Analysts expect Air Lease Corp (NYSE:AL) to post sales of $536.30 million for the current fiscal quarter, Zacks Investment Research reports. Three analysts have made estimates for Air Lease’s earnings, with estimates ranging from $512.70 million to $548.74 million. Air Lease reported sales of $449.98 million in the same quarter last year, which would suggest a positive year over year growth rate of 19.2%. The firm is expected to issue its next quarterly earnings results on Thursday, February 20th.
According to Zacks, analysts expect that Air Lease will report full-year sales of $2.00 billion for the current financial year, with estimates ranging from $1.98 billion to $2.02 billion. For the next financial year, analysts forecast that the firm will report sales of $2.52 billion, with estimates ranging from $2.35 billion to $2.64 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research analysts that cover Air Lease.
Air Lease (NYSE:AL) last released its quarterly earnings data on Thursday, November 7th. The transportation company reported $1.34 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.29 by $0.05. The firm had revenue of $531.00 million during the quarter, compared to analysts’ expectations of $525.63 million. Air Lease had a return on equity of 10.81% and a net margin of 29.22%. Air Lease’s revenue was up 17.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.73 earnings per share.
Separately, ValuEngine cut Air Lease from a “hold” rating to a “sell” rating in a research report on Tuesday, October 29th. Two research analysts have rated the stock with a sell rating and two have issued a buy rating to the company. Air Lease has an average rating of “Hold” and a consensus target price of $48.00.
NYSE:AL traded down $0.25 during trading hours on Friday, hitting $47.20. The company’s stock had a trading volume of 564,964 shares, compared to its average volume of 477,415. The business’s 50-day moving average is $45.71 and its two-hundred day moving average is $41.86. The company has a market capitalization of $5.35 billion, a PE ratio of 9.66, a PEG ratio of 1.03 and a beta of 1.87. The company has a debt-to-equity ratio of 2.52, a quick ratio of 0.80 and a current ratio of 0.80. Air Lease has a 52-week low of $28.13 and a 52-week high of $47.89.
The company also recently declared a quarterly dividend, which will be paid on Monday, January 6th. Stockholders of record on Friday, December 20th will be given a $0.15 dividend. The ex-dividend date of this dividend is Thursday, December 19th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.27%. This is a boost from Air Lease’s previous quarterly dividend of $0.13. Air Lease’s dividend payout ratio (DPR) is currently 11.30%.
In other news, Chairman Steven F. Udvar-Hazy sold 220,371 shares of the firm’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $44.93, for a total value of $9,901,269.03. Following the completion of the transaction, the chairman now owns 1,268,198 shares in the company, valued at $56,980,136.14. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Carol Hyland Forsyte sold 10,691 shares of the firm’s stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $45.64, for a total value of $487,937.24. Following the completion of the transaction, the executive vice president now owns 41,656 shares of the company’s stock, valued at approximately $1,901,179.84. The disclosure for this sale can be found here. In the last 90 days, insiders sold 378,950 shares of company stock valued at $17,129,296. Company insiders own 8.76% of the company’s stock.
Hedge funds have recently made changes to their positions in the company. Parallel Advisors LLC increased its position in shares of Air Lease by 1,196.6% in the second quarter. Parallel Advisors LLC now owns 765 shares of the transportation company’s stock valued at $32,000 after buying an additional 706 shares in the last quarter. Johnson Financial Group Inc. purchased a new stake in Air Lease during the 2nd quarter worth about $32,000. Permanens Capital L.P. increased its position in Air Lease by 33.3% during the 2nd quarter. Permanens Capital L.P. now owns 1,000 shares of the transportation company’s stock worth $41,000 after purchasing an additional 250 shares in the last quarter. NumerixS Investment Technologies Inc purchased a new stake in Air Lease during the 2nd quarter worth about $54,000. Finally, Parkside Financial Bank & Trust increased its position in Air Lease by 92.5% during the 2nd quarter. Parkside Financial Bank & Trust now owns 2,081 shares of the transportation company’s stock worth $86,000 after purchasing an additional 1,000 shares in the last quarter. Institutional investors and hedge funds own 91.16% of the company’s stock.
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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