Air Lease Corp. (AL) Given Average Rating of “Buy” by Brokerages
Shares of Air Lease Corp. (NYSE:AL) have been given an average rating of “Buy” by the ten analysts that are covering the company. One analyst has rated the stock with a sell recommendation, one has given a hold recommendation, seven have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price target among analysts that have covered the stock in the last year is $46.25.
Several research firms have recently weighed in on AL. Zacks Investment Research lowered Air Lease Corp. from a “buy” rating to a “hold” rating in a research note on Wednesday, August 10th. FBR & Co reduced their price objective on Air Lease Corp. from $40.00 to $37.00 and set an “outperform” rating for the company in a research note on Friday, August 5th. Finally, TheStreet lowered Air Lease Corp. from a “buy” rating to a “hold” rating in a research note on Monday, June 13th.
Several hedge funds have recently made changes to their positions in AL. LS Investment Advisors LLC purchased a new stake in shares of Air Lease Corp. during the second quarter valued at about $102,000. Monetary Management Group Inc. raised its stake in shares of 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 in the last quarter. Tower Research Capital LLC TRC raised its stake in shares of 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 in the last quarter. Metropolitan Life Insurance Co. NY raised its stake in shares of 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 in the last quarter. Finally, Glenmede Trust Co. NA purchased a new stake in shares of 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.
Shares of Air Lease Corp. (NYSE:AL) opened at 29.98 on Thursday. The firm’s 50-day moving average price is $28.61 and its 200-day moving average price is $29.12. Air Lease Corp. has a 52-week low of $22.47 and a 52-week high of $35.22. The stock has a market cap of $3.08 billion, a P/E ratio of 9.52 and a beta of 1.59.
Air Lease Corp. (NYSE:AL) last released its quarterly earnings data on Thursday, August 4th. The company reported $0.84 earnings per share for the quarter, topping the consensus estimate of $0.82 by $0.02. The business earned $350.10 million during 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 company’s revenue was up 14.9% compared to the same quarter last year. During the same period last year, the company posted $0.70 EPS. On average, equities research analysts forecast that Air Lease Corp. will post $3.39 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, October 6th. Stockholders of record on Monday, September 12th were issued a $0.05 dividend. The ex-dividend date was Thursday, September 8th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.67%. Air Lease Corp.’s payout ratio is currently 6.37%.
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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