Air Lease Corp Receives Consensus Rating of “Buy” from Brokerages (NYSE:AL)
Air Lease Corp (NYSE:AL) has been given a consensus recommendation of “Buy” by the ten brokerages that are covering the company, American Banking and Market News reports. Three equities research analysts have rated the stock with a hold recommendation, four have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $42.36.
Air Lease Corp (NYSE:AL) opened at 37.90 on Tuesday. Air Lease Corp has a 52 week low of $25.86 and a 52 week high of $42.89. The stock has a 50-day moving average of $36.71 and a 200-day moving average of $37.27. The company has a market cap of $3.880 billion and a price-to-earnings ratio of 17.55.
Air Lease Corp (NYSE:AL) last issued its quarterly earnings data on Thursday, August 7th. The company reported $0.58 EPS for the quarter, beating the Thomson Reuters 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 prior year, the company posted $0.41 earnings per share. The company’s quarterly revenue was up 23.3% on a year-over-year basis. Analysts expect that Air Lease Corp will post $2.34 EPS 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 0.32%. 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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