Air Lease Corp. (AL) Cut to Sell at Zacks Investment Research
Air Lease Corp. (NYSE:AL) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Monday.
According to Zacks, “Air Lease Corporation is an aircraft leasing company principally engaged in purchasing commercial aircraft and leasing to airlines around the world. The Company provides leasing services in Asia, the Pacific Rim, Latin America, the Middle East and Eastern Europe. Air Lease Corporation is based in Los Angeles, California. “
AL has been the topic of several other reports. FBR & Co reaffirmed a “buy” rating and set a $35.00 target price on shares of Air Lease Corp. in a report on Monday, September 19th. TheStreet downgraded Air Lease Corp. from a “buy” rating to a “hold” rating in a report on Monday, June 13th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. Air Lease Corp. presently has a consensus rating of “Buy” and a consensus price target of $44.44.
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Shares of Air Lease Corp. (NYSE:AL) traded up 1.63% on Monday, reaching $29.98. The company had a trading volume of 761,236 shares. Air Lease Corp. has a 12 month low of $22.47 and a 12 month high of $35.22. The stock has a 50-day moving average price of $28.56 and a 200-day moving average price of $29.17. The stock has a market cap of $3.08 billion, a PE ratio of 9.52 and a beta of 1.59.
Air Lease Corp. (NYSE:AL) last announced its earnings results on Thursday, August 4th. The company reported $0.84 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.82 by $0.02. The firm had revenue of $350.10 million for the quarter, compared to the consensus estimate of $349.19 million. Air Lease Corp. had a return on equity of 14.72% and a net margin of 25.70%. The business’s quarterly revenue was up 14.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.70 EPS. Analysts predict that Air Lease Corp. will post $3.39 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, October 6th. Investors of record on Monday, September 12th were given a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.67%. The ex-dividend date was Thursday, September 8th. Air Lease Corp.’s payout ratio is 6.37%.
A number of hedge funds have recently modified their holdings of AL. LS Investment Advisors LLC purchased a new stake in shares of Air Lease Corp. during the second quarter worth approximately $102,000. Monetary Management Group Inc. raised its stake in shares of Air Lease Corp. by 17.9% in the first quarter. Monetary Management Group Inc. now owns 3,300 shares of the company’s stock worth $106,000 after buying an additional 500 shares during the last quarter. Tower Research Capital LLC TRC raised its stake in shares of Air Lease Corp. by 761.7% in the second quarter. Tower Research Capital LLC TRC now owns 4,188 shares of the company’s stock worth $112,000 after buying an additional 3,702 shares during the last quarter. Metropolitan Life Insurance Co. NY raised its stake in shares of Air Lease Corp. by 55.1% in the second quarter. Metropolitan Life Insurance Co. NY now owns 5,025 shares of the company’s stock worth $135,000 after buying an additional 1,786 shares during the last quarter. Finally, Glenmede Trust Co. NA purchased a new stake in shares of Air Lease Corp. during the second quarter worth approximately $137,000. 91.53% of the stock is owned by institutional investors and hedge funds.
About Air Lease Corp.
Air Lease Corporation is an aircraft leasing company. The Company is principally engaged in purchasing new commercial jet transport aircraft directly from aircraft manufacturers, such as The Boeing Company (Boeing) and Airbus SAS. (Airbus), and leasing those aircraft to airlines across the world. Along with its leasing activities, the Company sells aircraft from its operating lease portfolio to third parties, including other leasing companies, financial services companies and airlines.
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