Wall Street analysts predict that Air Lease Corp (NYSE:AL) will announce $466.11 million in sales for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for Air Lease’s earnings. The highest sales estimate is $513.35 million and the lowest is $418.87 million. Air Lease reported sales of $471.40 million in the same quarter last year, which would suggest a negative year over year growth rate of 1.1%. The firm is expected to announce its next earnings report on Thursday, August 13th.
On average, analysts expect that Air Lease will report full-year sales of $1.98 billion for the current fiscal year, with estimates ranging from $1.85 billion to $2.11 billion. For the next year, analysts forecast that the business will post sales of $2.31 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Air Lease.
Air Lease (NYSE:AL) last issued its quarterly earnings data on Thursday, May 7th. The transportation company reported $1.17 earnings per share for the quarter, missing analysts’ consensus estimates of $1.28 by ($0.11). Air Lease had a net margin of 28.42% and a return on equity of 10.60%. The company had revenue of $511.39 million for the quarter, compared to the consensus estimate of $526.71 million. During the same period in the previous year, the business earned $1.67 EPS. Air Lease’s revenue for the quarter was up 9.7% compared to the same quarter last year.
AL has been the subject of a number of research analyst reports. Barclays reiterated a “buy” rating and issued a $29.00 price target on shares of Air Lease in a research note on Wednesday, March 18th. Credit Suisse Group restated a “buy” rating and issued a $38.00 price objective on shares of Air Lease in a research note on Friday, May 8th. Deutsche Bank reduced their price objective on Air Lease from $45.00 to $36.00 and set a “buy” rating for the company in a research note on Monday, May 11th. ValuEngine cut Air Lease from a “sell” rating to a “strong sell” rating in a research note on Friday, April 17th. Finally, TheStreet cut Air Lease from a “b-” rating to a “c” rating in a research note on Monday, March 16th. Two equities research analysts have rated the stock with a sell rating and four have assigned a buy rating to the stock. Air Lease currently has a consensus rating of “Hold” and a consensus target price of $39.40.
In other news, Director Jie Chen sold 40,000 shares of Air Lease stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $29.00, for a total value of $1,160,000.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Marshall O. Larsen purchased 5,000 shares of the stock in a transaction dated Tuesday, May 12th. The stock was purchased at an average cost of $24.36 per share, for a total transaction of $121,800.00. The disclosure for this purchase can be found here. 6.88% of the stock is currently owned by company insiders.
Institutional investors have recently made changes to their positions in the stock. Ancora Advisors LLC purchased a new position in Air Lease during the fourth quarter worth approximately $38,000. Citizens Financial Group Inc RI lifted its position in Air Lease by 65.0% during the first quarter. Citizens Financial Group Inc RI now owns 1,259 shares of the transportation company’s stock worth $28,000 after buying an additional 496 shares in the last quarter. Stephenson National Bank & Trust purchased a new position in Air Lease during the fourth quarter worth approximately $119,000. Ameritas Investment Company LLC purchased a new position in Air Lease during the first quarter worth approximately $50,000. Finally, Pearl River Capital LLC purchased a new stake in Air Lease in the first quarter valued at $69,000. Hedge funds and other institutional investors own 91.44% of the company’s stock.
Air Lease stock opened at $29.40 on Tuesday. The stock has a 50-day moving average of $29.24 and a two-hundred day moving average of $34.35. The company has a debt-to-equity ratio of 2.51, a quick ratio of 1.53 and a current ratio of 1.53. Air Lease has a one year low of $8.41 and a one year high of $49.96. The stock has a market cap of $3.18 billion, a PE ratio of 5.84, a price-to-earnings-growth ratio of 2.31 and a beta of 2.05.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 9th. Shareholders of record on Friday, June 5th will be issued a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 2.04%. The ex-dividend date is Thursday, June 4th. Air Lease’s payout ratio is currently 11.79%.
About Air Lease
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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