Shares of Air Lease Corp (NYSE:AL) have received a consensus rating of “Buy” from the fifteen ratings firms that are currently covering the stock, MarketBeat reports. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $55.05.
AL has been the subject of several analyst reports. Zacks Investment Research raised shares of Air Lease from a “hold” rating to a “buy” rating and set a $42.00 price target for the company in a research report on Monday, November 26th. ValuEngine raised shares of Air Lease from a “strong sell” rating to a “sell” rating in a research report on Wednesday. Cowen reaffirmed a “buy” rating and issued a $54.00 target price on shares of Air Lease in a research report on Friday, November 30th. TheStreet cut shares of Air Lease from a “b-” rating to a “c+” rating in a research report on Wednesday, January 2nd. Finally, Seaport Global Securities initiated coverage on shares of Air Lease in a research report on Wednesday, October 10th. They issued a “buy” rating for the company.
Shares of Air Lease stock traded up $0.29 during trading on Friday, reaching $36.77. The company’s stock had a trading volume of 688,504 shares, compared to its average volume of 1,471,413. Air Lease has a 52-week low of $28.13 and a 52-week high of $50.70. The stock has a market capitalization of $3.72 billion, a price-to-earnings ratio of 10.07, a price-to-earnings-growth ratio of 0.77 and a beta of 1.92. The company has a debt-to-equity ratio of 2.48, a quick ratio of 0.80 and a current ratio of 0.80.
Air Lease (NYSE:AL) last announced its quarterly earnings results on Thursday, November 8th. The transportation company reported $1.32 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.23 by $0.09. The business had revenue of $450.70 million during the quarter, compared to analysts’ expectations of $443.01 million. Air Lease had a net margin of 51.81% and a return on equity of 11.44%. The firm’s revenue for the quarter was up 19.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.50 EPS. On average, equities research analysts forecast that Air Lease will post 4.61 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, January 9th. Stockholders of record on Thursday, December 13th were given a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 1.41%. This is a boost from Air Lease’s previous quarterly dividend of $0.10. The ex-dividend date was Wednesday, December 12th. Air Lease’s dividend payout ratio (DPR) is currently 14.25%.
In other Air Lease news, insider Steven F. Udvar-Hazy purchased 3,000 shares of the firm’s stock in a transaction that occurred on Friday, December 14th. The stock was bought at an average cost of $34.29 per share, for a total transaction of $102,870.00. Following the purchase, the insider now directly owns 947,682 shares in the company, valued at $32,496,015.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Steven F. Udvar-Hazy purchased 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 11th. The stock was acquired at an average price of $35.77 per share, with a total value of $71,540.00. Following the completion of the purchase, the insider now owns 947,682 shares in the company, valued at $33,898,585.14. The disclosure for this purchase can be found here. Company insiders own 9.32% of the company’s stock.
Several institutional investors have recently modified their holdings of AL. Schwab Charles Investment Management Inc. increased its stake in Air Lease by 10.3% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 498,537 shares of the transportation company’s stock valued at $20,924,000 after purchasing an additional 46,370 shares in the last quarter. Janus Henderson Group PLC increased its stake in Air Lease by 165.7% during the 2nd quarter. Janus Henderson Group PLC now owns 18,900 shares of the transportation company’s stock valued at $793,000 after purchasing an additional 11,787 shares in the last quarter. FMR LLC increased its stake in Air Lease by 5.4% during the 2nd quarter. FMR LLC now owns 3,490,348 shares of the transportation company’s stock valued at $146,490,000 after purchasing an additional 178,070 shares in the last quarter. Meadow Creek Investment Management LLC bought a new stake in Air Lease during the 2nd quarter valued at about $173,000. Finally, Envestnet Asset Management Inc. increased its stake in Air Lease by 224.2% during the 2nd quarter. Envestnet Asset Management Inc. now owns 3,618 shares of the transportation company’s stock valued at $153,000 after purchasing an additional 2,502 shares in the last quarter. Institutional investors own 88.19% of the company’s stock.
About Air Lease
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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