Wall Street brokerages forecast that Air Lease Corporation (NYSE:AL) will post sales of $390.92 million for the current fiscal quarter, Zacks reports. Four analysts have made estimates for Air Lease Corporation’s earnings. The lowest sales estimate is $384.30 million and the highest is $396.26 million. Air Lease Corporation reported sales of $355.10 million during the same quarter last year, which indicates a positive year-over-year growth rate of 10.1%. The firm is scheduled to announce its next quarterly earnings results on Thursday, November 2nd.

On average, analysts expect that Air Lease Corporation will report full year sales of $390.92 million for the current financial year, with estimates ranging from $1.46 billion to $1.54 billion. For the next financial year, analysts expect that the company will post sales of $1.76 billion per share, with estimates ranging from $1.64 billion to $1.83 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that follow Air Lease Corporation.

Air Lease Corporation (NYSE:AL) last issued its quarterly earnings data on Thursday, August 3rd. The transportation company reported $0.92 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.84 by $0.08. The firm had revenue of $380.59 million for the quarter, compared to analyst estimates of $375.14 million. Air Lease Corporation had a return on equity of 10.99% and a net margin of 25.64%. The business’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same period last year, the company earned $1.39 EPS.

A number of research firms have recently commented on AL. Cowen and Company upped their target price on Air Lease Corporation from $41.00 to $45.00 and gave the company an “outperform” rating in a research note on Friday. ValuEngine raised Air Lease Corporation from a “buy” rating to a “strong-buy” rating in a research note on Saturday, June 10th. Morgan Stanley upped their target price on Air Lease Corporation from $40.00 to $42.00 in a research note on Tuesday, July 4th. Barclays PLC began coverage on Air Lease Corporation in a research note on Monday, July 10th. They set an “overweight” rating and a $48.00 target price on the stock. Finally, Royal Bank Of Canada reaffirmed a “buy” rating on shares of Air Lease Corporation in a research note on Monday, May 15th. Two research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $45.43.

Shares of Air Lease Corporation (AL) opened at 42.56 on Monday. Air Lease Corporation has a 12 month low of $27.05 and a 12 month high of $42.57. The company has a market capitalization of $4.39 billion, a price-to-earnings ratio of 12.67 and a beta of 1.78. The stock has a 50 day moving average price of $38.43 and a 200-day moving average price of $37.86.

The business also recently announced a quarterly dividend, which will be paid on Friday, October 6th. Shareholders of record on Wednesday, September 13th will be given a dividend of $0.075 per share. The ex-dividend date of this dividend is Tuesday, September 12th. This represents a $0.30 annualized dividend and a yield of 0.70%. Air Lease Corporation’s dividend payout ratio (DPR) is presently 8.70%.

In other Air Lease Corporation news, EVP Grant A. Levy sold 27,854 shares of the stock in a transaction on Tuesday, June 13th. The stock was sold at an average price of $38.16, for a total transaction of $1,062,908.64. Following the sale, the executive vice president now owns 210,824 shares of the company’s stock, valued at approximately $8,045,043.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Kishore Korde sold 2,000 shares of the stock in a transaction on Thursday, June 1st. The shares were sold at an average price of $38.00, for a total value of $76,000.00. Following the sale, the executive vice president now directly owns 86,410 shares in the company, valued at approximately $3,283,580. The disclosure for this sale can be found here. 9.76% of the stock is currently owned by company insiders.

Hedge funds have recently made changes to their positions in the stock. Alps Advisors Inc. raised its stake in shares of Air Lease Corporation by 0.3% in the second quarter. Alps Advisors Inc. now owns 12,316 shares of the transportation company’s stock valued at $460,000 after buying an additional 32 shares during the last quarter. Bank of Montreal Can raised its stake in shares of Air Lease Corporation by 0.9% in the first quarter. Bank of Montreal Can now owns 3,856 shares of the transportation company’s stock valued at $150,000 after buying an additional 35 shares during the last quarter. Teacher Retirement System of Texas raised its stake in shares of Air Lease Corporation by 1.7% in the second quarter. Teacher Retirement System of Texas now owns 7,877 shares of the transportation company’s stock valued at $294,000 after buying an additional 134 shares during the last quarter. Garrison Bradford & Associates Inc. raised its stake in shares of Air Lease Corporation by 0.9% in the first quarter. Garrison Bradford & Associates Inc. now owns 21,900 shares of the transportation company’s stock valued at $849,000 after buying an additional 200 shares during the last quarter. Finally, Suntrust Banks Inc. raised its stake in shares of Air Lease Corporation by 1.8% in the first quarter. Suntrust Banks Inc. now owns 12,725 shares of the transportation company’s stock valued at $493,000 after buying an additional 231 shares during the last quarter. 91.84% of the stock is currently owned by institutional investors and hedge funds.

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Air Lease Corporation 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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Earnings History and Estimates for Air Lease Corporation (NYSE:AL)

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