Air Lease Corp. (NYSE:AL) has been assigned a consensus rating of “Buy” from the ten analysts that are currently covering the stock. Two equities research analysts have rated the stock with a hold recommendation, seven have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among brokers that have covered the stock in the last year is $46.25.
Several research firms recently commented on AL. FBR & Co reaffirmed a “buy” rating and set a $35.00 price objective on shares of Air Lease Corp. in a research report on Monday, September 19th. Zacks Investment Research cut Air Lease Corp. from a “buy” rating to a “hold” rating in a research report on Wednesday, August 10th. Finally, TheStreet cut Air Lease Corp. from a “buy” rating to a “hold” rating in a research report on Monday, June 13th.
Shares of Air Lease Corp. (NYSE:AL) traded up 0.77% on Thursday, hitting $28.78. The stock had a trading volume of 168,405 shares. The firm has a 50-day moving average price of $28.49 and a 200-day moving average price of $29.20. The stock has a market capitalization of $2.96 billion, a P/E ratio of 9.14 and a beta of 1.59. Air Lease Corp. has a 52 week low of $22.47 and a 52 week high of $35.22.
Air Lease Corp. (NYSE:AL) last released its quarterly earnings data on Thursday, August 4th. The company reported $0.84 EPS for the quarter, beating the consensus estimate of $0.82 by $0.02. Air Lease Corp. had a return on equity of 14.72% and a net margin of 25.70%. The company had revenue of $350.10 million for the quarter, compared to analysts’ expectations of $349.19 million. During the same period last year, the firm posted $0.70 earnings per share. Air Lease Corp.’s revenue was up 14.9% compared to the same quarter last year. Equities analysts expect that Air Lease Corp. will post $3.39 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 6th. Stockholders of record on Monday, September 12th will be paid a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.70%. The ex-dividend date of this dividend is Thursday, September 8th. Air Lease Corp.’s dividend payout ratio (DPR) is currently 6.37%.
Several hedge funds and other institutional investors have recently bought and sold shares of AL. Williams Jones & Associates LLC bought a new position in Air Lease Corp. during the second quarter valued at approximately $19,370,000. Nomura Holdings Inc. acquired a new stake in shares of Air Lease Corp. during the second quarter valued at about $398,000. Aldebaran Financial Inc. increased its stake in shares of Air Lease Corp. by 54.8% in the second quarter. Aldebaran Financial Inc. now owns 63,881 shares of the company’s stock valued at $1,737,000 after buying an additional 22,602 shares during the period. CI Investments Inc. increased its stake in shares of Air Lease Corp. by 10.1% in the second quarter. CI Investments Inc. now owns 446,200 shares of the company’s stock valued at $11,949,000 after buying an additional 41,000 shares during the period. Finally, Royal Bank of Canada increased its stake in shares of Air Lease Corp. by 15.4% in the second quarter. Royal Bank of Canada now owns 1,400,715 shares of the company’s stock valued at $37,510,000 after buying an additional 186,687 shares during the period. 91.53% of the stock is currently owned by hedge funds and other institutional investors.
About Air Lease Corp.
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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