Analysts predict that Air Lease Corporation (NYSE:AL) will announce earnings per share (EPS) of $0.84 for the current quarter, according to Zacks. Four analysts have made estimates for Air Lease Corporation’s earnings. The lowest EPS estimate is $0.81 and the highest is $0.88. Air Lease Corporation also posted earnings per share of $0.84 during the same quarter last year. The company is scheduled to report its next quarterly earnings results after the market closes on Thursday, August 3rd.
According to Zacks, analysts expect that Air Lease Corporation will report full-year earnings of $3.40 per share for the current fiscal year, with EPS estimates ranging from $3.20 to $3.55. For the next fiscal year, analysts expect that the company will report earnings of $4.05 per share, with EPS estimates ranging from $3.67 to $4.30. Zacks’ earnings per share calculations are an average based on a survey of sell-side analysts that cover Air Lease Corporation.
Several research firms have weighed in on AL. BidaskClub upgraded Air Lease Corporation from a “hold” rating to a “buy” rating in a research note on Tuesday, July 11th. Zacks Investment Research upgraded Air Lease Corporation from a “sell” rating to a “hold” rating in a research note on Monday, July 10th. Barclays PLC began coverage on Air Lease Corporation in a research note on Monday, July 10th. They issued an “overweight” rating and a $48.00 price target for the company. Morgan Stanley upped their price target on Air Lease Corporation from $40.00 to $42.00 in a research note on Tuesday, July 4th. Finally, ValuEngine upgraded Air Lease Corporation from a “buy” rating to a “strong-buy” rating in a research note on Saturday, June 10th. Two analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $44.86.
In related news, EVP Grant A. Levy sold 27,854 shares of the firm’s stock in a transaction on Tuesday, June 13th. The stock was sold at an average price of $38.16, for a total value of $1,062,908.64. Following the completion of the sale, the executive vice president now directly owns 210,824 shares in the company, valued at $8,045,043.84. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Kishore Korde sold 2,000 shares of the firm’s stock in a transaction on Thursday, June 1st. The stock was sold at an average price of $38.00, for a total value of $76,000.00. Following the completion of the sale, the executive vice president now owns 86,410 shares of the company’s stock, valued at $3,283,580. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 31,854 shares of company stock valued at $1,214,909. 9.76% of the stock is owned by corporate insiders.
A number of hedge funds have recently modified their holdings of AL. Bank of New York Mellon Corp increased its stake in shares of Air Lease Corporation by 1.6% in the first quarter. Bank of New York Mellon Corp now owns 492,147 shares of the transportation company’s stock worth $19,071,000 after buying an additional 7,699 shares in the last quarter. Graybill Bartz & Assoc Ltd. raised its stake in Air Lease Corporation by 1.8% in the first quarter. Graybill Bartz & Assoc Ltd. now owns 109,334 shares of the transportation company’s stock worth $4,237,000 after buying an additional 1,890 shares during the last quarter. Norges Bank acquired a new stake in Air Lease Corporation during the fourth quarter worth $14,466,000. Ingalls & Snyder LLC raised its stake in Air Lease Corporation by 1.1% in the first quarter. Ingalls & Snyder LLC now owns 76,225 shares of the transportation company’s stock worth $2,954,000 after buying an additional 844 shares during the last quarter. Finally, Two Sigma Investments LP acquired a new stake in Air Lease Corporation during the fourth quarter worth $740,000. Institutional investors own 92.12% of the company’s stock.
Shares of Air Lease Corporation (NYSE AL) traded up 2.03% during midday trading on Friday, reaching $39.19. 943,323 shares of the company’s stock traded hands. The stock’s 50-day moving average price is $37.43 and its 200 day moving average price is $37.25. The firm has a market capitalization of $4.04 billion, a PE ratio of 11.67 and a beta of 1.77. Air Lease Corporation has a one year low of $27.05 and a one year high of $40.24.
The company also recently announced a quarterly dividend, which was paid on Tuesday, July 11th. Stockholders of record on Wednesday, June 14th were given a dividend of $0.075 per share. The ex-dividend date of this dividend was Monday, June 12th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 0.77%. Air Lease Corporation’s dividend payout ratio is currently 8.90%.
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Air Lease Corporation 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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