Air Lease Corp. (AL) Downgraded 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 released 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. TheStreet downgraded shares of Air Lease Corp. from a “buy” rating to a “hold” rating in a research note on Monday, June 13th. FBR & Co reaffirmed a “buy” rating and set a $35.00 target price on shares of Air Lease Corp. in a research note on Monday, September 19th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $44.44.
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Air Lease Corp. (NYSE:AL) traded up 1.63% during midday trading on Monday, hitting $29.98. 761,236 shares of the stock traded hands. The stock has a market cap of $3.08 billion, a price-to-earnings ratio of 9.52 and a beta of 1.59. Air Lease Corp. has a one year low of $22.47 and a one year high of $35.22. The company has a 50-day moving average price of $28.56 and a 200 day moving average price of $29.17.
Air Lease Corp. (NYSE:AL) last issued its quarterly earnings data on Thursday, August 4th. The company reported $0.84 EPS for the quarter, topping the consensus estimate of $0.82 by $0.02. Air Lease Corp. had a net margin of 25.70% and a return on equity of 14.72%. The firm had revenue of $350.10 million for the quarter, compared to analyst estimates of $349.19 million. During the same period in the prior year, the business posted $0.70 EPS. The business’s revenue for the quarter was up 14.9% compared to the same quarter last year. Equities research analysts anticipate that Air Lease Corp. will post $3.39 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 6th. Shareholders of record on Monday, September 12th were given a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.67%. The ex-dividend date of this dividend was Thursday, September 8th. Air Lease Corp.’s dividend payout ratio is presently 6.37%.
Large investors have recently made changes to their positions in the stock. Quadrature Capital Ltd increased its stake in shares of Air Lease Corp. by 0.9% in the first quarter. Quadrature Capital Ltd now owns 14,900 shares of the company’s stock worth $479,000 after buying an additional 130 shares in the last quarter. Crestpoint Capital Management increased its position in Air Lease Corp. by 1.0% in the fourth quarter. Crestpoint Capital Management now owns 20,600 shares of the company’s stock worth $690,000 after buying an additional 200 shares during the period. Ken Stern & Associates Inc. increased its position in Air Lease Corp. by 3.1% in the second quarter. Ken Stern & Associates Inc. now owns 8,724 shares of the company’s stock worth $234,000 after buying an additional 266 shares during the period. Principal Financial Group Inc. increased its position in Air Lease Corp. by 1.5% in the second quarter. Principal Financial Group Inc. now owns 19,997 shares of the company’s stock worth $536,000 after buying an additional 305 shares during the period. Finally, Calvert Investment Management Inc. increased its position in Air Lease Corp. by 6.1% in the second quarter. Calvert Investment Management Inc. now owns 7,694 shares of the company’s stock worth $206,000 after buying an additional 439 shares during the period. 91.53% of the stock is currently owned by institutional investors.
Air Lease Corp. Company Profile
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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