Air Lease Corp (AL) Given Average Rating of “Hold” by Analysts

Air Lease Corp (NYSE:AL) has earned an average rating of “Hold” from the thirteen brokerages that are covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $48.50.

A number of equities analysts have commented on AL shares. Citigroup started coverage on shares of Air Lease in a research note on Friday, December 8th. They set a “neutral” rating and a $46.00 target price on the stock. ValuEngine downgraded shares of Air Lease from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. Zacks Investment Research upgraded shares of Air Lease from a “sell” rating to a “hold” rating in a research report on Wednesday, November 15th. Cowen boosted their price objective 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, Credit Suisse Group boosted their price objective on shares of Air Lease from $44.00 to $46.00 and gave the stock an “outperform” rating in a research report on Friday, November 10th.

In other news, CEO John L. Plueger sold 300,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 15th. The shares were sold at an average price of $41.34, for a total transaction of $12,402,000.00. Following the completion of the sale, the chief executive officer now owns 1,057,310 shares of the company’s stock, valued at $43,709,195.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jie Chen sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $43.82, for a total transaction of $87,640.00. The disclosure for this sale can be found here. Insiders sold 379,000 shares of company stock valued at $15,919,270 in the last ninety days. 9.76% of the stock is owned by corporate insiders.

Several hedge funds have recently added to or reduced their stakes in AL. Zions Bancorporation purchased a new stake in shares of Air Lease in the third quarter worth $114,000. Israel Discount Bank of New York lifted its holdings in Air Lease by 7.7% in the second 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. purchased a new stake in Air Lease in the second quarter worth about $111,000. QS Investors LLC lifted its holdings in Air Lease by 0.6% in the second 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 lifted its holdings in Air Lease by 10.1% in the second 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. 91.83% of the stock is owned by institutional investors and hedge funds.

Shares of Air Lease (NYSE:AL) opened at $47.82 on Monday. Air Lease has a fifty-two week low of $34.21 and a fifty-two week high of $47.91. The stock has a market capitalization of $4,898.74, a PE ratio of 13.70, a price-to-earnings-growth ratio of 1.42 and a beta of 1.82. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 2.53.

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

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 4th. Stockholders of record on Thursday, December 14th will be paid a dividend of $0.10 per share. The ex-dividend date is Wednesday, December 13th. This is a boost from Air Lease’s previous quarterly dividend of $0.08. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.84%. Air Lease’s dividend payout ratio is 11.46%.

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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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