Air Lease (AL) Reaches New 1-Year High at $47.60

Air Lease Corp (NYSE:AL)’s share price hit a new 52-week high on Thursday . The stock traded as high as $47.60 and last traded at $46.93, with a volume of 739700 shares trading hands. The stock had previously closed at $46.79.

AL has been the topic of a number of recent research reports. Royal Bank of Canada raised their price target on shares of Air Lease from $79.00 to $80.00 and gave the stock a “top pick” rating in a research report on Friday, September 29th. Bank of America set a $47.00 price target on shares of Air Lease and gave the stock a “hold” rating in a research report on Thursday, October 19th. Zacks Investment Research lowered shares of Air Lease from a “hold” rating to a “sell” rating in a research report on Thursday, November 9th. Cowen raised their price target on shares of Air Lease from $45.00 to $54.00 and gave the stock an “outperform” rating in a research report on Friday, November 10th. Finally, UBS raised their price target on shares of Air Lease from $30.00 to $31.00 and gave the stock a “sell” rating in a research report on Friday, November 10th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $48.50.

The firm has a market capitalization of $4,940.00, a P/E ratio of 13.74, a PEG ratio of 1.41 and a beta of 1.82. The company has a debt-to-equity ratio of 2.53, a current ratio of 1.06 and a quick ratio of 1.06.

Air Lease (NYSE:AL) last announced its quarterly earnings data on Thursday, November 9th. The transportation company reported $0.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.87 by $0.03. The firm had revenue of $376.77 million for the quarter, compared to the consensus estimate of $374.61 million. Air Lease had a net margin of 25.67% and a return on equity of 10.87%. The business’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same period in the prior year, the company posted $1.43 earnings per share. equities research analysts forecast that Air Lease Corp will post 3.44 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 4th. Shareholders of record on Thursday, December 14th will be paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.84%. This is an increase from Air Lease’s previous quarterly dividend of $0.08. The ex-dividend date of this dividend is Wednesday, December 13th. Air Lease’s dividend payout ratio is presently 11.49%.

In other news, Director Jie Chen sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $43.82, for a total value of $87,640.00. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Grant A. Levy sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, December 8th. The shares were sold at an average price of $43.88, for a total transaction of $438,800.00. Following the completion of the sale, the executive vice president now owns 163,824 shares in the company, valued at $7,188,597.12. The disclosure for this sale can be found here. Insiders have sold 379,000 shares of company stock worth $15,919,270 over the last quarter. Corporate insiders own 9.76% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of AL. Israel Discount Bank of New York boosted its position in Air Lease by 7.7% during the 2nd quarter. Israel Discount Bank of New York now owns 2,785 shares of the transportation company’s stock worth $104,000 after buying an additional 200 shares during the period. Fiduciary Trust Co. acquired a new stake in Air Lease during the 2nd quarter worth approximately $111,000. Zions Bancorporation acquired a new stake in Air Lease during the 3rd quarter worth approximately $114,000. QS Investors LLC boosted its position in Air Lease by 0.6% during the 2nd quarter. QS Investors LLC now owns 3,464 shares of the transportation company’s stock worth $129,000 after buying an additional 21 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Air Lease by 10.1% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,599 shares of the transportation company’s stock worth $134,000 after buying an additional 331 shares during the period. Institutional investors own 91.83% of the company’s stock.

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About Air Lease

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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