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 Thursday. $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 companies 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
Several equities analysts have recently issued reports on AL shares. TheStreet cut Air Lease Corp. from a “buy” rating to a “hold” rating in a report on Monday, June 13th. FBR & Co reissued a “buy” rating on shares of Air Lease Corp. in a report on Sunday, May 8th. Zacks Investment Research cut Air Lease Corp. from a “buy” rating to a “hold” rating in a report on Wednesday, July 6th. Royal Bank Of Canada upped their price target on Air Lease Corp. from $71.00 to $73.00 and gave the stock a “top pick” rating in a report on Friday, May 6th. Finally, Credit Suisse Group AG reaffirmed a “buy” rating on shares of Air Lease Corp. in a report on Friday, May 20th. Two investment 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 stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $44.69.
The company’s 50-day moving average price is $28.54 and its 200 day moving average price is $29.46. The stock has a market capitalization of $3.01 billion and a price-to-earnings ratio of 9.31.
Air Lease Corp. (NYSE:AL) last issued its quarterly earnings data on Thursday, August 4th. The company reported $0.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.82 by $0.02. During the same period in the previous year, the business posted $0.70 EPS. The firm had revenue of $350.10 million for the quarter, compared to analysts’ expectations of $349.19 million. The business’s revenue for the quarter was up 14.9% compared to the same quarter last year. Equities analysts expect that Air Lease Corp. will post $3.41 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 6th. Shareholders of record on Monday, September 12th will be issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend 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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