Analysts Anticipate Air Lease Corp (AL) to Announce $1.35 EPS

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Brokerages expect Air Lease Corp (NYSE:AL) to post earnings per share (EPS) of $1.35 for the current fiscal quarter, Zacks Investment Research reports. Three analysts have issued estimates for Air Lease’s earnings. Air Lease reported earnings per share of $1.06 during the same quarter last year, which indicates a positive year over year growth rate of 27.4%. The firm is scheduled to announce its next earnings results on Thursday, February 28th.

On average, analysts expect that Air Lease will report full-year earnings of $5.37 per share for the current fiscal year, with EPS estimates ranging from $4.82 to $5.91. For the next fiscal year, analysts anticipate that the firm will post earnings of $5.97 per share, with EPS estimates ranging from $5.78 to $6.15. Zacks Investment Research’s EPS calculations are an average based on a survey of research analysts that follow Air Lease.

Air Lease (NYSE:AL) last issued its quarterly earnings data on Thursday, November 8th. The transportation company reported $1.32 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.23 by $0.09. The firm had revenue of $450.70 million during the quarter, compared to analysts’ expectations of $443.01 million. Air Lease had a net margin of 51.81% and a return on equity of 11.44%. The business’s revenue for the quarter was up 19.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.50 earnings per share.

A number of research analysts recently issued reports on AL shares. Royal Bank of Canada boosted their price objective on shares of Air Lease from $91.00 to $93.00 and gave the company a “top pick” rating in a report on Friday, August 10th. Compass Point restated a “buy” rating and set a $58.00 price objective on shares of Air Lease in a report on Sunday, August 12th. ValuEngine upgraded shares of Air Lease from a “sell” rating to a “hold” rating in a report on Monday, August 13th. Citigroup boosted their price objective on shares of Air Lease from $49.00 to $50.00 and gave the company a “neutral” rating in a report on Wednesday, August 15th. Finally, Bank of America restated a “buy” rating and set a $57.00 price objective on shares of Air Lease in a report on Thursday, August 16th. Two equities 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 issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $54.45.

Shares of NYSE AL opened at $36.32 on Wednesday. The company has a market cap of $3.86 billion, a P/E ratio of 9.95, a PEG ratio of 0.95 and a beta of 1.83. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 2.48. Air Lease has a 52-week low of $35.97 and a 52-week high of $50.70.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 9th. Shareholders of record on Thursday, December 13th will be paid a $0.13 dividend. The ex-dividend date is Wednesday, December 12th. This represents a $0.52 dividend on an annualized basis and a yield of 1.43%. This is a positive change from Air Lease’s previous quarterly dividend of $0.10. Air Lease’s payout ratio is presently 10.96%.

In other Air Lease news, EVP Grant A. Levy sold 15,000 shares of Air Lease 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 $6,922,896.87. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 9.32% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Boston Partners lifted its position in shares of Air Lease by 2.0% in the second quarter. Boston Partners now owns 8,730,004 shares of the transportation company’s stock worth $366,398,000 after purchasing an additional 174,888 shares in the last quarter. FMR LLC lifted its position in shares of Air Lease by 5.4% in the second quarter. FMR LLC now owns 3,490,348 shares of the transportation company’s stock worth $146,490,000 after purchasing an additional 178,070 shares in the last quarter. Royce & Associates LP lifted its position in shares of Air Lease by 6.4% in the third quarter. Royce & Associates LP now owns 2,566,314 shares of the transportation company’s stock worth $117,742,000 after purchasing an additional 155,106 shares in the last quarter. Cannell Peter B & Co. Inc. lifted its position in shares of Air Lease by 8.5% in the third quarter. Cannell Peter B & Co. Inc. now owns 1,557,474 shares of the transportation company’s stock worth $71,457,000 after purchasing an additional 121,783 shares in the last quarter. Finally, Strs Ohio lifted its position in shares of Air Lease by 0.8% in the second quarter. Strs Ohio now owns 1,351,280 shares of the transportation company’s stock worth $56,713,000 after purchasing an additional 11,280 shares in the last quarter. 88.20% of the stock is currently 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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