Air Lease Corporation (NYSE:AL)’s share price reached a new 52-week high during mid-day trading on Friday following a stronger than expected earnings report. The company traded as high as $41.77 and last traded at $41.72, with a volume of 1,046,991 shares trading hands. The stock had previously closed at $39.93.

The transportation company reported $0.92 earnings per share for the quarter, topping the consensus estimate of $0.84 by $0.08. The firm had revenue of $380.59 million during the quarter, compared to the consensus estimate of $375.14 million. Air Lease Corporation had a net margin of 25.64% and a return on equity of 11.14%. The company’s revenue was up 8.7% on a year-over-year basis. During the same quarter last year, the company earned $1.39 earnings per share.

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 6th. Stockholders of record on Wednesday, September 13th will be paid a $0.075 dividend. The ex-dividend date of this dividend is Tuesday, September 12th. This represents a $0.30 annualized dividend and a dividend yield of 0.70%. Air Lease Corporation’s payout ratio is 8.70%.

Several equities analysts have recently weighed in on the stock. Cowen and Company lifted their target price on shares of Air Lease Corporation from $41.00 to $45.00 and gave the stock an “outperform” rating in a research note on Friday. BidaskClub upgraded shares of Air Lease Corporation from a “hold” rating to a “buy” rating in a research report on Tuesday, July 11th. Zacks Investment Research upgraded shares of Air Lease Corporation from a “sell” rating to a “hold” rating in a research report on Monday, July 10th. ValuEngine upgraded shares of Air Lease Corporation from a “buy” rating to a “strong-buy” rating in a research report on Saturday, June 10th. Finally, FBR & Co cut their price objective on shares of Air Lease Corporation from $47.00 to $45.00 and set an “outperform” rating for the company in a research report on Friday, May 5th. Two equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $45.43.

In other Air Lease Corporation news, EVP Kishore Korde sold 2,000 shares of Air Lease Corporation stock in a transaction that occurred on Thursday, June 1st. The shares were sold at an average price of $38.00, for a total transaction of $76,000.00. Following the transaction, the executive vice president now directly owns 86,410 shares of the company’s stock, valued at $3,283,580. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Grant A. Levy sold 27,854 shares of Air Lease Corporation stock in a transaction that occurred on Tuesday, June 13th. The stock was sold at an average price of $38.16, for a total transaction of $1,062,908.64. Following the transaction, the executive vice president now directly owns 210,824 shares in the company, valued at $8,045,043.84. The disclosure for this sale can be found here. Company insiders own 9.76% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of AL. Garrison Bradford & Associates Inc. increased its position in shares of Air Lease Corporation by 1.4% in the second quarter. Garrison Bradford & Associates Inc. now owns 22,200 shares of the transportation company’s stock valued at $829,000 after buying an additional 300 shares during the last quarter. Graybill Bartz & Assoc Ltd. increased its position in shares of Air Lease Corporation by 2.5% in the second quarter. Graybill Bartz & Assoc Ltd. now owns 112,118 shares of the transportation company’s stock valued at $4,189,000 after buying an additional 2,784 shares during the last quarter. Cooke & Bieler LP increased its position in shares of Air Lease Corporation by 27.1% in the second quarter. Cooke & Bieler LP now owns 582,170 shares of the transportation company’s stock valued at $21,750,000 after buying an additional 124,050 shares during the last quarter. BB&T Securities LLC purchased a new position in shares of Air Lease Corporation during the second quarter valued at approximately $338,000. Finally, Bank of New York Mellon Corp increased its position in shares of Air Lease Corporation by 14.5% in the second quarter. Bank of New York Mellon Corp now owns 563,634 shares of the transportation company’s stock valued at $21,056,000 after buying an additional 71,487 shares during the last quarter. 92.09% of the stock is currently owned by hedge funds and other institutional investors.

The company has a 50-day moving average of $38.43 and a 200 day moving average of $37.86. The stock has a market cap of $4.39 billion, a P/E ratio of 12.67 and a beta of 1.78.

WARNING: “Air Lease Corporation (NYSE:AL) Sets New 1-Year High After Strong Earnings” was originally posted by Daily Political and is the property of of Daily Political. If you are reading this piece of content on another website, it was illegally copied and republished in violation of United States and international trademark & copyright law. The original version of this piece of content can be read at https://www.dailypolitical.com/2017/08/05/air-lease-corporation-nyseal-sets-new-1-year-high-after-strong-earnings.html.

Air Lease Corporation Company Profile

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.

Receive News & Ratings for Air Lease Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Air Lease Corporation and related companies with MarketBeat.com's FREE daily email newsletter.