Air Lease Corp Rating Lowered to Neutral at Zacks (AL)
Air Lease Corp (NYSE:AL) was downgraded by Zacks from an “outperform” rating to a “neutral” rating in a report issued on Friday. They currently have a $43.20 price target on the stock. Zacks‘s price target points to a potential upside of 16.25% from the company’s current price.
Air Lease Corp (NYSE:AL) traded up 5.27% during mid-day trading on Friday, hitting $37.16. 1,366,661 shares of the company’s stock traded hands. Air Lease Corp has a 52-week low of $25.74 and a 52-week high of $42.89. The stock’s 50-day moving average is $37.02 and its 200-day moving average is $36.66. The company has a market cap of $3.805 billion and a price-to-earnings ratio of 16.34. Air Lease Corp also saw some unusual options trading on Thursday. Stock traders acquired 461 call options on the company. This is an increase of approximately 469% compared to the typical volume of 81 call options.
Air Lease Corp (NYSE:AL) last issued its quarterly earnings data on Thursday, August 7th. The company reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.06. The company had revenue of $256.30 million for the quarter, compared to the consensus estimate of $246.16 million. During the same quarter in the previous year, the company posted $0.41 earnings per share. The company’s revenue for the quarter was up 23.3% on a year-over-year basis. Analysts expect that Air Lease Corp will post $2.32 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Monday, October 6th. Investors of record on Monday, September 15th will be given a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 0.32%. The ex-dividend date of this dividend is Thursday, September 11th.
In other Air Lease Corp news, CEO Steven F. Udvar-Hazy sold 10,000 shares of the company’s stock on the open market in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $37.00, for a total value of $370,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
A number of other firms have also recently commented on AL. Analysts at RBC Capital upgraded shares of Air Lease Corp from an “outperform” rating to a “top pick” rating in a research note on Monday, August 4th. They now have a $49.00 price target on the stock. They noted that the move was a valuation call. Finally, 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. Three research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $42.36.
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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