Air Lease Corp. (NYSE:AL) Given Consensus Rating of “Buy” by Analysts
Air Lease Corp. (NYSE:AL) has received an average recommendation of “Buy” from the ten brokerages that are presently covering the stock. Two analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $46.25.
AL has been the subject of several research analyst reports. TheStreet lowered shares of Air Lease Corp. from a “buy” rating to a “hold” rating in a research note on Monday, June 13th. FBR & Co reiterated an “outperform” rating and issued a $40.00 price objective on shares of Air Lease Corp. in a research note on Tuesday, June 21st. Finally, Zacks Investment Research raised shares of Air Lease Corp. from a “hold” rating to a “buy” rating and set a $30.00 price target for the company in a research report on Wednesday, June 29th.
Shares of Air Lease Corp. (NYSE:AL) traded up 0.77% during trading on Thursday, hitting $28.78. 168,405 shares of the stock traded hands. The stock has a market cap of $2.96 billion, a price-to-earnings ratio of 9.14 and a beta of 1.59. Air Lease Corp. has a 1-year low of $22.47 and a 1-year high of $35.22. The stock has a 50 day moving average price of $28.49 and a 200-day moving average price of $29.20.
Air Lease Corp. (NYSE:AL) last released its quarterly earnings data on Thursday, August 4th. The company reported $0.84 earnings per share for the quarter, beating the consensus estimate of $0.82 by $0.02. The company earned $350.10 million during the quarter, compared to analyst estimates of $349.19 million. Air Lease Corp. had a net margin of 25.70% and a return on equity of 14.72%. Air Lease Corp.’s revenue for the quarter was up 14.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.70 EPS. Equities analysts forecast that Air Lease Corp. will post $3.39 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 6th. Shareholders of record on Monday, September 12th will be issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.70%. The ex-dividend date of this dividend is Thursday, September 8th. Air Lease Corp.’s dividend payout ratio is 6.37%.
A number of institutional investors have recently bought and sold shares of the company. LS Investment Advisors LLC bought a new position in shares of Air Lease Corp. during the second quarter worth $102,000. Monetary Management Group Inc. increased its position in shares of Air Lease Corp. by 17.9% in the first quarter. Monetary Management Group Inc. now owns 3,300 shares of the company’s stock worth $106,000 after buying an additional 500 shares during the period. Tower Research Capital LLC TRC increased its position in shares of Air Lease Corp. by 761.7% in the second quarter. Tower Research Capital LLC TRC now owns 4,188 shares of the company’s stock worth $112,000 after buying an additional 3,702 shares during the period. Metropolitan Life Insurance Co. NY increased its position in shares of Air Lease Corp. by 55.1% in the second quarter. Metropolitan Life Insurance Co. NY now owns 5,025 shares of the company’s stock worth $135,000 after buying an additional 1,786 shares during the period. Finally, Glenmede Trust Co. NA bought a new position in shares of Air Lease Corp. during the second quarter worth $137,000. 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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