Air Lease Corp. (AL) Cut to Sell at Zacks Investment Research
Air Lease Corp. (NYSE:AL) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Monday.
According to Zacks, “Air Lease Corporation is an aircraft leasing company principally engaged in purchasing commercial aircraft and leasing to airlines around the world. The Company provides leasing services in Asia, the Pacific Rim, Latin America, the Middle East and Eastern Europe. Air Lease Corporation is based in Los Angeles, California. “
Several other equities research analysts also recently issued reports on the company. FBR & Co restated a “buy” rating and issued a $35.00 price target on shares of Air Lease Corp. in a report on Monday, September 19th. TheStreet downgraded Air Lease Corp. from a “buy” rating to a “hold” rating in a report on Monday, June 13th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $44.44.
Shares of Air Lease Corp. (NYSE:AL) traded up 1.63% on Monday, hitting $29.98. The company had a trading volume of 761,236 shares. Air Lease Corp. has a 12-month low of $22.47 and a 12-month high of $35.22. The firm has a market capitalization of $3.08 billion, a P/E ratio of 9.52 and a beta of 1.59. The firm has a 50 day moving average of $28.56 and a 200-day moving average of $29.17.
Air Lease Corp. (NYSE:AL) last released its quarterly earnings data on Thursday, August 4th. The company reported $0.84 EPS for the quarter, beating analysts’ consensus estimates of $0.82 by $0.02. The business earned $350.10 million during the quarter, compared to the consensus estimate of $349.19 million. Air Lease Corp. had a return on equity of 14.72% and a net margin of 25.70%. The firm’s revenue was up 14.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.70 earnings per share. On average, equities analysts predict that Air Lease Corp. will post $3.39 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 6th. Stockholders of record on Monday, September 12th were given a dividend of $0.05 per share. The ex-dividend date of this dividend was Thursday, September 8th. This represents a $0.20 annualized dividend and a dividend yield of 0.67%. Air Lease Corp.’s dividend payout ratio is currently 6.37%.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Monetary Management Group Inc. boosted its position in Air Lease Corp. by 17.9% in the first quarter. Monetary Management Group Inc. now owns 3,300 shares of the company’s stock valued at $106,000 after buying an additional 500 shares in the last quarter. LS Investment Advisors LLC bought a new position in shares of Air Lease Corp. during the second quarter valued at approximately $102,000. Tower Research Capital LLC TRC boosted 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 valued at $112,000 after buying an additional 3,702 shares during the period. Metropolitan Life Insurance Co. NY boosted 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 valued at $135,000 after buying an additional 1,786 shares during the period. Finally, BlueMountain Capital Management LLC boosted its position in shares of Air Lease Corp. by 168.1% in the second quarter. BlueMountain Capital Management LLC now owns 5,134 shares of the company’s stock valued at $137,000 after buying an additional 3,219 shares during the period. 91.53% of the stock is owned by 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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