Air Lease Corporation (AL) Expected to Post Earnings of $0.86 Per Share
Brokerages predict that Air Lease Corporation (NYSE:AL) will report earnings per share of $0.86 for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for Air Lease Corporation’s earnings. The highest EPS estimate is $0.89 and the lowest is $0.82. Air Lease Corporation also reported earnings per share of $0.86 in the same quarter last year. The firm is expected to announce its next quarterly earnings results after the market closes on Thursday, November 9th.
According to Zacks, analysts expect that Air Lease Corporation will report full-year earnings of $3.41 per share for the current financial year, with EPS estimates ranging from $3.30 to $3.55. For the next year, analysts forecast that the business will report earnings of $3.94 per share, with EPS estimates ranging from $3.66 to $4.17. Zacks Investment Research’s earnings per share averages are an average based on a survey of research analysts that that provide coverage for Air Lease Corporation.
A number of equities analysts have recently weighed in on the company. BidaskClub downgraded Air Lease Corporation from a “buy” rating to a “hold” rating in a research note on Friday, August 11th. Bank of America Corporation downgraded Air Lease Corporation from a “buy” rating to a “neutral” rating and set a $44.00 target price on the stock. in a research note on Wednesday, August 9th. Zacks Investment Research raised shares of Air Lease Corporation from a “sell” rating to a “hold” rating in a report on Monday, July 10th. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $80.00 price target on shares of Air Lease Corporation in a report on Thursday, November 2nd. Finally, Cowen and Company lifted their price target on shares of Air Lease Corporation from $41.00 to $45.00 and gave the stock an “outperform” rating in a report on Friday, August 4th. Four equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $50.43.
Shares of Air Lease Corporation (AL) traded down $0.21 during midday trading on Tuesday, hitting $43.79. The stock had a trading volume of 544,469 shares, compared to its average volume of 617,363. Air Lease Corporation has a 12-month low of $31.28 and a 12-month high of $45.15. The stock has a market cap of $4,460.00, a P/E ratio of 12.75, a PEG ratio of 1.32 and a beta of 1.83. The company has a debt-to-equity ratio of 2.61, a current ratio of 0.95 and a quick ratio of 0.95.
In other news, Director Jie Chen sold 2,000 shares of the business’s stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $43.82, for a total transaction of $87,640.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Alex A. Khatibi sold 11,000 shares of the business’s stock in a transaction on Monday, September 11th. The shares were sold at an average price of $40.00, for a total transaction of $440,000.00. Following the transaction, the executive vice president now owns 142,786 shares of the company’s stock, valued at $5,711,440. The disclosure for this sale can be found here. Insiders have sold a total of 24,562 shares of company stock valued at $1,000,003 over the last 90 days. Company insiders own 9.76% of the company’s stock.
A number of large investors have recently made changes to their positions in the stock. Russell Investments Group Ltd. grew its position in Air Lease Corporation by 67.0% in the third quarter. Russell Investments Group Ltd. now owns 12,836 shares of the transportation company’s stock worth $547,000 after acquiring an additional 5,149 shares in the last quarter. New York State Common Retirement Fund grew its position in Air Lease Corporation by 16.4% in the third quarter. New York State Common Retirement Fund now owns 289,620 shares of the transportation company’s stock worth $12,344,000 after acquiring an additional 40,900 shares in the last quarter. Opera Trading Capital grew its position in Air Lease Corporation by 8.5% in the third quarter. Opera Trading Capital now owns 123,809 shares of the transportation company’s stock worth $5,277,000 after acquiring an additional 9,709 shares in the last quarter. Zweig DiMenna Associates LLC grew its position in Air Lease Corporation by 90.4% in the third quarter. Zweig DiMenna Associates LLC now owns 156,913 shares of the transportation company’s stock worth $6,688,000 after acquiring an additional 74,500 shares in the last quarter. Finally, Principal Financial Group Inc. purchased a new position in Air Lease Corporation in the third quarter worth $417,000. Institutional investors own 92.20% of the company’s stock.
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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