Zacks: Brokerages Expect Air Lease Corp (AL) Will Post Quarterly Sales of $442.34 Million

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Analysts forecast that Air Lease Corp (NYSE:AL) will announce $442.34 million in sales for the current quarter, according to Zacks. Three analysts have issued estimates for Air Lease’s earnings, with estimates ranging from $423.37 million to $453.00 million. Air Lease reported sales of $376.77 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 17.4%. The company is scheduled to report its next earnings report after the market closes on Thursday, November 8th.

On average, analysts expect that Air Lease will report full year sales of $1.67 billion for the current financial year, with estimates ranging from $1.62 billion to $1.70 billion. For the next year, analysts expect that the business will post sales of $2.15 billion, with estimates ranging from $2.07 billion to $2.21 billion. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Air Lease.

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

Several analysts have weighed in on AL shares. Compass Point reissued a “buy” rating and set a $58.00 price objective on shares of Air Lease in a report on Sunday, August 12th. Bank of America reaffirmed a “buy” rating and issued a $57.00 price target on shares of Air Lease in a research note on Thursday, August 16th. Seaport Global Securities assumed coverage on Air Lease in a research note on Wednesday, October 10th. They set a “buy” rating for the company. ValuEngine raised Air Lease from a “sell” rating to a “hold” rating in a research note on Monday, August 13th. Finally, Citigroup increased their target price on Air Lease from $49.00 to $50.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 15th. Two research analysts have rated the stock with a sell rating, three have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. Air Lease currently has a consensus rating of “Buy” and an average target price of $55.85.

Shares of NYSE AL opened at $41.69 on Friday. The stock has a market cap of $4.42 billion, a P/E ratio of 11.43, a P/E/G ratio of 1.12 and a beta of 1.78. The company has a debt-to-equity ratio of 2.53, a quick ratio of 0.85 and a current ratio of 0.85. Air Lease has a 12-month low of $40.26 and a 12-month high of $50.70.

The company also recently declared a quarterly dividend, which was paid on Friday, October 5th. Shareholders of record on Friday, September 14th were given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.96%. The ex-dividend date of this dividend was Thursday, September 13th. Air Lease’s dividend payout ratio (DPR) is currently 10.96%.

In other Air Lease news, EVP John D. Poerschke sold 6,000 shares of the company’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 of the company’s stock, valued at approximately $2,415,350. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Grant A. Levy sold 15,000 shares of the company’s stock in a transaction that occurred on Thursday, September 13th. The stock was sold at an average price of $45.13, for a total value of $676,950.00. Following the transaction, the executive vice president now directly 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. In the last ninety days, insiders have sold 31,000 shares of company stock valued at $1,420,550. Insiders own 9.32% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in AL. BlackRock Inc. boosted its position in Air Lease by 1.4% during the 1st quarter. BlackRock Inc. now owns 4,024,171 shares of the transportation company’s stock worth $171,509,000 after acquiring an additional 54,450 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Air Lease by 1,839.9% in the 1st quarter. JPMorgan Chase & Co. now owns 30,224 shares of the transportation company’s stock valued at $1,287,000 after buying an additional 28,666 shares during the last quarter. GSA Capital Partners LLP acquired a new stake in shares of Air Lease in the 1st quarter valued at approximately $563,000. Natixis acquired a new stake in shares of Air Lease in the 1st quarter valued at approximately $735,000. Finally, Cubist Systematic Strategies LLC acquired a new stake in shares of Air Lease in the 1st quarter valued at approximately $379,000. 86.41% of the stock is owned by hedge funds and other institutional investors.

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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Earnings History and Estimates for Air Lease (NYSE:AL)

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