Air Lease Corporation (NYSE:AL) to Issue $0.08 Quarterly Dividend
Air Lease Corporation (NYSE:AL) declared a quarterly dividend on Friday, August 4th, Wall Street Journal reports. Investors of record on Wednesday, September 13th will be given a dividend of 0.075 per share by the transportation company on Friday, October 6th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 0.70%. The ex-dividend date of this dividend is Tuesday, September 12th.
Air Lease Corporation has increased its dividend payment by an average of 38.7% annually over the last three years and has increased its dividend annually for the last 3 consecutive years. Air Lease Corporation has a payout ratio of 8.8% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Air Lease Corporation to earn $4.05 per share next year, which means the company should continue to be able to cover its $0.30 annual dividend with an expected future payout ratio of 7.4%.
Air Lease Corporation (NYSE:AL) opened at 42.56 on Friday. The company has a 50 day moving average price of $38.43 and a 200-day moving average price of $37.86. The company has a market capitalization of $4.39 billion, a PE ratio of 12.67 and a beta of 1.78. Air Lease Corporation has a 12-month low of $27.05 and a 12-month high of $42.57.
Air Lease Corporation (NYSE:AL) last announced its quarterly earnings data on Thursday, August 3rd. The transportation company reported $0.92 earnings per share for the quarter, topping the consensus estimate of $0.84 by $0.08. Air Lease Corporation had a return on equity of 11.14% and a net margin of 25.64%. The business had revenue of $380.59 million during the quarter, compared to the consensus estimate of $375.14 million. During the same period in the prior year, the company earned $1.39 EPS. Air Lease Corporation’s revenue for the quarter was up 8.7% on a year-over-year basis. On average, analysts anticipate that Air Lease Corporation will post $3.42 EPS for the current year.
Several brokerages recently weighed in on AL. Cowen and Company upped their price objective on Air Lease Corporation from $41.00 to $45.00 and gave the stock an “outperform” rating in a research report on Friday. BidaskClub upgraded Air Lease Corporation from a “hold” rating to a “buy” rating in a research report on Tuesday, July 11th. Zacks Investment Research upgraded Air Lease Corporation from a “sell” rating to a “hold” rating in a research report on Monday, July 10th. ValuEngine upgraded Air Lease Corporation from a “buy” rating to a “strong-buy” rating in a research report on Saturday, June 10th. Finally, FBR & Co dropped their target price on 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 given a buy rating and one has assigned a strong buy rating to the company’s stock. Air Lease Corporation presently has a consensus rating of “Buy” and a consensus target price of $45.43.
In other Air Lease Corporation news, EVP Kishore Korde sold 2,000 shares of the stock in a transaction dated Thursday, June 1st. The stock was sold at an average price of $38.00, for a total value of $76,000.00. Following the completion of the transaction, the executive vice president now directly owns 86,410 shares in the company, valued at $3,283,580. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Grant A. Levy sold 27,854 shares of the stock in a transaction dated Tuesday, June 13th. The shares were sold at an average price of $38.16, for a total value of $1,062,908.64. Following the completion of the transaction, the executive vice president now owns 210,824 shares of the company’s stock, valued at $8,045,043.84. The disclosure for this sale can be found here. 9.76% of the stock is currently owned by company insiders.
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.
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