Wall Street analysts expect Air Lease Corp (NYSE:AL) to report $443.07 million in sales for the current quarter, according to Zacks. Two analysts have made estimates for Air Lease’s earnings, with the lowest sales estimate coming in at $435.49 million and the highest estimate coming in at $450.65 million. Air Lease posted sales of $376.77 million in the same quarter last year, which would indicate a positive year over year growth rate of 17.6%. The business is expected to announce its next earnings report on Thursday, November 8th.
According to Zacks, analysts expect that Air Lease will report full year sales of $1.67 billion for the current fiscal year, with estimates ranging from $1.63 billion to $1.70 billion. For the next year, analysts anticipate that the firm will report sales of $2.14 billion per share, with estimates ranging from $2.08 billion to $2.20 billion. Zacks’ sales averages are a mean average based on a survey of research firms that that provide coverage for Air Lease.
Air Lease (NYSE:AL) last posted its earnings results on Thursday, August 9th. The transportation company reported $1.04 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.04. The firm had revenue of $397.80 million during the quarter, compared to analyst estimates of $400.11 million. Air Lease had a net margin of 51.22% and a return on equity of 10.85%. Air Lease’s revenue was up 4.4% on a year-over-year basis. During the same period in the previous year, the business posted $1.51 EPS.
A number of research analysts have issued reports on AL shares. Bank of America reissued a “buy” rating and set a $57.00 target price on shares of Air Lease in a research note on Thursday, August 16th. ValuEngine raised shares of Air Lease from a “hold” rating to a “buy” rating in a research note on Tuesday, May 8th. Compass Point reissued a “buy” rating and set a $58.00 target price on shares of Air Lease in a research note on Sunday, August 12th. Citigroup boosted their target price on shares of Air Lease from $49.00 to $50.00 and gave the company a “neutral” rating in a research note on Wednesday, August 15th. Finally, Zacks Investment Research lowered shares of Air Lease from a “hold” rating to a “sell” rating in a research note on Monday, August 6th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $55.85.
In other news, EVP Grant A. Levy sold 27,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 12th. The shares were sold at an average price of $45.05, for a total value of $1,216,350.00. Following the completion of the sale, the executive vice president now directly owns 195,399 shares of the company’s stock, valued at approximately $8,802,724.95. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP John D. Poerschke sold 12,144 shares of the company’s stock in a transaction that occurred on Monday, June 4th. The stock was sold at an average price of $44.98, for a total transaction of $546,237.12. Following the completion of the sale, the executive vice president now directly owns 43,500 shares of the company’s stock, valued at $1,956,630. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 60,144 shares of company stock valued at $2,733,787. Company insiders own 9.32% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Hahn Capital Management LLC bought a new stake in shares of Air Lease in the 2nd quarter worth approximately $8,370,000. Jane Street Group LLC bought a new stake in shares of Air Lease in the 2nd quarter worth approximately $618,000. Advisors Asset Management Inc. raised its holdings in shares of Air Lease by 1,105.1% in the 2nd quarter. Advisors Asset Management Inc. now owns 37,552 shares of the transportation company’s stock worth $100,000 after purchasing an additional 34,436 shares in the last quarter. California Public Employees Retirement System raised its holdings in shares of Air Lease by 19.4% in the 2nd quarter. California Public Employees Retirement System now owns 275,540 shares of the transportation company’s stock worth $11,564,000 after purchasing an additional 44,713 shares in the last quarter. Finally, Millennium Management LLC raised its holdings in shares of Air Lease by 206.0% in the 2nd quarter. Millennium Management LLC now owns 669,641 shares of the transportation company’s stock worth $28,105,000 after purchasing an additional 450,809 shares in the last quarter. Institutional investors and hedge funds own 86.65% of the company’s stock.
Air Lease stock opened at $46.85 on Thursday. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 2.53. The stock has a market cap of $4.79 billion, a price-to-earnings ratio of 12.83, a PEG ratio of 1.21 and a beta of 1.80. Air Lease has a 52-week low of $38.46 and a 52-week high of $50.70.
The business also recently declared a quarterly dividend, which will be paid on Friday, October 5th. Stockholders of record on Friday, September 14th will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.85%. The ex-dividend date of this dividend is Thursday, September 13th. Air Lease’s dividend payout ratio is currently 10.96%.
Air Lease Company Profile
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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