Air Lease (NYSE:AL) Posts Quarterly Earnings Results, Beats Estimates By $0.74 EPS

Air Lease (NYSE:AL) released its quarterly earnings data on Thursday. The transportation company reported $2.20 EPS for the quarter, topping the consensus estimate of $1.46 by $0.74, FiscalAI reports. Air Lease had a net margin of 35.72% and a return on equity of 8.63%. The business had revenue of $679.54 million for the quarter, compared to analyst estimates of $782.67 million. During the same period in the previous year, the firm earned $0.83 EPS. The business’s revenue for the quarter was up 15.1% compared to the same quarter last year.

Air Lease Trading Up 0.1%

Air Lease stock traded up $0.08 during midday trading on Friday, reaching $64.74. The stock had a trading volume of 1,773,604 shares, compared to its average volume of 1,456,827. The stock’s 50-day simple moving average is $64.32 and its 200 day simple moving average is $62.85. Air Lease has a twelve month low of $38.25 and a twelve month high of $64.76. The company has a debt-to-equity ratio of 2.42, a quick ratio of 0.43 and a current ratio of 0.43. The stock has a market capitalization of $7.24 billion, a PE ratio of 6.95, a price-to-earnings-growth ratio of 0.56 and a beta of 1.13.

Air Lease Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 7th. Investors of record on Monday, March 2nd will be issued a $0.22 dividend. The ex-dividend date is Monday, March 2nd. This represents a $0.88 dividend on an annualized basis and a yield of 1.4%. Air Lease’s dividend payout ratio (DPR) is presently 9.45%.

Insider Activity

In other news, Director Steven F. Udvar-Hazy sold 64,000 shares of the stock in a transaction on Friday, December 12th. The shares were sold at an average price of $64.02, for a total value of $4,097,280.00. Following the completion of the sale, the director owned 74,000 shares of the company’s stock, valued at $4,737,480. This represents a 46.38% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO John L. Plueger sold 155,821 shares of the firm’s stock in a transaction on Tuesday, December 9th. The shares were sold at an average price of $64.03, for a total transaction of $9,977,218.63. Following the completion of the transaction, the chief executive officer directly owned 725,941 shares in the company, valued at approximately $46,482,002.23. This represents a 17.67% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 692,185 shares of company stock valued at $44,301,155 in the last three months. Corporate insiders own 6.64% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in AL. Westchester Capital Management LLC increased its stake in shares of Air Lease by 117.6% in the fourth quarter. Westchester Capital Management LLC now owns 334,421 shares of the transportation company’s stock worth $21,480,000 after buying an additional 180,721 shares during the period. Marshall Wace LLP grew its stake in shares of Air Lease by 21.4% in the fourth quarter. Marshall Wace LLP now owns 255,140 shares of the transportation company’s stock worth $16,388,000 after purchasing an additional 44,913 shares during the last quarter. Absolute Gestao de Investimentos Ltda. purchased a new position in Air Lease during the 4th quarter valued at about $28,651,000. Soros Fund Management LLC lifted its holdings in Air Lease by 879.3% in the 4th quarter. Soros Fund Management LLC now owns 1,109,293 shares of the transportation company’s stock worth $71,250,000 after buying an additional 996,015 shares during the period. Finally, Bridgewater Associates LP grew its position in shares of Air Lease by 210.6% in the 4th quarter. Bridgewater Associates LP now owns 10,412 shares of the transportation company’s stock worth $669,000 after buying an additional 7,060 shares during the last quarter. 94.59% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on AL shares. Weiss Ratings reiterated a “buy (b)” rating on shares of Air Lease in a report on Wednesday, January 21st. Zacks Research raised Air Lease from a “strong sell” rating to a “hold” rating in a research note on Monday, January 5th. Finally, Barclays reissued an “equal weight” rating and issued a $65.00 target price (down previously from $68.00) on shares of Air Lease in a research note on Tuesday, January 6th. Three investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $59.17.

Air Lease Company Profile

Air Lease Corporation (NYSE: AL) is a leading aircraft leasing company that acquires commercial jet aircraft and leases them to airlines worldwide. The firm’s core business activities include direct aircraft acquisition, lease management and portfolio remarketing. By structuring sale‐and‐leaseback transactions, operating leases and secured loans, Air Lease provides flexible financing solutions that enable carriers to modernize their fleets without committing large amounts of capital to ownership.

Founded in 2010 and headquartered in Los Angeles, Air Lease Corporation serves a diverse customer base spanning North America, Europe, Asia, Latin America and the Middle East.