Air Lease Corporation (AL) Expected to Announce Quarterly Sales of $381.83 Million
Brokerages expect Air Lease Corporation (NYSE:AL) to post $381.83 million in sales for the current fiscal quarter, Zacks Investment Research reports. Four analysts have provided estimates for Air Lease Corporation’s earnings. The highest sales estimate is $396.26 million and the lowest is $373.60 million. Air Lease Corporation reported sales of $355.10 million during the same quarter last year, which would suggest a positive year over year growth rate of 7.5%. The business is expected to announce its next quarterly earnings report on Thursday, November 2nd.
According to Zacks, analysts expect that Air Lease Corporation will report full-year sales of $381.83 million for the current financial year, with estimates ranging from $1.44 billion to $1.54 billion. For the next year, analysts expect that the company will post sales of $1.74 billion per share, with estimates ranging from $1.60 billion to $1.81 billion. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that follow Air Lease Corporation.
Air Lease Corporation (NYSE:AL) last announced its earnings results on Thursday, August 3rd. The transportation company reported $0.92 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.84 by $0.08. Air Lease Corporation had a net margin of 25.64% and a return on equity of 10.99%. The firm had revenue of $380.59 million for the quarter, compared to analyst estimates of $375.14 million. During the same quarter last year, the business earned $1.39 earnings per share. Air Lease Corporation’s revenue was up 8.7% compared to the same quarter last year.
A number of research firms have recently issued reports on AL. Bank of America Corporation downgraded shares of Air Lease Corporation from a “buy” rating to a “neutral” rating and set a $44.00 price objective on the stock. in a report on Wednesday, August 9th. Zacks Investment Research upgraded shares of Air Lease Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, August 9th. BidaskClub downgraded shares of Air Lease Corporation from a “buy” rating to a “hold” rating in a report on Friday, August 11th. Cowen and Company raised their target price on shares of Air Lease Corporation from $41.00 to $45.00 and gave the company an “outperform” rating in a research note on Friday, August 4th. Finally, ValuEngine raised shares of Air Lease Corporation from a “buy” rating to a “strong-buy” rating in a research note on Saturday, June 10th. Four investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $45.25.
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Shares of Air Lease Corporation (AL) opened at 39.47 on Friday. Air Lease Corporation has a 12 month low of $27.05 and a 12 month high of $43.39. The firm has a market cap of $4.07 billion, a price-to-earnings ratio of 11.49 and a beta of 1.78. The company’s 50-day moving average is $39.73 and its 200-day moving average is $38.34.
The business also recently disclosed 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 is Tuesday, September 12th. This represents a $0.30 dividend on an annualized basis and a yield of 0.76%. Air Lease Corporation’s dividend payout ratio (DPR) is 8.70%.
In other news, EVP Grant A. Levy sold 27,854 shares of Air Lease Corporation 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 completion of the sale, the executive vice president now owns 210,824 shares of the company’s stock, valued at $8,045,043.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Jie Chen sold 10,000 shares of Air Lease Corporation stock in a transaction on Tuesday, August 8th. The stock was sold at an average price of $43.00, for a total value of $430,000.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 47,416 shares of company stock valued at $1,869,271. Company insiders own 9.76% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Israel Discount Bank of New York bought a new position in Air Lease Corporation during the first quarter worth approximately $100,000. Fiduciary Trust Co. bought a new position in Air Lease Corporation during the second quarter worth approximately $111,000. QS Investors LLC increased its position in Air Lease Corporation by 0.6% in the second quarter. QS Investors LLC now owns 3,464 shares of the transportation company’s stock worth $129,000 after buying an additional 21 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Air Lease Corporation by 10.1% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,599 shares of the transportation company’s stock worth $134,000 after buying an additional 331 shares during the period. Finally, Bank of Montreal Can increased its position in 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 worth $150,000 after buying an additional 35 shares during the period. 95.13% of the stock is owned by institutional investors and hedge funds.
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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