According to Zacks, “Air Lease Corporation is an aircraft leasing company principally engaged in purchasing commercial aircraft and leasing to airlines around the world. The Company provides leasing services in Asia, the Pacific Rim, Latin America, the Middle East and Eastern Europe. Air Lease Corporation is based in Los Angeles, California. “
Other research analysts also recently issued research reports about the company. FBR & Co cut their price target on Air Lease Corp. from $40.00 to $37.00 and set an outperform rating on the stock in a research note on Friday, August 5th. TheStreet downgraded Air Lease Corp. from a buy rating to a hold rating in a research note on Monday, June 13th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of Buy and an average price target of $44.44.
Shares of Air Lease Corp. (NYSE:AL) traded down 1.10% on Monday, hitting $29.65. The stock had a trading volume of 30,955 shares. Air Lease Corp. has a one year low of $22.47 and a one year high of $35.22. The firm has a 50 day moving average price of $28.61 and a 200 day moving average price of $29.12. The company has a market capitalization of $3.05 billion, a P/E ratio of 9.42 and a beta of 1.59.
Air Lease Corp. (NYSE:AL) last posted its quarterly earnings data on Thursday, August 4th. The company reported $0.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.82 by $0.02. Air Lease Corp. had a return on equity of 14.72% and a net margin of 25.70%. The firm had revenue of $350.10 million for the quarter, compared to the consensus estimate of $349.19 million. During the same quarter in the prior year, the business earned $0.70 EPS. The business’s revenue for the quarter was up 14.9% compared to the same quarter last year. On average, equities research analysts predict that Air Lease Corp. will post $3.39 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 6th. Investors of record on Monday, September 12th were given a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.67%. The ex-dividend date was Thursday, September 8th. Air Lease Corp.’s dividend payout ratio is currently 6.37%.
Institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in Air Lease Corp. by 4.2% in the second quarter. Vanguard Group Inc. now owns 6,884,315 shares of the company’s stock worth $184,363,000 after buying an additional 274,550 shares during the period. Dimensional Fund Advisors LP boosted its position in Air Lease Corp. by 20.9% in the second quarter. Dimensional Fund Advisors LP now owns 3,625,297 shares of the company’s stock worth $97,082,000 after buying an additional 626,227 shares during the period. Boston Partners boosted its position in Air Lease Corp. by 84.8% in the second quarter. Boston Partners now owns 2,139,606 shares of the company’s stock worth $57,299,000 after buying an additional 982,056 shares during the period. Royce & Associates LP boosted its position in Air Lease Corp. by 30.4% in the first quarter. Royce & Associates LP now owns 1,921,521 shares of the company’s stock worth $61,719,000 after buying an additional 448,061 shares during the period. Finally, Douglas Lane & Associates LLC boosted its position in Air Lease Corp. by 17.2% in the second quarter. Douglas Lane & Associates LLC now owns 1,777,858 shares of the company’s stock worth $47,611,000 after buying an additional 260,841 shares during the period. Hedge funds and other institutional investors own 91.53% of the company’s stock.
About Air Lease Corp.
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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