$380.36 Million in Sales Expected for Air Lease Corp (AL) This Quarter
Brokerages expect Air Lease Corp (NYSE:AL) to post sales of $380.36 million for the current quarter, according to Zacks. Two analysts have issued estimates for Air Lease’s earnings. The lowest sales estimate is $374.00 million and the highest is $386.72 million. Air Lease posted sales of $370.49 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 2.7%. The company is scheduled to issue its next earnings report on Thursday, February 22nd.
According to Zacks, analysts expect that Air Lease will report full-year sales of $380.36 million for the current financial year, with estimates ranging from $1.44 billion to $1.50 billion. For the next fiscal year, analysts expect that the firm will post sales of $1.70 billion per share, with estimates ranging from $1.61 billion to $1.75 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that cover Air Lease.
Air Lease (NYSE:AL) last posted its quarterly earnings results on Thursday, November 9th. The transportation company reported $0.90 EPS for the quarter, beating the consensus estimate of $0.87 by $0.03. Air Lease had a net margin of 25.67% and a return on equity of 10.87%. The business had revenue of $376.77 million for the quarter, compared to analysts’ expectations of $374.61 million. During the same period in the previous year, the company posted $1.43 EPS. Air Lease’s revenue was up 6.1% on a year-over-year basis.
Shares of Air Lease (AL) traded up $1.07 during trading hours on Friday, reaching $45.80. 943,439 shares of the company were exchanged, compared to its average volume of 583,885. The company has a market capitalization of $4,617.93, a PE ratio of 12.82, a PEG ratio of 1.35 and a beta of 1.82. Air Lease has a 12-month low of $34.21 and a 12-month high of $45.90. The company has a debt-to-equity ratio of 2.53, a current ratio of 1.06 and a quick ratio of 1.06.
The company also recently announced a quarterly dividend, which will be paid on Thursday, January 4th. Shareholders of record on Thursday, December 14th will be given a dividend of $0.10 per share. This is a positive change from Air Lease’s previous quarterly dividend of $0.08. The ex-dividend date is Wednesday, December 13th. This represents a $0.40 dividend on an annualized basis and a yield of 0.87%. Air Lease’s payout ratio is currently 11.46%.
In other Air Lease news, EVP Jie Chen sold 52,000 shares of the business’s stock in a transaction on Wednesday, December 13th. The shares were sold at an average price of $45.00, for a total transaction of $2,340,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Kishore Korde sold 2,000 shares of the business’s stock in a transaction on Wednesday, November 15th. The stock was sold at an average price of $40.80, for a total transaction of $81,600.00. Following the transaction, the executive vice president now directly owns 84,410 shares of the company’s stock, valued at approximately $3,443,928. The disclosure for this sale can be found here. In the last three months, insiders have sold 379,000 shares of company stock valued at $15,919,270. Company insiders own 9.76% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in AL. SLS Management LLC acquired a new position in shares of Air Lease during the second quarter valued at about $1,535,000. Nationwide Fund Advisors raised its position in shares of Air Lease by 45.4% during the second quarter. Nationwide Fund Advisors now owns 33,684 shares of the transportation company’s stock valued at $1,258,000 after buying an additional 10,517 shares during the last quarter. Prudential Financial Inc. raised its position in shares of Air Lease by 18.9% during the third quarter. Prudential Financial Inc. now owns 255,979 shares of the transportation company’s stock valued at $10,910,000 after buying an additional 40,769 shares during the last quarter. NGAM Advisors L.P. raised its position in shares of Air Lease by 2.4% during the second quarter. NGAM Advisors L.P. now owns 18,717 shares of the transportation company’s stock valued at $699,000 after buying an additional 447 shares during the last quarter. Finally, Zweig DiMenna Associates LLC raised its position in shares of Air Lease by 90.4% during the third quarter. Zweig DiMenna Associates LLC now owns 156,913 shares of the transportation company’s stock valued at $6,688,000 after buying an additional 74,500 shares during the last quarter. 91.87% of the stock is owned by hedge funds and other institutional investors.
Air Lease 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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