Wall Street analysts forecast that Air Lease Corp (NYSE:AL) will report earnings of $1.26 per share for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for Air Lease’s earnings, with the highest EPS estimate coming in at $1.29 and the lowest estimate coming in at $1.23. Air Lease posted earnings per share of $0.90 during the same quarter last year, which indicates a positive year over year growth rate of 40%. The business is expected to issue its next quarterly earnings report after the market closes on Thursday, November 8th.

According to Zacks, analysts expect that Air Lease will report full year earnings of $5.09 per share for the current year, with EPS estimates ranging from $4.82 to $5.36. For the next financial year, analysts anticipate that the business will post earnings of $5.96 per share, with EPS estimates ranging from $5.78 to $6.14. Zacks’ earnings per share averages are an average based on a survey of research firms that follow Air Lease.

Air Lease (NYSE:AL) last posted its quarterly earnings data on Thursday, August 9th. The transportation company reported $1.04 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $1.04. The company had revenue of $397.80 million during the quarter, compared to analysts’ expectations of $400.11 million. Air Lease had a net margin of 51.22% and a return on equity of 10.85%. The firm’s revenue for the quarter was up 4.4% on a year-over-year basis. During the same period in the prior year, the business posted $1.51 earnings per share.

A number of equities analysts have weighed in on AL shares. Zacks Investment Research cut shares of Air Lease from a “hold” rating to a “sell” rating in a research report on Monday, August 6th. ValuEngine cut shares of Air Lease from a “hold” rating to a “sell” rating in a research report on Tuesday, August 7th. Royal Bank of Canada upped their price objective on shares of Air Lease from $91.00 to $93.00 and gave the stock a “top pick” rating in a research report on Friday, August 10th. Compass Point reaffirmed a “buy” rating and set a $58.00 target price on shares of Air Lease in a report on Sunday, August 12th. Finally, Seaport Global Securities initiated coverage on shares of Air Lease in a report on Wednesday, October 10th. They set a “buy” rating for the company. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. Air Lease currently has an average rating of “Buy” and a consensus price target of $55.85.

In related news, EVP Marc H. Baer sold 10,000 shares of the company’s stock in a transaction dated Tuesday, August 21st. The shares were sold at an average price of $46.22, for a total value of $462,200.00. Following the completion of the sale, the executive vice president now owns 122,891 shares of the company’s stock, valued at $5,680,022.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Grant A. Levy sold 15,000 shares of the company’s stock in a transaction dated Thursday, September 13th. The shares were sold at an average price of $45.13, for a total transaction of $676,950.00. Following the completion of the sale, the executive vice president now directly owns 153,399 shares of the company’s stock, valued at approximately $6,922,896.87. The disclosure for this sale can be found here. Insiders have sold 31,000 shares of company stock valued at $1,420,550 in the last ninety days. Insiders own 9.32% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Boston Partners grew its holdings in shares of Air Lease by 2.0% in the second quarter. Boston Partners now owns 8,730,004 shares of the transportation company’s stock valued at $366,398,000 after purchasing an additional 174,888 shares during the period. BlackRock Inc. grew its holdings in shares of Air Lease by 1.4% in the first quarter. BlackRock Inc. now owns 4,024,171 shares of the transportation company’s stock valued at $171,509,000 after purchasing an additional 54,450 shares during the period. FMR LLC grew its holdings in shares of Air Lease by 5.4% in the second quarter. FMR LLC now owns 3,490,348 shares of the transportation company’s stock valued at $146,490,000 after purchasing an additional 178,070 shares during the period. Royce & Associates LP grew its holdings in shares of Air Lease by 39.4% in the second quarter. Royce & Associates LP now owns 2,411,208 shares of the transportation company’s stock valued at $101,198,000 after purchasing an additional 681,987 shares during the period. Finally, Cannell Peter B & Co. Inc. grew its holdings in shares of Air Lease by 122.4% in the second quarter. Cannell Peter B & Co. Inc. now owns 1,435,691 shares of the transportation company’s stock valued at $60,256,000 after purchasing an additional 790,105 shares during the period. 86.49% of the stock is owned by hedge funds and other institutional investors.

NYSE:AL traded down $0.13 during trading hours on Thursday, reaching $39.85. 22,374 shares of the company were exchanged, compared to its average volume of 568,064. The company has a debt-to-equity ratio of 2.53, a quick ratio of 0.85 and a current ratio of 0.85. The stock has a market capitalization of $4.34 billion, a PE ratio of 10.90, a P/E/G ratio of 1.09 and a beta of 1.78. Air Lease has a twelve month low of $39.85 and a twelve month high of $50.70.

The firm also recently announced a quarterly dividend, which was paid on Friday, October 5th. Stockholders of record on Friday, September 14th were issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.00%. The ex-dividend date was Thursday, September 13th. Air Lease’s payout ratio is 10.96%.

Air Lease Company Profile

Air Lease Corporation, an aircraft leasing company, engages in the purchase and leasing of commercial jet transport aircraft to airlines worldwide. The company also sells aircraft from its operating lease portfolio to third parties, including other leasing companies, financial services companies, and airlines.

See Also: Compound Annual Growth Rate (CAGR)

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Earnings History and Estimates for Air Lease (NYSE:AL)

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