Air Lease (AL) Hits New 1-Year High at $45.43
Air Lease Corp (NYSE:AL)’s share price hit a new 52-week high during trading on Friday . The company traded as high as $45.43 and last traded at $44.73, with a volume of 924600 shares changing hands. The stock had previously closed at $45.08.
A number of equities analysts have recently commented on the stock. Citigroup started coverage on shares of Air Lease in a report on Friday, December 8th. They issued a “neutral” rating and a $46.00 target price on the stock. ValuEngine cut shares of Air Lease from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. Zacks Investment Research raised shares of Air Lease from a “sell” rating to a “hold” rating in a research note on Wednesday, November 15th. Cowen boosted their price objective on shares of Air Lease from $45.00 to $54.00 and gave the company an “outperform” rating in a research note on Friday, November 10th. Finally, Credit Suisse Group boosted their price objective on shares of Air Lease from $44.00 to $46.00 and gave the company an “outperform” rating in a research note on Friday, November 10th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $48.50.
The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 2.53. The firm has a market cap of $4,730.00, a PE ratio of 12.82, a P/E/G ratio of 1.35 and a beta of 1.82.
Air Lease (NYSE:AL) last released its quarterly earnings data on Thursday, November 9th. The transportation company reported $0.90 EPS for the quarter, topping the consensus estimate of $0.87 by $0.03. Air Lease had a net margin of 25.67% and a return on equity of 10.87%. The business had revenue of $376.77 million for the quarter, compared to analyst estimates of $374.61 million. During the same period in the previous year, the firm earned $1.43 EPS. The business’s revenue for the quarter was up 6.1% compared to the same quarter last year. equities analysts forecast that Air Lease Corp will post 3.44 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 4th. Investors of record on Thursday, December 14th will be given a $0.10 dividend. The ex-dividend date of this dividend is Wednesday, December 13th. This is a positive change from Air Lease’s previous quarterly dividend of $0.08. This represents a $0.40 annualized dividend and a dividend yield of 0.87%. Air Lease’s payout ratio is currently 11.49%.
In other Air Lease news, EVP Jie Chen sold 4,000 shares of the company’s stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $43.00, for a total value of $172,000.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO John L. Plueger sold 300,000 shares of the company’s stock in a transaction dated Wednesday, November 15th. The shares were sold at an average price of $41.34, for a total transaction of $12,402,000.00. Following the completion of the transaction, the chief executive officer now owns 1,057,310 shares in the company, valued at $43,709,195.40. The disclosure for this sale can be found here. Insiders sold a total of 379,000 shares of company stock worth $15,919,270 over the last quarter. Insiders own 9.76% of the company’s stock.
Large investors have recently added to or reduced their stakes in the business. SLS Management LLC purchased a new position in Air Lease in the 2nd quarter valued at about $1,535,000. Nationwide Fund Advisors lifted its holdings in Air Lease by 45.4% in the 2nd quarter. Nationwide Fund Advisors now owns 33,684 shares of the transportation company’s stock valued at $1,258,000 after purchasing an additional 10,517 shares in the last quarter. Prudential Financial Inc. lifted its holdings in Air Lease by 18.9% in the 3rd quarter. Prudential Financial Inc. now owns 255,979 shares of the transportation company’s stock valued at $10,910,000 after purchasing an additional 40,769 shares in the last quarter. NGAM Advisors L.P. lifted its holdings in Air Lease by 2.4% in the 2nd quarter. NGAM Advisors L.P. now owns 18,717 shares of the transportation company’s stock valued at $699,000 after purchasing an additional 447 shares in the last quarter. Finally, Zweig DiMenna Associates LLC lifted its holdings in Air Lease by 90.4% in the 3rd quarter. Zweig DiMenna Associates LLC now owns 156,913 shares of the transportation company’s stock valued at $6,688,000 after purchasing an additional 74,500 shares in the last quarter. Institutional investors own 91.87% of the company’s stock.
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Air Lease 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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