Air Lease Corp. (AL) Given Average Rating of “Buy” by Analysts
Shares of Air Lease Corp. (NYSE:AL) have been assigned a consensus rating of “Buy” from the ten research firms that are presently covering the company. One research analyst has rated the stock with a sell recommendation, one has given a hold recommendation, seven have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $47.58.
A number of research analysts have recently commented on AL shares. Stephens started coverage on shares of Air Lease Corp. in a report on Tuesday, November 1st. They issued an “overweight” rating and a $48.00 price target on the stock. 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. Finally, Zacks Investment Research cut shares of Air Lease Corp. from a “hold” rating to a “sell” rating in a report on Monday, October 10th.
Air Lease Corp. (NYSE:AL) opened at 34.75 on Thursday. The firm has a 50-day moving average of $29.73 and a 200 day moving average of $28.97. Air Lease Corp. has a one year low of $22.47 and a one year high of $34.80. The stock has a market capitalization of $3.57 billion, a PE ratio of 10.55 and a beta of 1.54.
Air Lease Corp. (NYSE:AL) last posted its quarterly earnings results on Thursday, November 3rd. The company reported $0.86 EPS for the quarter, topping the Zacks’ consensus estimate of $0.82 by $0.04. The firm had revenue of $355.10 million for the quarter, compared to analysts’ expectations of $356.47 million. Air Lease Corp. had a net margin of 26.09% and a return on equity of 14.83%. The business’s revenue for the quarter was up 13.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.71 earnings per share. On average, equities research analysts anticipate that Air Lease Corp. will post $3.42 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, January 9th. Shareholders of record on Monday, December 12th will be given a dividend of $0.075 per share. The ex-dividend date is Thursday, December 8th. This is a positive change from Air Lease Corp.’s previous quarterly dividend of $0.05. This represents a $0.30 dividend on an annualized basis and a yield of 0.86%. Air Lease Corp.’s dividend payout ratio (DPR) is currently 6.08%.
In other Air Lease Corp. news, Director Robert A. Milton sold 30,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 8th. The shares were sold at an average price of $31.73, for a total transaction of $951,900.00. Following the completion of the transaction, the director now directly owns 30,889 shares of the company’s stock, valued at approximately $980,107.97. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 9.45% of the company’s stock.
Large investors have recently modified their holdings of the company. Boston Partners boosted its stake in shares of Air Lease Corp. by 84.8% in the second quarter. Boston Partners now owns 2,139,606 shares of the company’s stock worth $57,299,000 after buying an additional 982,056 shares during the last quarter. Williams Jones & Associates LLC purchased a new stake in shares of Air Lease Corp. during the second quarter worth approximately $19,370,000. Dimensional Fund Advisors LP boosted its stake in shares of Air Lease Corp. by 20.9% in the second quarter. Dimensional Fund Advisors LP now owns 3,625,297 shares of the company’s stock worth $97,082,000 after buying an additional 626,227 shares during the last quarter. Point72 Asset Management L.P. purchased a new stake in shares of Air Lease Corp. during the second quarter worth approximately $10,658,000. Finally, Pekin Singer Strauss Asset Management IL purchased a new stake in shares of Air Lease Corp. during the second quarter worth approximately $9,416,000. 92.75% of the stock is currently owned by institutional investors and hedge funds.
About Air Lease Corp.
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.
Receive News & Stock Ratings for Air Lease Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Air Lease Corp. and related stocks with our FREE daily email newsletter.