Air Lease Corp (NYSE:AL) EVP Grant A. Levy sold 10,000 shares of the company’s stock in a transaction on Friday, March 16th. The shares were sold at an average price of $44.01, for a total transaction of $440,100.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Air Lease stock opened at $44.19 on Monday. Air Lease Corp has a 1 year low of $34.42 and a 1 year high of $50.70. The company has a debt-to-equity ratio of 2.35, a quick ratio of 1.00 and a current ratio of 1.00. The firm has a market cap of $4,579.04, a PE ratio of 12.07 and a beta of 1.74.
Air Lease (NYSE:AL) last released its quarterly earnings results on Thursday, February 22nd. The transportation company reported $1.06 earnings per share for the quarter, topping the consensus estimate of $0.87 by $0.19. Air Lease had a net margin of 49.87% and a return on equity of 10.91%. The firm had revenue of $398.47 million during the quarter, compared to the consensus estimate of $380.93 million. During the same quarter in the prior year, the firm earned $1.48 EPS. The company’s revenue for the quarter was up 7.6% on a year-over-year basis. analysts forecast that Air Lease Corp will post 4.58 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, April 6th. Investors of record on Tuesday, March 20th will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Monday, March 19th. This represents a $0.40 annualized dividend and a dividend yield of 0.91%. Air Lease’s dividend payout ratio (DPR) is presently 5.87%.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Calton & Associates Inc. acquired a new position in shares of Air Lease during the 4th quarter worth about $102,000. Zions Bancorporation acquired a new position in shares of Air Lease during the 3rd quarter worth about $114,000. Whittier Trust Co. acquired a new position in shares of Air Lease during the 4th quarter worth about $141,000. Comerica Bank acquired a new position in shares of Air Lease during the 4th quarter worth about $213,000. Finally, Parametrica Management Ltd acquired a new position in shares of Air Lease during the 4th quarter worth about $225,000. Hedge funds and other institutional investors own 90.32% of the company’s stock.
Several research firms have recently issued reports on AL. Bank of America raised shares of Air Lease from a “neutral” rating to a “buy” rating and set a $56.00 target price on the stock in a research note on Friday, March 9th. Citigroup increased their target price on shares of Air Lease from $46.00 to $53.00 and gave the stock a “buy” rating in a research note on Tuesday, February 27th. Zacks Investment Research raised shares of Air Lease from a “hold” rating to a “buy” rating and set a $55.00 target price on the stock in a research note on Tuesday, January 9th. ValuEngine lowered shares of Air Lease from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. Finally, Macquarie began coverage on shares of Air Lease in a research note on Tuesday, March 13th. They set an “outperform” rating on the stock. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and eight have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $52.05.
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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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