Air Lease Corp Sets New 52-Week High at $40.68 (AL)
Shares of Air Lease Corp (NYSE:AL) reached a new 52-week high during mid-day trading on Wednesday , AnalystRatingsNetwork reports. The company traded as high as $40.68 and last traded at $40.49, with a volume of 1,225,972 shares changing hands. The stock had previously closed at $39.39.
AL has been the subject of a number of recent research reports. 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, May 12th. 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 equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $41.50.
The stock’s 50-day moving average is $37.29 and its 200-day moving average is $34.2. The company has a market cap of $4.088 billion and a P/E ratio of 19.80.
Air Lease Corp (NYSE:AL) last announced its earnings results on Thursday, May 8th. The company reported $0.57 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted $0.38 earnings per share. Air Lease Corp’s revenue was up 28.3% compared to the same quarter last year. Analysts expect that Air Lease Corp will post $2.33 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Monday, July 7th. Investors 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 0.30%. The ex-dividend date of this dividend is Thursday, June 12th.
In other Air Lease Corp news, Director Marshall Larsen bought 2,500 shares of Air Lease Corp stock on the open market in a transaction dated Thursday, May 15th. The stock was purchased at an average price of $39.15 per share, with a total value of $97,875.00. Following the completion of the purchase, the director now directly owns 6,308 shares of the company’s stock, valued at approximately $246,958. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
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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