Brokerages expect Air Lease Corp (NYSE:AL) to announce sales of $404.30 million for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for Air Lease’s earnings, with estimates ranging from $400.47 million to $408.13 million. Air Lease posted sales of $380.96 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 6.1%. The business is expected to announce its next earnings results on Thursday, August 2nd.
On average, analysts expect that Air Lease will report full year sales of $1.68 billion for the current fiscal year, with estimates ranging from $1.68 billion to $1.69 billion. For the next year, analysts forecast that the company will report sales of $2.12 billion per share, with estimates ranging from $2.08 billion to $2.14 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for Air Lease.
Air Lease (NYSE:AL) last posted its earnings results on Thursday, May 10th. The transportation company reported $1.00 earnings per share for the quarter, topping analysts’ consensus estimates of $0.95 by $0.05. The firm had revenue of $381.20 million for the quarter, compared to analysts’ expectations of $379.74 million. Air Lease had a net margin of 50.86% and a return on equity of 11.03%. The company’s revenue was up 5.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.33 earnings per share.
A number of research firms have weighed in on AL. Citigroup boosted their target price on shares of Air Lease from $46.00 to $53.00 and gave the stock a “buy” rating in a research note on Tuesday, February 27th. ValuEngine cut shares of Air Lease from a “buy” rating to a “hold” rating in a research note on Wednesday, May 23rd. Macquarie started coverage on shares of Air Lease in a research note on Tuesday, March 13th. They issued an “outperform” rating on the stock. JPMorgan Chase & Co. boosted their price objective on shares of Air Lease from $48.00 to $54.50 and gave the stock an “overweight” rating in a research note on Tuesday, March 6th. Finally, Bank of America raised shares of Air Lease from a “neutral” rating to a “buy” rating and set a $56.00 price objective on the stock in a research note on Friday, March 9th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $53.35.
Shares of Air Lease traded up $0.31, reaching $42.57, during midday trading on Thursday, according to Marketbeat Ratings. 1,088,486 shares of the company were exchanged, compared to its average volume of 547,053. The stock has a market cap of $4.39 billion, a PE ratio of 11.66, a PEG ratio of 1.29 and a beta of 1.73. Air Lease has a one year low of $36.27 and a one year 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 firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 10th. Investors of record on Tuesday, June 5th will be paid a $0.10 dividend. The ex-dividend date is Monday, June 4th. This represents a $0.40 annualized dividend and a dividend yield of 0.94%. Air Lease’s dividend payout ratio is 10.96%.
In related news, EVP John D. Poerschke sold 12,144 shares of the business’s stock in a transaction on 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 document filed with the SEC, which is available through this link. Also, EVP Marc H. Baer sold 5,000 shares of the business’s stock in a transaction on 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 three months, insiders sold 44,144 shares of company stock worth $1,990,187. 9.32% of the stock is currently owned by insiders.
Hedge funds have recently added to or reduced their stakes in the stock. Teacher Retirement System of Texas lifted its holdings in Air Lease by 312.7% in the fourth quarter. Teacher Retirement System of Texas now owns 33,492 shares of the transportation company’s stock valued at $1,611,000 after buying an additional 25,377 shares during the period. Comerica Bank acquired a new position in Air Lease in the fourth quarter valued at $213,000. UBS Asset Management Americas Inc. lifted its holdings in Air Lease by 1.5% in the fourth quarter. UBS Asset Management Americas Inc. now owns 103,767 shares of the transportation company’s stock valued at $4,990,000 after buying an additional 1,521 shares during the period. Brown Advisory Inc. acquired a new position in Air Lease in the fourth quarter valued at $258,000. Finally, Schroder Investment Management Group acquired a new position in Air Lease in the fourth quarter valued at $1,138,000. Institutional investors and hedge funds 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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