Air Lease (AL) Hits New 1-Year High at $49.43
Air Lease Corp (NYSE:AL)’s share price reached a new 52-week high on Monday . The stock traded as high as $49.43 and last traded at $48.45, with a volume of 519700 shares trading hands. The stock had previously closed at $47.96.
Several research firms have weighed in on AL. ValuEngine lowered Air Lease from a “buy” rating to a “hold” rating in a report on Sunday, December 31st. Citigroup began coverage on Air Lease in a report on Friday, December 8th. They set a “neutral” rating and a $46.00 target price on the stock. Zacks Investment Research upgraded Air Lease from a “sell” rating to a “hold” rating in a report on Wednesday, November 15th. Credit Suisse Group raised their target price on Air Lease from $44.00 to $46.00 and gave the company an “outperform” rating in a report on Friday, November 10th. Finally, UBS Group raised their target price on Air Lease from $30.00 to $31.00 and gave the company a “sell” rating in a report on Friday, November 10th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $48.78.
The company has a market capitalization of $5,080.00, a PE ratio of 13.92, a price-to-earnings-growth ratio of 1.27 and a beta of 1.81. The company has a debt-to-equity ratio of 2.53, a current ratio of 1.06 and a quick ratio of 1.06.
Air Lease (NYSE:AL) last released its quarterly earnings data on Thursday, November 9th. The transportation company reported $0.90 earnings per share for the quarter, beating analysts’ consensus estimates of $0.87 by $0.03. The company had revenue of $376.77 million for the quarter, compared to the consensus estimate of $374.61 million. Air Lease had a return on equity of 10.87% and a net margin of 25.67%. The company’s quarterly revenue was up 6.1% on a year-over-year basis. During the same period in the previous year, the business earned $1.43 earnings per share. equities analysts forecast that Air Lease Corp will post 3.45 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 4th. Shareholders of record on Thursday, December 14th were issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.83%. This is an increase from Air Lease’s previous quarterly dividend of $0.08. The ex-dividend date was Wednesday, December 13th. Air Lease’s payout ratio is presently 11.49%.
In other news, EVP Kishore Korde sold 2,000 shares of Air Lease stock in a transaction that occurred on Wednesday, November 15th. The shares were sold at an average price of $40.80, for a total value of $81,600.00. Following the completion of the transaction, the executive vice president now owns 84,410 shares in the company, valued at $3,443,928. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO John L. Plueger sold 300,000 shares of Air Lease stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $43,709,195.40. The disclosure for this sale can be found here. Insiders have sold 379,000 shares of company stock worth $15,939,110 over the last ninety days. Company insiders own 9.76% of the company’s stock.
A number of hedge funds have recently bought and sold shares of the stock. QS Investors LLC raised its position in Air Lease by 0.6% in the 2nd quarter. QS Investors LLC now owns 3,464 shares of the transportation company’s stock worth $129,000 after purchasing an additional 21 shares during the last quarter. Suntrust Banks Inc. raised its position in Air Lease by 0.9% in the 2nd quarter. Suntrust Banks Inc. now owns 12,844 shares of the transportation company’s stock worth $479,000 after purchasing an additional 119 shares during the last quarter. Advisory Services Network LLC raised its position in Air Lease by 0.8% in the 2nd quarter. Advisory Services Network LLC now owns 23,589 shares of the transportation company’s stock worth $881,000 after purchasing an additional 198 shares during the last quarter. Utah Retirement Systems raised its position in Air Lease by 1.1% in the 2nd quarter. Utah Retirement Systems now owns 17,635 shares of the transportation company’s stock worth $659,000 after purchasing an additional 200 shares during the last quarter. Finally, Israel Discount Bank of New York raised its position in Air Lease by 7.7% in the 2nd quarter. Israel Discount Bank of New York now owns 2,785 shares of the transportation company’s stock worth $104,000 after purchasing an additional 200 shares during the last quarter. Hedge funds and other institutional investors own 91.83% of the company’s stock.
About Air Lease
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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