Air Lease Corp Director Jie Chen Unloads 5,000 Shares (AL)
Air Lease Corp (NYSE:AL) Director Jie Chen sold 5,000 shares of Air Lease Corp stock on the open market in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $40.00, for a total transaction of $200,000.00. Following the transaction, the director now directly owns 165,220 shares in the company, valued at approximately $6,608,800. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.
Shares of Air Lease Corp (NYSE:AL) traded down 1.31% during mid-day trading on Wednesday, hitting $39.14. The stock had a trading volume of 495,085 shares. Air Lease Corp has a 52-week low of $25.13 and a 52-week high of $40.36. The stock’s 50-day moving average is $36.84 and its 200-day moving average is $33.70. The company has a market cap of $3.989 billion and a P/E ratio of 19.94.
Air Lease Corp (NYSE:AL) last issued its quarterly earnings data on Thursday, May 8th. The company reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $0.07. The company had revenue of $246.28 million for the quarter, compared to the consensus estimate of $238.42 million. During the same quarter in the previous year, the company posted $0.38 earnings per share. The company’s revenue for the quarter was up 28.3% on a year-over-year basis. On average, analysts predict that Air Lease Corp will post $2.33 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Monday, July 7th. Shareholders of record on Monday, June 16th will be given a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 0.31%. The ex-dividend date of this dividend is Thursday, June 12th.
A number of research firms have recently commented on AL. Analysts at Macquarie raised their price target on shares of Air Lease Corp from $38.00 to $42.00 in a research note on Monday. Separately, analysts at Morgan Stanley reiterated an “overweight” rating on shares of Air Lease Corp in a research note on Friday, May 9th. They now have a $38.00 price target on the stock. Finally, analysts at FBR Capital Markets raised their price target on shares of Air Lease Corp from $40.00 to $41.00 in a research note on Friday, May 9th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $41.50.
Air Lease Corporation is an aircraft leasing company. The Company is principally engaged in purchasing commercial aircraft which the Company, in turn, lease to airlines around the world.
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