Air Lease Corp (AL) Receives Average Rating of “Hold” from Brokerages

Air Lease Corp (NYSE:AL) has earned a consensus recommendation of “Hold” from the twelve analysts that are covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation and six have given a buy recommendation to the company. The average 1 year target price among brokers that have covered the stock in the last year is $53.81.

AL has been the topic of a number of analyst reports. Zacks Investment Research cut shares of Air Lease from a “buy” rating to a “hold” rating in a research report on Tuesday, March 27th. Morgan Stanley lifted their target price on shares of Air Lease from $47.00 to $48.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 12th. Finally, ValuEngine cut shares of Air Lease from a “buy” rating to a “hold” rating in a research report on Wednesday, May 23rd.

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Shares of Air Lease traded up $0.84, reaching $43.85, during mid-day trading on Friday, according to MarketBeat.com. 6,003 shares of the company were exchanged, compared to its average volume of 588,971. Air Lease has a 52 week low of $38.46 and a 52 week high of $50.70. The company has a debt-to-equity ratio of 2.34, a quick ratio of 0.97 and a current ratio of 0.97. The company has a market capitalization of $4.40 billion, a P/E ratio of 11.96, a P/E/G ratio of 1.30 and a beta of 1.74.

Air Lease (NYSE:AL) last posted its quarterly earnings data on Thursday, May 10th. The transportation company reported $1.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.95 by $0.05. Air Lease had a net margin of 50.86% and a return on equity of 11.03%. The company had revenue of $381.20 million during the quarter, compared to the consensus estimate of $379.74 million. During the same period in the previous year, the firm posted $1.33 EPS. The firm’s revenue was up 5.8% compared to the same quarter last year. analysts forecast that Air Lease will post 4.51 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 10th. Investors of record on Tuesday, June 5th were given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.91%. The ex-dividend date was Monday, June 4th. Air Lease’s payout ratio is presently 10.96%.

In other Air Lease news, EVP John D. Poerschke sold 12,144 shares of the business’s stock in a transaction dated Monday, June 4th. The shares were sold at an average price of $44.98, for a total value of $546,237.12. Following the transaction, the executive vice president now owns 43,500 shares in the company, valued at $1,956,630. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Marc H. Baer sold 5,000 shares of the business’s stock in a transaction dated Thursday, June 7th. The shares were sold at an average price of $45.52, for a total transaction of $227,600.00. Following the completion of the transaction, the executive vice president now owns 132,891 shares in the company, valued at approximately $6,049,198.32. The disclosure for this sale can be found here. In the last quarter, insiders sold 44,144 shares of company stock worth $1,990,187. 9.32% of the stock is owned by corporate insiders.

Several hedge funds have recently added to or reduced their stakes in the business. Boston Partners boosted its stake in shares of Air Lease by 2.9% during the 1st quarter. Boston Partners now owns 8,555,116 shares of the transportation company’s stock valued at $364,619,000 after purchasing an additional 239,216 shares in the last quarter. BlackRock Inc. boosted its stake in shares of Air Lease by 1.4% during the 1st quarter. BlackRock Inc. now owns 4,024,171 shares of the transportation company’s stock valued at $171,509,000 after purchasing an additional 54,450 shares in the last quarter. Northern Trust Corp boosted its stake in shares of Air Lease by 1.0% during the 1st quarter. Northern Trust Corp now owns 1,127,392 shares of the transportation company’s stock valued at $48,050,000 after purchasing an additional 11,507 shares in the last quarter. Klingenstein Fields & Co. LLC boosted its stake in shares of Air Lease by 3.0% during the 1st quarter. Klingenstein Fields & Co. LLC now owns 868,182 shares of the transportation company’s stock valued at $37,002,000 after purchasing an additional 24,993 shares in the last quarter. Finally, Cooke & Bieler LP boosted its stake in shares of Air Lease by 4.6% during the 1st quarter. Cooke & Bieler LP now owns 588,900 shares of the transportation company’s stock valued at $25,099,000 after purchasing an additional 25,720 shares in the last quarter. Hedge funds and other institutional investors own 84.98% of the company’s stock.

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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