Air Lease Co. (AL) Expected to Post Earnings of $1.10 Per Share

Wall Street analysts predict that Air Lease Co. (NYSE:AL) will post earnings per share of $1.10 for the current quarter, Zacks reports. Two analysts have made estimates for Air Lease’s earnings. The highest EPS estimate is $1.12 and the lowest is $1.07. Air Lease reported earnings per share of $0.78 in the same quarter last year, which indicates a positive year-over-year growth rate of 41%. The company is expected to issue its next earnings report after the market closes on Thursday, May 10th.

According to Zacks, analysts expect that Air Lease will report full year earnings of $4.95 per share for the current financial year, with EPS estimates ranging from $4.76 to $5.05. For the next financial year, analysts forecast that the firm will post earnings of $5.91 per share, with EPS estimates ranging from $5.66 to $6.15. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side research firms that that provide coverage for Air Lease.

Air Lease (NYSE:AL) last issued its earnings results on Thursday, February 22nd. The transportation company reported $1.06 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.87 by $0.19. The firm had revenue of $398.47 million during the quarter, compared to the consensus estimate of $380.93 million. Air Lease had a return on equity of 10.91% and a net margin of 49.87%. The business’s quarterly revenue was up 7.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.48 earnings per share.

Several research analysts have recently issued reports on AL shares. Credit Suisse Group reaffirmed an “outperform” rating and issued a $57.00 price objective (up previously from $55.00) on shares of Air Lease in a research note on Friday, February 23rd. JPMorgan Chase upped their price objective on Air Lease from $48.00 to $54.50 and gave the company an “overweight” rating in a research note on Tuesday, March 6th. Morgan Stanley upped their price objective on Air Lease from $47.00 to $48.00 and gave the company an “equal weight” rating in a research note on Thursday, April 12th. Zacks Investment Research downgraded Air Lease from a “buy” rating to a “hold” rating in a research note on Tuesday, March 27th. Finally, Citigroup upped their price objective on Air Lease from $46.00 to $53.00 and gave the company a “buy” rating in a research note on Tuesday, February 27th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have given a buy rating to the company’s stock. Air Lease presently has a consensus rating of “Buy” and a consensus target price of $52.59.

Shares of Air Lease stock traded up $0.37 on Friday, hitting $42.27. The stock had a trading volume of 343,173 shares, compared to its average volume of 681,201. Air Lease has a twelve month low of $34.42 and a twelve month high of $50.70. The company has a debt-to-equity ratio of 2.35, a current ratio of 1.00 and a quick ratio of 1.00. The company has a market capitalization of $4,321.02, a P/E ratio of 11.48, a P/E/G ratio of 1.80 and a beta of 1.72.

The business also recently announced a quarterly dividend, which was paid on Friday, April 6th. Investors of record on Tuesday, March 20th were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.95%. The ex-dividend date of this dividend was Monday, March 19th. Air Lease’s payout ratio is presently 10.96%.

In related news, Chairman Steven F. Udvar-Hazy sold 9,150 shares of the company’s stock in a transaction that occurred on Monday, March 5th. The stock was sold at an average price of $43.25, for a total value of $395,737.50. Following the sale, the chairman now directly owns 926,962 shares in the company, valued at $40,091,106.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Kishore Korde sold 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $44.33, for a total value of $88,660.00. The disclosure for this sale can be found here. Insiders sold 79,077 shares of company stock worth $3,487,887 over the last quarter. 9.32% of the stock is currently owned by company insiders.

Hedge funds have recently made changes to their positions in the stock. Calton & Associates Inc. bought a new position in shares of Air Lease during the 4th quarter worth approximately $102,000. Whittier Trust Co. bought a new position in shares of Air Lease during the 4th quarter worth approximately $141,000. Comerica Bank bought a new position in shares of Air Lease during the 4th quarter worth approximately $213,000. Parametrica Management Ltd bought a new position in shares of Air Lease during the 4th quarter worth approximately $225,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Air Lease by 48.2% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,333 shares of the transportation company’s stock worth $256,000 after buying an additional 1,734 shares in the last quarter. Institutional investors and hedge funds own 89.55% 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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