Investors Sell Shares of Air Lease Corp. (AL) on Strength (AL)
Traders sold shares of Air Lease Corp. (NYSE:AL) on strength during trading on Wednesday. $6.11 million flowed into the stock on the tick-up and $21.48 million flowed out of the stock on the tick-down, for a money net flow of $15.37 million out of the stock. Of all equities tracked, Air Lease Corp. had the 0th highest net out-flow for the day. Air Lease Corp. traded up $0.33 for the day and closed at $29.38
AL has been the subject of a number of research analyst reports. Zacks Investment Research raised Air Lease Corp. from a “hold” rating to a “strong-buy” rating and set a $33.00 target price for the company in a research report on Thursday, July 14th. FBR & Co decreased their target price on Air Lease Corp. from $40.00 to $37.00 and set an “outperform” rating for the company in a research report on Friday, August 5th. TheStreet lowered Air Lease Corp. from a “buy” rating to a “hold” rating in a research report on Monday, June 13th. Credit Suisse Group AG reaffirmed a “buy” rating on shares of Air Lease Corp. in a research report on Friday, May 20th. Finally, Royal Bank Of Canada boosted their target price on Air Lease Corp. from $71.00 to $73.00 and gave the company a “top pick” rating in a research report on Friday, May 6th. Two equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $44.69.
The firm has a market cap of $3.02 billion and a PE ratio of 9.33. The firm has a 50-day moving average price of $28.54 and a 200 day moving average price of $29.46.
Air Lease Corp. (NYSE:AL) last released its quarterly earnings results on Thursday, August 4th. The company reported $0.84 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.82 by $0.02. The company earned $350.10 million during the quarter, compared to the consensus estimate of $349.19 million. Air Lease Corp.’s quarterly revenue was up 14.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.70 earnings per share. Analysts forecast that Air Lease Corp. will post $3.41 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, October 6th. Investors of record on Monday, September 12th will be paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.68%. The ex-dividend date is Thursday, September 8th.
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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