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

Air Lease (NYSE:AL) announced its earnings results on Thursday. The transportation company reported $2.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.46 by $0.74, FiscalAI reports. The business had revenue of $679.54 million during the quarter, compared to analysts’ expectations of $782.67 million. Air Lease had a net margin of 35.08% and a return on equity of 7.84%.

Air Lease Trading Down 0.0%

Shares of NYSE AL traded down $0.03 during midday trading on Thursday, hitting $64.68. The stock had a trading volume of 2,262,263 shares, compared to its average volume of 1,515,301. The firm has a market cap of $7.23 billion, a P/E ratio of 7.49, a price-to-earnings-growth ratio of 0.56 and a beta of 1.13. Air Lease has a fifty-two week low of $38.25 and a fifty-two week high of $64.74. The company has a debt-to-equity ratio of 2.42, a current ratio of 0.43 and a quick ratio of 0.43. The company’s 50-day simple moving average is $64.29 and its 200 day simple moving average is $62.79.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on AL shares. Zacks Research raised Air Lease from a “strong sell” rating to a “hold” rating in a report on Monday, January 5th. Barclays restated an “equal weight” rating and issued a $65.00 target price (down from $68.00) on shares of Air Lease in a research note on Tuesday, January 6th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Air Lease in a research report on Wednesday, January 21st. Three 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. According to data from MarketBeat, Air Lease has an average rating of “Hold” and an average price target of $59.17.

Insider Activity at Air Lease

In related news, CEO John L. Plueger sold 155,821 shares of the business’s stock in a transaction that occurred 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 sale, the chief executive officer directly owned 725,941 shares of the company’s stock, valued at $46,482,002.23. The trade was a 17.67% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Kishore Korde sold 30,160 shares of the firm’s stock in a transaction that occurred on Tuesday, November 25th. The shares were sold at an average price of $63.90, for a total transaction of $1,927,224.00. Following the completion of the transaction, the executive vice president directly owned 79,263 shares in the company, valued at approximately $5,064,905.70. The trade was a 27.56% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 692,185 shares of company stock worth $44,301,155 over the last 90 days. Insiders own 6.64% of the company’s stock.

Institutional Trading of Air Lease

Several hedge funds have recently added to or reduced their stakes in AL. Los Angeles Capital Management LLC acquired a new stake in shares of Air Lease during the fourth quarter worth about $32,000. IFP Advisors Inc bought a new stake in Air Lease during the 3rd quarter worth approximately $38,000. Geneos Wealth Management Inc. raised its holdings in Air Lease by 264.1% during the 1st quarter. Geneos Wealth Management Inc. now owns 892 shares of the transportation company’s stock worth $43,000 after buying an additional 647 shares during the period. PenderFund Capital Management Ltd. bought a new position in Air Lease in the third quarter valued at approximately $59,000. Finally, Monetary Management Group Inc. acquired a new position in shares of Air Lease in the second quarter valued at approximately $70,000. Institutional investors and hedge funds own 94.59% of the company’s stock.

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.