Air Lease Corp to Post Q1 2020 Earnings of $1.63 Per Share, Seaport Global Securities Forecasts (AL)
Air Lease Corp (NYSE:AL) – Equities researchers at Seaport Global Securities decreased their Q1 2020 earnings per share (EPS) estimates for shares of Air Lease in a note issued to investors on Wednesday, April 17th. Seaport Global Securities analyst J. Sullivan now anticipates that the transportation company will earn $1.63 per share for the quarter, down from their previous estimate of $1.66. Seaport Global Securities also issued estimates for Air Lease’s Q4 2020 earnings at $1.74 EPS.
AL has been the topic of several other research reports. Goldman Sachs Group started coverage on shares of Air Lease in a research report on Monday, April 8th. They set a “buy” rating and a $52.00 price target on the stock. TheStreet raised shares of Air Lease from a “c+” rating to a “b-” rating in a research report on Wednesday, January 30th. ValuEngine cut shares of Air Lease from a “sell” rating to a “strong sell” rating in a research report on Wednesday, March 20th. Finally, Zacks Investment Research cut shares of Air Lease from a “buy” rating to a “hold” rating in a research report on Thursday, January 3rd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $55.56.
Air Lease (NYSE:AL) last posted its quarterly earnings data on Thursday, February 21st. The transportation company reported $1.24 earnings per share for the quarter, beating analysts’ consensus estimates of $1.23 by $0.01. The company had revenue of $449.98 million during the quarter, compared to analysts’ expectations of $457.55 million. Air Lease had a net margin of 30.41% and a return on equity of 11.45%.
A number of hedge funds and other institutional investors have recently modified their holdings of AL. Sageworth Trust Co bought a new position in Air Lease in the first quarter worth about $26,000. Penserra Capital Management LLC bought a new position in Air Lease in the fourth quarter worth about $27,000. First Mercantile Trust Co. lifted its holdings in Air Lease by 41.5% in the fourth quarter. First Mercantile Trust Co. now owns 920 shares of the transportation company’s stock worth $28,000 after acquiring an additional 270 shares during the last quarter. SeaBridge Investment Advisors LLC bought a new position in Air Lease in the fourth quarter worth about $30,000. Finally, First Interstate Bank bought a new position in Air Lease in the fourth quarter worth about $36,000. 85.51% of the stock is currently owned by hedge funds and other institutional investors.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 10th. Shareholders of record on Wednesday, March 20th were issued a $0.13 dividend. The ex-dividend date of this dividend was Tuesday, March 19th. This represents a $0.52 dividend on an annualized basis and a yield of 1.38%. Air Lease’s dividend payout ratio is currently 11.30%.
Air Lease Company Profile
Air Lease Corporation, an aircraft leasing company, engages in the purchase and leasing of commercial jet transport aircraft to airlines worldwide. The company also sells aircraft from its operating lease portfolio to third parties, including other leasing companies, financial services companies, and airlines.
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