Air Lease Corp EVP Unloads $76,640 in Stock (AL)
Air Lease Corp (NYSE:AL) EVP Marc H. Baer unloaded 2,000 shares of the company’s stock on the open market in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $38.32, for a total transaction of $76,640.00. Following the completion of the sale, the executive vice president now directly owns 136,249 shares of the company’s stock, valued at approximately $5,221,062. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Air Lease Corp (NYSE:AL) traded down 2.34% on Wednesday, hitting $37.97. 965,491 shares of the company’s stock traded hands. Air Lease Corp has a 52-week low of $25.99 and a 52-week high of $42.89. The stock has a 50-day moving average of $36.75 and a 200-day moving average of $37.41. The company has a market cap of $3.888 billion and a P/E ratio of 18.01.
Air Lease Corp (NYSE:AL) last announced its 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 announced a quarterly dividend, which is scheduled for Monday, October 6th. Shareholders of record on Monday, September 15th will be paid a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 0.32%. The ex-dividend date is Thursday, September 11th.
AL has been the subject of a number of recent research reports. 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 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 company. The stock has a consensus rating of “Buy” and an average price target of $42.15.
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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