Zacks: Analysts Expect Air Lease Corp (AL) Will Post Quarterly Sales of $380.36 Million

Wall Street brokerages expect Air Lease Corp (NYSE:AL) to announce sales of $380.36 million for the current quarter, Zacks reports. Two analysts have issued estimates for Air Lease’s earnings, with the lowest sales estimate coming in at $374.00 million and the highest estimate coming in at $386.72 million. Air Lease posted sales of $370.49 million during the same quarter last year, which suggests a positive year over year growth rate of 2.7%. The business is expected to report its next earnings report after the market closes on Thursday, February 22nd.

On average, analysts expect that Air Lease will report full-year sales of $380.36 million for the current financial year, with estimates ranging from $1.43 billion to $1.50 billion. For the next year, analysts expect that the company will post sales of $1.70 billion per share, with estimates ranging from $1.62 billion to $1.75 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that follow Air Lease.

Air Lease (NYSE:AL) last announced its quarterly earnings results on Thursday, November 9th. The transportation company reported $0.90 earnings per share (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 firm had revenue of $376.77 million during the quarter, compared to the consensus estimate of $374.61 million. During the same period last year, the firm posted $1.43 EPS. The firm’s quarterly revenue was up 6.1% on a year-over-year basis.

Several equities analysts recently issued reports on the stock. Zacks Investment Research raised shares of Air Lease from a “sell” rating to a “hold” rating in a report on Wednesday, November 15th. ValuEngine downgraded shares of Air Lease from a “buy” rating to a “hold” rating in a report on Friday, December 1st. Cowen lifted their price target on shares of Air Lease from $45.00 to $54.00 and gave the company an “outperform” rating in a report on Friday, November 10th. Credit Suisse Group lifted their price target on shares of Air Lease from $44.00 to $46.00 and gave the company an “outperform” rating in a report on Friday, November 10th. Finally, UBS Group raised their price objective on shares of Air Lease from $30.00 to $31.00 and gave the company a “sell” rating in a research report on Friday, November 10th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $49.40.

In other news, Director Jie Chen sold 4,000 shares of Air Lease stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $48.81, for a total transaction of $195,240.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO John L. Plueger sold 300,000 shares of Air Lease stock in a transaction that occurred on Wednesday, November 15th. The stock was sold at an average price of $41.34, for a total transaction of $12,402,000.00. Following the sale, the chief executive officer now owns 1,057,310 shares of the company’s stock, valued at approximately $43,709,195.40. The disclosure for this sale can be found here. Insiders sold a total of 383,000 shares of company stock valued at $16,145,030 in the last 90 days. Corporate insiders own 9.76% of the company’s stock.

Large investors have recently modified their holdings of the company. Zions Bancorporation acquired a new stake in shares of Air Lease during the 3rd quarter worth approximately $114,000. QS Investors LLC grew its position in shares of Air Lease by 0.6% during the 2nd 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. Comerica Bank acquired a new stake in shares of Air Lease during the 4th quarter worth approximately $213,000. Parametrica Management Ltd acquired a new stake in shares of Air Lease during the 4th quarter worth approximately $225,000. Finally, Sciencast Management LP bought a new position in Air Lease during the 2nd quarter worth approximately $235,000. Institutional investors own 91.86% of the company’s stock.

Air Lease (NYSE AL) opened at $47.08 on Friday. Air Lease has a 1-year low of $34.42 and a 1-year high of $50.70. The stock has a market cap of $4,860.00, a PE ratio of 13.53, a P/E/G ratio of 0.79 and a beta of 1.70. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 2.53.

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About Air Lease

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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