Air Lease Corp. Forecasted to Post Q3 2016 Earnings of $0.85 Per Share (AL)
Air Lease Corp. (NYSE:AL) – Stock analysts at FBR & Co cut their Q3 2016 EPS estimates for shares of Air Lease Corp. in a report released on Friday. FBR & Co analyst C. Nolan now anticipates that the firm will post earnings of $0.85 per share for the quarter, down from their previous estimate of $0.86. FBR & Co currently has a “Buy” rating and a $35.00 target price on the stock. FBR & Co also issued estimates for Air Lease Corp.’s Q4 2016 earnings at $0.84 EPS and FY2016 earnings at $3.39 EPS.
Air Lease Corp. (NYSE:AL) last posted its quarterly earnings results on Thursday, August 4th. The company reported $0.84 EPS for the quarter, beating 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 earned $350.10 million during the quarter, compared to analysts’ expectations of $349.19 million. During the same quarter last year, the firm earned $0.70 earnings per share. The business’s revenue for the quarter was up 14.9% on a year-over-year basis.
Several other equities analysts have also recently issued reports on AL. TheStreet cut Air Lease Corp. from a “buy” rating to a “hold” rating in a research report on Monday, June 13th. Zacks Investment Research upgraded Air Lease Corp. from a “hold” rating to a “buy” rating and set a $30.00 target price on the stock in a research report on Wednesday, June 29th. Two 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 stock. The stock currently has an average rating of “Buy” and an average target price of $44.44.
Shares of Air Lease Corp. (NYSE:AL) opened at 27.92 on Monday. Air Lease Corp. has a 12-month low of $22.47 and a 12-month high of $35.22. The company has a 50 day moving average price of $28.48 and a 200 day moving average price of $29.48. The firm has a market cap of $2.87 billion, a PE ratio of 8.87 and a beta of 1.63.
Large investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake 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 last quarter. Dimensional Fund Advisors LP raised its stake 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 last quarter. Boston Partners raised its stake 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 last quarter. Royce & Associates LP raised its stake 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 last quarter. Finally, Douglas Lane & Associates LLC raised its stake 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 last quarter. 90.96% of the stock is currently owned by hedge funds and other institutional investors.
The business also recently announced a quarterly dividend, which will be paid on Thursday, October 6th. Investors of record on Monday, September 12th will be paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.72%. The ex-dividend date is Thursday, September 8th. Air Lease Corp.’s payout ratio is currently 6.37%.
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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