Brokerages Anticipate Air Lease Corp (AL) Will Post Quarterly Sales of $437.01 Million

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Equities research analysts expect Air Lease Corp (NYSE:AL) to post $437.01 million in sales for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for Air Lease’s earnings. The highest sales estimate is $450.65 million and the lowest is $423.37 million. Air Lease reported sales of $376.77 million in the same quarter last year, which indicates a positive year over year growth rate of 16%. The company is scheduled to announce its next earnings results on Thursday, November 8th.

According to Zacks, analysts expect that Air Lease will report full year sales of $1.66 billion for the current financial year, with estimates ranging from $1.63 billion to $1.70 billion. For the next fiscal year, analysts expect that the business will report sales of $2.16 billion per share, with estimates ranging from $2.08 billion to $2.21 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that cover Air Lease.

Air Lease (NYSE:AL) last issued its earnings results on Thursday, August 9th. The transportation company reported $1.04 EPS for the quarter, hitting the consensus estimate of $1.04. The company had revenue of $397.80 million during the quarter, compared to analyst estimates of $400.11 million. Air Lease had a return on equity of 10.85% and a net margin of 51.22%. The business’s revenue was up 4.4% on a year-over-year basis. During the same quarter last year, the firm earned $1.51 EPS.

AL has been the subject of several research reports. Compass Point reiterated a “buy” rating and issued a $58.00 target price on shares of Air Lease in a research report on Sunday, August 12th. ValuEngine lowered Air Lease from a “buy” rating to a “hold” rating in a research report on Wednesday, May 23rd. Royal Bank of Canada lifted their target price on Air Lease from $91.00 to $93.00 and gave the stock a “top pick” rating in a research report on Friday, August 10th. Bank of America reiterated a “buy” rating and issued a $57.00 target price on shares of Air Lease in a research report on Thursday, August 16th. Finally, Citigroup lifted their target price on Air Lease from $49.00 to $50.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 15th. Three equities research analysts have rated the stock with a sell rating, two have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. Air Lease currently has a consensus rating of “Hold” and a consensus target price of $55.85.

In related news, EVP John D. Poerschke sold 6,000 shares of the business’s stock in a transaction that occurred on Monday, August 27th. The stock was sold at an average price of $46.90, for a total transaction of $281,400.00. Following the completion of the transaction, the executive vice president now owns 51,500 shares in the company, valued at approximately $2,415,350. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Grant A. Levy sold 15,000 shares of the business’s stock in a transaction that occurred on Thursday, September 13th. The shares were sold at an average price of $45.13, for a total value of $676,950.00. Following the transaction, the executive vice president now owns 153,399 shares of the company’s stock, valued at approximately $6,922,896.87. The disclosure for this sale can be found here. Insiders have sold a total of 31,000 shares of company stock valued at $1,420,550 in the last 90 days. Insiders own 9.32% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in AL. Cannell Peter B & Co. Inc. boosted its position in Air Lease by 122.4% during the 2nd quarter. Cannell Peter B & Co. Inc. now owns 1,435,691 shares of the transportation company’s stock worth $60,256,000 after acquiring an additional 790,105 shares during the period. Royce & Associates LP boosted its position in Air Lease by 39.4% during the 2nd quarter. Royce & Associates LP now owns 2,411,208 shares of the transportation company’s stock worth $101,198,000 after acquiring an additional 681,987 shares during the period. Millennium Management LLC boosted its position in Air Lease by 206.0% during the 2nd quarter. Millennium Management LLC now owns 669,641 shares of the transportation company’s stock worth $28,105,000 after acquiring an additional 450,809 shares during the period. EJF Capital LLC acquired a new position in Air Lease during the 1st quarter worth $16,409,000. Finally, Earnest Partners LLC boosted its position in Air Lease by 3,517,770.0% during the 2nd quarter. Earnest Partners LLC now owns 351,787 shares of the transportation company’s stock worth $14,765,000 after acquiring an additional 351,777 shares during the period. Institutional investors and hedge funds own 86.62% of the company’s stock.

Shares of AL traded up $0.55 during mid-day trading on Friday, hitting $45.68. The stock had a trading volume of 392,730 shares, compared to its average volume of 615,146. The firm has a market cap of $4.68 billion, a price-to-earnings ratio of 11.24, a PEG ratio of 1.18 and a beta of 1.79. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 2.53. Air Lease has a fifty-two week low of $39.57 and a fifty-two week high of $50.70.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 5th. Investors of record on Friday, September 14th will be given a dividend of $0.10 per share. The ex-dividend date is Thursday, September 13th. This represents a $0.40 dividend on an annualized basis and a yield of 0.88%. 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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