Air Lease Corporation (NYSE:AL) Expected to Post Quarterly Sales of $377.30 Million
Analysts forecast that Air Lease Corporation (NYSE:AL) will announce $377.30 million in sales for the current quarter, according to Zacks Investment Research. Four analysts have provided estimates for Air Lease Corporation’s earnings, with the lowest sales estimate coming in at $368.13 million and the highest estimate coming in at $382.38 million. Air Lease Corporation posted sales of $350.14 million in the same quarter last year, which would indicate a positive year over year growth rate of 7.8%. The firm is expected to issue its next earnings results after the market closes on Thursday, August 3rd.
On average, analysts expect that Air Lease Corporation will report full-year sales of $377.30 million for the current financial year, with estimates ranging from $1.46 billion to $1.54 billion. For the next financial year, analysts anticipate that the business will post sales of $1.79 billion per share, with estimates ranging from $1.77 billion to $1.83 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that that provide coverage for Air Lease Corporation.
AL has been the topic of a number of analyst reports. Zacks Investment Research cut Air Lease Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, May 30th. Morgan Stanley cut Air Lease Corporation from an “overweight” rating to an “equal weight” rating and upped their price objective for the stock from $40.00 to $42.00 in a research note on Thursday, April 6th. FBR & Co dropped their price objective on Air Lease Corporation from $47.00 to $45.00 and set an “outperform” rating on the stock in a research note on Friday, May 5th. Royal Bank Of Canada reiterated a “buy” rating on shares of Air Lease Corporation in a research note on Friday, May 5th. Finally, ValuEngine upgraded Air Lease Corporation from a “buy” rating to a “strong-buy” rating in a research note on Saturday, June 10th. Two research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $44.86.
Air Lease Corporation (AL) opened at 38.41 on Friday. The firm’s 50-day moving average price is $37.43 and its 200 day moving average price is $37.25. Air Lease Corporation has a one year low of $25.07 and a one year high of $40.24. The firm has a market cap of $3.96 billion, a P/E ratio of 11.44 and a beta of 1.78.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 11th. Investors of record on Wednesday, June 14th were paid a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a yield of 0.78%. The ex-dividend date was Monday, June 12th. Air Lease Corporation’s dividend payout ratio (DPR) is presently 8.90%.
In related news, EVP Kishore Korde sold 2,000 shares of the stock in a transaction on Thursday, June 1st. The stock was sold at an average price of $38.00, for a total value of $76,000.00. Following the sale, the executive vice president now owns 86,410 shares in the company, valued at approximately $3,283,580. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Grant A. Levy sold 27,854 shares of the stock in a transaction on Tuesday, June 13th. The shares were sold at an average price of $38.16, for a total value of $1,062,908.64. Following the completion of the sale, the executive vice president now owns 210,824 shares in the company, valued at approximately $8,045,043.84. The disclosure for this sale can be found here. In the last 90 days, insiders sold 31,854 shares of company stock worth $1,214,909. 9.76% of the stock is owned by company insiders.
Large investors have recently bought and sold shares of the stock. Artisan Partners Limited Partnership boosted its stake in Air Lease Corporation by 1.7% in the first quarter. Artisan Partners Limited Partnership now owns 9,059,266 shares of the transportation company’s stock worth $351,047,000 after buying an additional 154,423 shares during the period. Vanguard Group Inc. boosted its stake in Air Lease Corporation by 4.1% in the first quarter. Vanguard Group Inc. now owns 7,454,231 shares of the transportation company’s stock worth $288,852,000 after buying an additional 294,544 shares during the period. Boston Partners boosted its stake in Air Lease Corporation by 118.3% in the first quarter. Boston Partners now owns 4,975,034 shares of the transportation company’s stock worth $192,782,000 after buying an additional 2,696,510 shares during the period. Dimensional Fund Advisors LP boosted its stake in Air Lease Corporation by 4.5% in the first quarter. Dimensional Fund Advisors LP now owns 4,591,941 shares of the transportation company’s stock worth $177,938,000 after buying an additional 197,806 shares during the period. Finally, BlackRock Inc. boosted its stake in Air Lease Corporation by 14,924.1% in the first quarter. BlackRock Inc. now owns 3,851,727 shares of the transportation company’s stock worth $149,254,000 after buying an additional 3,826,090 shares during the period. Institutional investors and hedge funds own 92.11% of the company’s stock.
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About Air Lease Corporation
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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