According to Zacks, “Air Lease Corporation is an aircraft leasing company principally engaged in purchasing commercial aircraft and leasing to airlines around the world. The Company provides leasing services in Asia, the Pacific Rim, Latin America, the Middle East and Eastern Europe. Air Lease Corporation is based in Los Angeles, California. “
A number of other analysts have also issued reports on AL. FBR & Co restated a buy rating and issued a $35.00 target price on shares of Air Lease Corp. in a report on Monday, September 19th. TheStreet lowered Air Lease Corp. from a buy rating to a hold rating in a report on Monday, June 13th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of Buy and a consensus target price of $44.44.
Air Lease Corp. (NYSE:AL) opened at 28.33 on Monday. The firm’s 50 day moving average price is $28.65 and its 200-day moving average price is $29.12. The firm has a market cap of $2.91 billion, a PE ratio of 9.00 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 announced its quarterly earnings data on Thursday, August 4th. The company reported $0.84 EPS for the quarter, beating analysts’ consensus estimates 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 earned $350.10 million during the quarter, compared to the consensus estimate of $349.19 million. During the same quarter in the prior year, the firm earned $0.70 EPS. The company’s quarterly revenue was up 14.9% compared to the same quarter last year. On average, analysts forecast that Air Lease Corp. will post $3.39 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, October 6th. Shareholders of record on Monday, September 12th were given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.71%. The ex-dividend date of this dividend was Thursday, September 8th. Air Lease Corp.’s payout ratio is 6.37%.
A number of institutional investors have recently bought and sold shares of AL. Anchor Bolt Capital LP acquired a new position in Air Lease Corp. during the first quarter valued at approximately $1,215,000. Jacobs Levy Equity Management Inc. increased its position in Air Lease Corp. by 249.3% in the first quarter. Jacobs Levy Equity Management Inc. now owns 39,540 shares of the company’s stock valued at $1,270,000 after buying an additional 28,220 shares during the last quarter. AMP Capital Investors Ltd acquired a new position in Air Lease Corp. during the first quarter valued at approximately $3,239,000. Geode Capital Management LLC increased its position in Air Lease Corp. by 3.2% in the first quarter. Geode Capital Management LLC now owns 581,848 shares of the company’s stock valued at $18,688,000 after buying an additional 17,844 shares during the last quarter. Finally, Baker Avenue Asset Management LP acquired a new position in Air Lease Corp. during the first quarter valued at approximately $389,000. 91.53% of the stock is currently owned by hedge funds and other institutional investors.
Air Lease Corp. Company Profile
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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