Brokerages expect that Air Lease Corp (NYSE:AL) will report earnings per share (EPS) of $1.33 for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for Air Lease’s earnings, with estimates ranging from $1.32 to $1.35. Air Lease posted earnings per share of $1.44 during the same quarter last year, which would indicate a negative year over year growth rate of 7.6%. The company is expected to report its next quarterly earnings results on Thursday, August 8th.
On average, analysts expect that Air Lease will report full year earnings of $5.55 per share for the current fiscal year, with EPS estimates ranging from $5.26 to $5.99. For the next fiscal year, analysts forecast that the firm will report earnings of $6.70 per share, with EPS estimates ranging from $6.25 to $7.06. Zacks’ EPS calculations are a mean average based on a survey of analysts that that provide coverage for Air Lease.
Air Lease (NYSE:AL) last announced its earnings results on Thursday, May 9th. The transportation company reported $1.23 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.22 by $0.01. Air Lease had a return on equity of 11.45% and a net margin of 30.50%. The business had revenue of $466.00 million during the quarter, compared to analysts’ expectations of $456.91 million. During the same quarter last year, the business posted $1.38 earnings per share. The company’s quarterly revenue was up 22.2% on a year-over-year basis.
Several research analysts recently weighed in on AL shares. Zacks Investment Research cut Air Lease from a “buy” rating to a “hold” rating in a research note on Friday, March 1st. ValuEngine cut Air Lease from a “sell” rating to a “strong sell” rating in a research note on Wednesday, March 20th. TheStreet raised Air Lease from a “c+” rating to a “b-” rating in a research note on Wednesday, January 30th. Finally, Goldman Sachs Group started coverage on Air Lease in a research note on Monday, April 8th. They set a “buy” rating and a $52.00 target price for the company. One investment analyst has rated the stock with a sell rating, three have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. Air Lease presently has an average rating of “Buy” and an average target price of $55.56.
In related news, CEO John L. Plueger sold 395,806 shares of the stock in a transaction on Friday, May 17th. The stock was sold at an average price of $38.16, for a total value of $15,103,956.96. Following the completion of the transaction, the chief executive officer now owns 914,145 shares in the company, valued at approximately $34,883,773.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO John L. Plueger sold 50,671 shares of the stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $38.59, for a total value of $1,955,393.89. Following the completion of the transaction, the chief executive officer now owns 914,145 shares of the company’s stock, valued at approximately $35,276,855.55. The disclosure for this sale can be found here. Company insiders own 8.76% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP boosted its position in shares of Air Lease by 3.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 4,442,137 shares of the transportation company’s stock valued at $152,586,000 after purchasing an additional 136,902 shares during the period. BlackRock Inc. boosted its position in shares of Air Lease by 7.8% in the 4th quarter. BlackRock Inc. now owns 4,330,216 shares of the transportation company’s stock valued at $130,815,000 after purchasing an additional 313,018 shares during the period. Royce & Associates LP boosted its position in shares of Air Lease by 6.8% in the 1st quarter. Royce & Associates LP now owns 3,271,375 shares of the transportation company’s stock valued at $112,372,000 after purchasing an additional 209,203 shares during the period. Ellis Investment Partners LLC boosted its position in shares of Air Lease by 3,293.8% in the 1st quarter. Ellis Investment Partners LLC now owns 2,259,600 shares of the transportation company’s stock valued at $2,259,000 after purchasing an additional 2,193,019 shares during the period. Finally, Federated Investors Inc. PA boosted its position in shares of Air Lease by 13.4% in the 1st quarter. Federated Investors Inc. PA now owns 2,121,044 shares of the transportation company’s stock valued at $72,858,000 after purchasing an additional 251,000 shares during the period. Institutional investors and hedge funds own 83.93% of the company’s stock.
AL stock traded up $0.65 during trading hours on Tuesday, hitting $37.87. 713,400 shares of the stock traded hands, compared to its average volume of 935,877. Air Lease has a one year low of $28.13 and a one year high of $47.34. The stock has a market capitalization of $4.14 billion, a P/E ratio of 8.23, a P/E/G ratio of 0.91 and a beta of 2.04. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 2.29.
The business also recently declared a quarterly dividend, which will be paid on Thursday, July 11th. Investors of record on Wednesday, June 5th will be given a $0.13 dividend. The ex-dividend date is Tuesday, June 4th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.37%. Air Lease’s dividend payout ratio (DPR) is 11.30%.
About Air Lease
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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