Air Lease Corp (NYSE:AL) announced a quarterly dividend on Friday, February 23rd, Wall Street Journal reports. Investors of record on Tuesday, March 20th will be given a dividend of 0.10 per share by the transportation company on Friday, April 6th. This represents a $0.40 dividend on an annualized basis and a yield of 0.87%. The ex-dividend date is Monday, March 19th.
Air Lease has increased its dividend payment by an average of 35.7% per year over the last three years and has raised its dividend annually for the last 4 consecutive years. Air Lease has a payout ratio of 11.6% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Air Lease to earn $4.50 per share next year, which means the company should continue to be able to cover its $0.40 annual dividend with an expected future payout ratio of 8.9%.
Air Lease (AL) traded up $0.46 during trading on Friday, reaching $46.17. 1,677,067 shares of the company were exchanged, compared to its average volume of 697,202. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 2.53. The company has a market cap of $4,810.00, a price-to-earnings ratio of 13.36, a PEG ratio of 0.71 and a beta of 1.70. Air Lease has a twelve month low of $34.42 and a twelve month high of $50.70.
Air Lease (NYSE:AL) last posted its earnings results on Thursday, February 22nd. The transportation company reported $1.06 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.87 by $0.19. The business had revenue of $398.47 million for the quarter, compared to analyst estimates of $380.93 million. Air Lease had a net margin of 25.67% and a return on equity of 10.87%. Air Lease’s revenue was up 7.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.48 EPS. research analysts anticipate that Air Lease will post 3.44 earnings per share for the current year.
A number of analysts recently weighed in on AL shares. Zacks Investment Research lowered shares of Air Lease from a “hold” rating to a “sell” rating in a report on Thursday, November 9th. Citigroup started coverage on shares of Air Lease in a report on Friday, December 8th. They set a “neutral” rating and a $46.00 target price on the stock. Royal Bank of Canada reaffirmed a “buy” rating and set a $80.00 target price on shares of Air Lease in a report on Thursday, November 2nd. UBS Group upped their target price on shares of Air Lease from $30.00 to $31.00 and gave the stock a “sell” rating in a report on Friday, November 10th. Finally, Credit Suisse Group upped their target price on shares of Air Lease from $44.00 to $46.00 and gave the stock an “outperform” rating in a report on Friday, November 10th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the company. Air Lease currently has a consensus rating of “Hold” and a consensus price target of $50.60.
In other news, EVP Jie Chen sold 2,000 shares of the stock in a transaction on Friday, December 1st. The shares were sold at an average price of $43.30, for a total value of $86,600.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Grant A. Levy sold 10,000 shares of the company’s stock in a transaction on Friday, December 8th. The shares were sold at an average price of $43.88, for a total transaction of $438,800.00. Following the completion of the sale, the executive vice president now directly owns 163,824 shares of the company’s stock, valued at approximately $7,188,597.12. The disclosure for this sale can be found here. Insiders sold a total of 81,000 shares of company stock worth $3,661,430 in the last three months. Insiders own 9.76% of the company’s stock.
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About Air Lease
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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