Air Lease (NYSE:AL) released its earnings results on Thursday. The transportation company reported $1.06 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.87 by $0.19, Bloomberg Earnings reports. Air Lease had a net margin of 25.67% and a return on equity of 10.87%. The company had revenue of $398.47 million for the quarter, compared to the consensus estimate of $380.93 million. During the same quarter in the previous year, the company earned $1.48 EPS. Air Lease’s quarterly revenue was up 7.6% compared to the same quarter last year.
Air Lease (NYSE AL) traded up $0.20 on Thursday, reaching $45.71. 973,330 shares of the company’s stock traded hands, compared to its average volume of 634,028. The company has a debt-to-equity ratio of 2.53, a quick ratio of 1.06 and a current ratio of 1.06. Air Lease has a 1 year low of $34.42 and a 1 year high of $50.70. The firm has a market capitalization of $4,720.00, a P/E ratio of 13.14, a price-to-earnings-growth ratio of 0.72 and a beta of 1.70.
In other news, Director Jie Chen sold 4,000 shares of the stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $48.81, for a total value of $195,240.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Marc H. Baer sold 5,000 shares of the stock in a transaction dated Monday, December 4th. The shares were sold at an average price of $44.13, for a total transaction of $220,650.00. Following the completion of the sale, the executive vice president now owns 127,001 shares of the company’s stock, valued at approximately $5,604,554.13. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 81,000 shares of company stock worth $3,661,430. Corporate insiders own 9.76% of the company’s stock.
A number of research analysts recently issued reports on AL shares. Royal Bank of Canada reiterated a “buy” rating and set a $80.00 target price on shares of Air Lease in a research report on Thursday, November 2nd. UBS Group boosted their target price on shares of Air Lease from $30.00 to $31.00 and gave the company a “sell” rating in a research report on Friday, November 10th. Zacks Investment Research downgraded shares of Air Lease from a “hold” rating to a “sell” rating in a research report on Thursday, November 9th. Citigroup started coverage on shares of Air Lease in a research report on Friday, December 8th. They set a “neutral” rating and a $46.00 target price on the stock. Finally, ValuEngine downgraded shares of Air Lease from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. One analyst has rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $49.50.
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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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