Air Lease Corp CEO Steven F. Udvar-Hazy Unloads 10,000 Shares (AL)
Air Lease Corp (NYSE:AL) CEO Steven F. Udvar-Hazy sold 10,000 shares of the company’s stock on the open market in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $38.09, for a total value of $380,900.00. Following the transaction, the chief executive officer now directly owns 986,380 shares in the company, valued at approximately $37,571,214. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
A number of research firms have recently commented on AL. Analysts at Deutsche Bank reiterated a “buy” rating on shares of Air Lease Corp in a research note on Tuesday. Separately, 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. Finally, 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. Three equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $42.15.
Shares of Air Lease Corp (NYSE:AL) traded down 2.34% during mid-day trading on Wednesday, hitting $37.97. The stock had a trading volume of 965,491 shares. Air Lease Corp has a 1-year low of $25.99 and a 1-year high of $42.89. The stock’s 50-day moving average is $36.75 and its 200-day moving average is $37.41. The company has a market cap of $3.888 billion and a price-to-earnings ratio of 18.01.
Air Lease Corp (NYSE:AL) last posted its quarterly earnings results 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 $2.34 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Monday, October 6th. Stockholders 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.
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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