Air Lease Corp. (AL) Earns “Buy” Rating from FBR & Co
Several other research firms have also weighed in on AL. Morgan Stanley reaffirmed a buy rating on shares of Air Lease Corp. in a research 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 research report on Thursday, July 14th. Finally, TheStreet lowered Air Lease Corp. from a buy rating to a hold rating in a research report on Monday, June 13th. Two research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. The company has an average rating of Buy and an average price target of $44.44.
Air Lease Corp. (NYSE:AL) opened at 27.40 on Monday. The company has a 50 day moving average price of $28.43 and a 200-day moving average price of $29.44. The firm has a market capitalization of $2.82 billion, a price-to-earnings ratio of 8.70 and a beta of 1.63. Air Lease Corp. has a 52 week low of $22.47 and a 52 week high of $35.22.
Air Lease Corp. (NYSE:AL) last posted its quarterly earnings results on Thursday, August 4th. The company reported $0.84 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.82 by $0.02. The firm had revenue of $350.10 million for the quarter, compared to analyst estimates of $349.19 million. Air Lease Corp. had a return on equity of 14.72% and a net margin of 25.70%. The business’s quarterly revenue was up 14.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.70 EPS. Equities analysts predict that Air Lease Corp. will post $3.39 earnings per share for the current year.
The company 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. The ex-dividend date is Thursday, September 8th. This represents a $0.20 annualized dividend and a yield of 0.73%. Air Lease Corp.’s dividend payout ratio (DPR) is presently 6.37%.
Hedge funds have recently added to or reduced their stakes in the stock. LS Investment Advisors LLC purchased a new stake in Air Lease Corp. during the second quarter valued at about $102,000. Monetary Management Group Inc. increased its stake in Air Lease Corp. by 17.9% in the first quarter. Monetary Management Group Inc. now owns 3,300 shares of the company’s stock valued at $106,000 after buying an additional 500 shares during the period. Tower Research Capital LLC TRC increased its stake in Air Lease Corp. by 761.7% in the second quarter. Tower Research Capital LLC TRC now owns 4,188 shares of the company’s stock valued at $112,000 after buying an additional 3,702 shares during the period. Metropolitan Life Insurance Co. NY increased its stake in Air Lease Corp. by 55.1% in the second quarter. Metropolitan Life Insurance Co. NY now owns 5,025 shares of the company’s stock valued at $135,000 after buying an additional 1,786 shares during the period. Finally, Glenmede Trust Co. NA purchased a new stake in Air Lease Corp. during the second quarter valued at about $137,000. Institutional investors and hedge funds own 91.53% of the company’s stock.
About Air Lease Corp.
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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