Air Lease Corp (NYSE:AL) declared a quarterly dividend on Thursday, November 8th, Zacks reports. Investors of record on Thursday, December 13th will be paid a dividend of 0.13 per share by the transportation company on Wednesday, January 9th. This represents a $0.52 dividend on an annualized basis and a yield of 1.40%. The ex-dividend date of this dividend is Wednesday, December 12th. This is a positive change from Air Lease’s previous quarterly dividend of $0.10.
Air Lease has raised its dividend by an average of 35.7% per year over the last three years and has raised its dividend annually for the last 4 consecutive years. Air Lease has a dividend payout ratio of 11.6% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Air Lease to earn $5.48 per share next year, which means the company should continue to be able to cover its $0.52 annual dividend with an expected future payout ratio of 9.5%.
Shares of AL stock opened at $37.08 on Friday. The firm has a market capitalization of $3.95 billion, a P/E ratio of 10.16, a PEG ratio of 0.98 and a beta of 1.83. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 2.48. Air Lease has a 1 year low of $35.97 and a 1 year high of $50.70.
Air Lease (NYSE:AL) last issued its earnings results on Thursday, November 8th. The transportation company reported $1.32 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.23 by $0.09. The company had revenue of $450.70 million during the quarter, compared to analyst estimates of $443.01 million. Air Lease had a return on equity of 11.44% and a net margin of 51.81%. The firm’s quarterly revenue was up 19.6% on a year-over-year basis. During the same quarter last year, the business posted $1.50 EPS. Analysts forecast that Air Lease will post 4.56 EPS for the current fiscal year.
A number of brokerages recently issued reports on AL. Zacks Investment Research lowered Air Lease from a “buy” rating to a “hold” rating in a research note on Thursday. Cowen restated a “buy” rating and issued a $54.00 target price on shares of Air Lease in a research note on Friday, November 30th. Morgan Stanley reduced their target price on Air Lease from $47.00 to $45.00 and set an “equal weight” rating for the company in a research note on Wednesday, November 14th. ValuEngine lowered Air Lease from a “hold” rating to a “sell” rating in a research note on Thursday, November 1st. Finally, Seaport Global Securities began coverage on Air Lease in a research note on Wednesday, October 10th. They issued a “buy” rating for the company. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $54.45.
In other Air Lease news, EVP Grant A. Levy sold 15,000 shares of Air Lease stock in a transaction dated Thursday, September 13th. The stock was sold at an average price of $45.13, for a total transaction of $676,950.00. Following the completion of the transaction, the executive vice president now owns 153,399 shares in the company, valued at approximately $6,922,896.87. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 9.32% of the company’s stock.
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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.
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