Air Lease Corp Receives Consensus Recommendation of “Buy” from Brokerages (NYSE:AL)
Air Lease Corp (NYSE:AL) has been given an average rating of “Buy” by the ten analysts that are presently covering the company, Stock Ratings News reports. Three research analysts have rated the stock with a hold recommendation, four have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $42.36.
Air Lease Corp (NYSE:AL) traded up 1.42% during mid-day trading on Tuesday, hitting $38.67. The stock had a trading volume of 197,043 shares. Air Lease Corp has a 52-week low of $25.74 and a 52-week high of $42.89. The stock has a 50-day moving average of $36.58 and a 200-day moving average of $37.15. The company has a market cap of $3.959 billion and a P/E ratio of 17.66.
Air Lease Corp (NYSE:AL) last posted its quarterly earnings results on Thursday, August 7th. The company reported $0.58 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted $0.41 earnings per share. Air Lease Corp’s revenue was up 23.3% compared to the same quarter last year. On average, analysts predict that Air Lease Corp will post $2.34 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Monday, October 6th. Shareholders 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 0.31%. The ex-dividend date of this dividend is Thursday, September 11th.
Several analysts have recently commented on the stock. Analysts at Zacks downgraded shares of Air Lease Corp from an “outperform” rating to a “neutral” rating in a research note on Friday, August 8th. They now have a $43.20 price target on the stock. Separately, 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 RBC Capital raised their price target on shares of Air Lease Corp from $48.00 to $49.00 in a research note on Friday, July 18th. They now have an “outperform” rating on the stock.
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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