Air Lease (NYSE:AL) Releases Earnings Results, Beats Estimates By $0.74 EPS

Air Lease (NYSE:AL) announced its earnings results on Thursday. The transportation company reported $2.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.46 by $0.74, FiscalAI reports. The business had revenue of $679.54 million for the quarter, compared to analyst estimates of $782.67 million. Air Lease had a return on equity of 7.84% and a net margin of 35.08%.

Air Lease Stock Performance

AL stock traded down $0.03 during trading hours on Thursday, hitting $64.68. 2,262,263 shares of the stock were exchanged, compared to its average volume of 1,515,301. Air Lease has a 12 month low of $38.25 and a 12 month high of $64.74. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 2.42. The firm has a market capitalization of $7.23 billion, a P/E ratio of 7.49, a P/E/G ratio of 0.56 and a beta of 1.13. The company has a 50-day simple moving average of $64.29 and a two-hundred day simple moving average of $62.79.

Wall Street Analysts Forecast Growth

AL has been the subject of a number of recent research reports. Barclays restated an “equal weight” rating and set a $65.00 price objective (down from $68.00) on shares of Air Lease in a research note on Tuesday, January 6th. Zacks Research upgraded Air Lease from a “strong sell” rating to a “hold” rating in a research note on Monday, January 5th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Air Lease in a research note on Wednesday, January 21st. Three investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Air Lease currently has a consensus rating of “Hold” and a consensus target price of $59.17.

Insider Buying and Selling

In related news, EVP Kishore Korde sold 30,160 shares of the stock in a transaction that occurred on Tuesday, November 25th. The stock was sold at an average price of $63.90, for a total transaction of $1,927,224.00. Following the sale, the executive vice president owned 79,263 shares of the company’s stock, valued at $5,064,905.70. This represents a 27.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO John L. Plueger sold 155,821 shares of Air Lease stock in a transaction on Tuesday, December 9th. The shares were sold at an average price of $64.03, for a total value of $9,977,218.63. Following the completion of the transaction, the chief executive officer directly owned 725,941 shares of the company’s stock, valued at $46,482,002.23. This represents a 17.67% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 692,185 shares of company stock valued at $44,301,155. 6.64% of the stock is owned by company insiders.

Hedge Funds Weigh In On Air Lease

Hedge funds and other institutional investors have recently modified their holdings of the business. Los Angeles Capital Management LLC bought a new stake in shares of Air Lease during the 4th quarter worth $32,000. IFP Advisors Inc bought a new position in shares of Air Lease in the third quarter worth about $38,000. Geneos Wealth Management Inc. boosted its stake in shares of Air Lease by 264.1% in the 1st quarter. Geneos Wealth Management Inc. now owns 892 shares of the transportation company’s stock valued at $43,000 after purchasing an additional 647 shares in the last quarter. PenderFund Capital Management Ltd. bought a new stake in shares of Air Lease during the 3rd quarter valued at approximately $59,000. Finally, Headlands Technologies LLC acquired a new position in Air Lease during the 2nd quarter worth approximately $70,000. Institutional investors own 94.59% of the company’s stock.

Air Lease Company Profile

Air Lease Corporation (NYSE: AL) is a leading aircraft leasing company that acquires commercial jet aircraft and leases them to airlines worldwide. The firm’s core business activities include direct aircraft acquisition, lease management and portfolio remarketing. By structuring sale‐and‐leaseback transactions, operating leases and secured loans, Air Lease provides flexible financing solutions that enable carriers to modernize their fleets without committing large amounts of capital to ownership.

Founded in 2010 and headquartered in Los Angeles, Air Lease Corporation serves a diverse customer base spanning North America, Europe, Asia, Latin America and the Middle East.