Equities analysts expect that Air Lease Corp (NYSE:AL) will post $437.01 million in sales for the current quarter, according to Zacks. Two analysts have provided estimates for Air Lease’s earnings. The lowest sales estimate is $423.37 million and the highest is $450.65 million. Air Lease posted sales of $376.77 million during the same quarter last year, which suggests a positive year-over-year growth rate of 16%. The business is expected to report its next earnings results on Thursday, November 8th.
On average, analysts expect that Air Lease will report full-year sales of $1.66 billion for the current year, with estimates ranging from $1.63 billion to $1.70 billion. For the next financial year, analysts forecast that the business will report sales of $2.16 billion per share, with estimates ranging from $2.08 billion to $2.21 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that follow Air Lease.
Air Lease (NYSE:AL) last issued its quarterly earnings data on Thursday, August 9th. The transportation company reported $1.04 EPS for the quarter, hitting analysts’ consensus estimates of $1.04. The business had revenue of $397.80 million for the quarter, compared to analysts’ expectations of $400.11 million. Air Lease had a net margin of 51.22% and a return on equity of 10.85%. The business’s revenue was up 4.4% on a year-over-year basis. During the same quarter last year, the company earned $1.51 EPS.
A number of equities research analysts have recently commented on the stock. Bank of America reaffirmed a “buy” rating and set a $57.00 price objective on shares of Air Lease in a research note on Thursday, August 16th. Zacks Investment Research cut shares of Air Lease from a “hold” rating to a “sell” rating in a research note on Monday, August 6th. ValuEngine cut shares of Air Lease from a “hold” rating to a “sell” rating in a research note on Friday, September 7th. Royal Bank of Canada raised their price objective on shares of Air Lease from $91.00 to $93.00 and gave the stock a “top pick” rating in a research note on Friday, August 10th. Finally, Compass Point reaffirmed a “buy” rating and set a $58.00 price objective on shares of Air Lease in a research note on Sunday, August 12th. Three research analysts have rated the stock with a sell rating, two have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $55.85.
In related news, EVP Grant A. Levy sold 15,000 shares of Air Lease stock in a transaction on Thursday, September 13th. The shares were sold at an average price of $45.13, for a total value of $676,950.00. Following the sale, the executive vice president now owns 153,399 shares of the company’s stock, valued at approximately $6,922,896.87. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Marc H. Baer sold 10,000 shares of Air Lease stock in a transaction on Tuesday, August 21st. The shares were sold at an average price of $46.22, for a total transaction of $462,200.00. Following the completion of the sale, the executive vice president now directly owns 122,891 shares in the company, valued at approximately $5,680,022.02. The disclosure for this sale can be found here. Insiders sold a total of 31,000 shares of company stock worth $1,420,550 in the last three months. 9.32% of the stock is owned by corporate insiders.
A number of institutional investors have recently added to or reduced their stakes in AL. Shufro Rose & Co. LLC boosted its stake in Air Lease by 3.7% during the 2nd quarter. Shufro Rose & Co. LLC now owns 34,775 shares of the transportation company’s stock worth $1,460,000 after purchasing an additional 1,250 shares during the last quarter. Berson & Corrado Investment Advisors LLC boosted its stake in Air Lease by 12.3% during the 2nd quarter. Berson & Corrado Investment Advisors LLC now owns 11,875 shares of the transportation company’s stock worth $498,000 after purchasing an additional 1,300 shares during the last quarter. Skba Capital Management LLC boosted its stake in Air Lease by 15.2% during the 2nd quarter. Skba Capital Management LLC now owns 10,630 shares of the transportation company’s stock worth $446,000 after purchasing an additional 1,400 shares during the last quarter. GAM Holding AG boosted its stake in Air Lease by 10.7% during the 2nd quarter. GAM Holding AG now owns 19,088 shares of the transportation company’s stock worth $801,000 after purchasing an additional 1,847 shares during the last quarter. Finally, Schroder Investment Management Group boosted its stake in Air Lease by 8.1% during the 1st quarter. Schroder Investment Management Group now owns 25,586 shares of the transportation company’s stock worth $1,090,000 after purchasing an additional 1,915 shares during the last quarter. 86.62% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NYSE AL traded up $0.55 during midday trading on Friday, reaching $45.68. 392,730 shares of the stock were exchanged, compared to its average volume of 615,146. The stock has a market capitalization of $4.68 billion, a price-to-earnings ratio of 11.24, a PEG ratio of 1.18 and a beta of 1.79. Air Lease has a twelve month low of $39.57 and a twelve month high of $50.70. The company has a debt-to-equity ratio of 2.53, a current ratio of 0.85 and a quick ratio of 0.85.
The business also recently declared a quarterly dividend, which will be paid on Friday, October 5th. Investors of record on Friday, September 14th will be paid a $0.10 dividend. The ex-dividend date of this dividend is Thursday, September 13th. This represents a $0.40 dividend on an annualized basis and a yield of 0.88%. Air Lease’s dividend payout ratio is currently 10.96%.
Air Lease Company Profile
Air Lease Corporation, an aircraft leasing company, engages in the purchase and leasing of commercial jet transport aircraft to airlines worldwide. The company also sells aircraft from its operating lease portfolio to third parties, including other leasing companies, financial services companies, and airlines.
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