Traders Sell Shares of Air Lease Corp. (AL) on Strength (AL)
Investors sold shares of Air Lease Corp. (NYSE:AL) on strength during trading hours 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 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
Several analysts have commented on the stock. FBR & Co restated a “buy” rating on shares of Air Lease Corp. in a report on Sunday, May 8th. Morgan Stanley restated a “buy” rating on shares of Air Lease Corp. in a report on Sunday, May 22nd. Royal Bank Of Canada raised their target price on shares of Air Lease Corp. from $71.00 to $73.00 and gave the stock a “top pick” rating in a report on Friday, May 6th. Credit Suisse Group AG restated a “buy” rating on shares of Air Lease Corp. in a report on Friday, May 20th. Finally, Zacks Investment Research upgraded shares of Air Lease Corp. from a “hold” rating to a “buy” rating and set a $30.00 target price on the stock in a report on Wednesday, June 29th. Two analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. Air Lease Corp. presently has a consensus rating of “Buy” and a consensus target price of $44.69.
The firm’s 50-day moving average is $28.57 and its 200-day moving average 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 announced its 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. During the same quarter in the previous year, the company earned $0.70 earnings per share. The company earned $350.10 million during the quarter, compared to the consensus estimate of $349.19 million. The business’s revenue was up 14.9% on a year-over-year basis. Equities analysts anticipate that Air Lease Corp. will post $3.41 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, October 6th. Investors of record on Monday, September 12th will be issued a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.68%. The ex-dividend date of this dividend 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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.