Other equities analysts have also recently issued research reports about the company. Zacks Investment Research upgraded Air Lease Corp. from a hold rating to a buy rating and set a $30.00 price objective for the company in a research note on Wednesday, June 29th. Morgan Stanley reiterated a buy rating on shares of Air Lease Corp. in a research note on Sunday, May 22nd. Finally, TheStreet lowered Air Lease Corp. from a buy rating to a hold rating in a research report on Monday, June 13th. Two equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of Buy and an average target price of $44.44.
Shares of Air Lease Corp. (NYSE:AL) opened at 27.90 on Monday. The firm has a 50-day moving average price of $28.43 and a 200 day moving average price of $29.43. Air Lease Corp. has a 52-week low of $22.47 and a 52-week high of $35.22. The stock has a market cap of $2.87 billion, a price-to-earnings ratio of 8.86 and a beta of 1.63.
Air Lease Corp. (NYSE:AL) last announced its quarterly earnings data on Thursday, August 4th. The company reported $0.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.82 by $0.02. The business earned $350.10 million during the quarter, compared to analysts’ expectations of $349.19 million. Air Lease Corp. had a return on equity of 14.72% and a net margin of 25.70%. The business’s quarterly revenue was up 14.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.70 EPS. Analysts expect that Air Lease Corp. will post $3.39 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, October 6th. Stockholders of record on Monday, September 12th will be issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.72%. The ex-dividend date is Thursday, September 8th. Air Lease Corp.’s payout ratio is currently 6.37%.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Royal Bank of Canada increased its stake in Air Lease Corp. by 6.8% in the first quarter. Royal Bank of Canada now owns 1,214,028 shares of the company’s stock worth $38,994,000 after buying an additional 77,352 shares during the period. AMP Capital Investors Ltd acquired a new stake in Air Lease Corp. during the first quarter worth $3,239,000. Teachers Advisors Inc. increased its stake in Air Lease Corp. by 51.6% in the first quarter. Teachers Advisors Inc. now owns 125,769 shares of the company’s stock worth $4,040,000 after buying an additional 42,821 shares during the period. BlackRock Group LTD increased its stake in Air Lease Corp. by 2.0% in the first quarter. BlackRock Group LTD now owns 129,009 shares of the company’s stock worth $4,143,000 after buying an additional 2,502 shares during the period. Finally, Sensato Investors LLC increased its stake in Air Lease Corp. by 25.8% in the first quarter. Sensato Investors LLC now owns 416,200 shares of the company’s stock worth $13,368,000 after buying an additional 85,400 shares during the period. 91.53% of the stock is currently owned by institutional investors and hedge funds.
Air Lease Corp. Company Profile
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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