Air Lease Corp. (AL) Stock Price Up 1.3%
Shares of Air Lease Corp. (NYSE:AL) traded up 1.3% during mid-day trading on Wednesday . The company traded as high as $27.84 and last traded at $27.81, with a volume of 882,165 shares. The stock had previously closed at $27.44.
Several analysts have weighed in on the company. FBR & Co reaffirmed a “buy” rating on shares of Air Lease Corp. in a report on Sunday, May 8th. Royal Bank Of Canada raised their price target on Air Lease Corp. from $71.00 to $73.00 and gave the company a “top pick” rating in a report on Friday, May 6th. Morgan Stanley reaffirmed a “buy” rating on shares of Air Lease Corp. in a report on Sunday, May 22nd. Zacks Investment Research raised Air Lease Corp. from a “hold” rating to a “strong-buy” rating and set a $33.00 price target on the stock in a report on Thursday, July 14th. Finally, Credit Suisse Group AG reaffirmed a “buy” rating on shares of Air Lease Corp. in a report on Friday, May 20th. Two research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $43.95.
The firm has a market cap of $2.89 billion and a PE ratio of 8.91. The firm has a 50 day moving average price of $28.12 and a 200 day moving average price of $29.13.
Air Lease Corp. (NYSE:AL) last released its quarterly earnings results on Thursday, August 4th. The company reported $0.84 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.82 by $0.02. The firm had revenue of $350.10 million for the quarter, compared to analysts’ expectations of $349.19 million. The firm’s quarterly revenue was up 14.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.70 EPS. Equities research analysts anticipate that Air Lease Corp. will post $3.41 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, October 6th. Stockholders of record on Monday, September 12th will be given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.71%. The ex-dividend date of this dividend is Thursday, September 8th.
An institutional investor recently raised its position in Air Lease Corp. stock. Dimensional Fund Advisors LP boosted its stake in shares of Air Lease Corp. (NYSE:AL) by 11.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,148,255 shares of the company’s stock after buying an additional 213,325 shares during the period. Dimensional Fund Advisors LP owned about 2.11% of Air Lease Corp. worth $71,923,000 as of its most recent filing with the SEC.
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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