Air Lease (NYSE:AL) Posts Quarterly Earnings Results, Misses Estimates By $0.10 EPS

Air Lease (NYSE:ALGet Rating) released its quarterly earnings data on Thursday. The transportation company reported $0.95 EPS for the quarter, missing analysts’ consensus estimates of $1.05 by ($0.10), Briefing.com reports. The business had revenue of $557.70 million during the quarter, compared to analysts’ expectations of $542.23 million. Air Lease had a negative net margin of 4.99% and a positive return on equity of 7.82%. The company’s revenue was up 13.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.75 EPS.

Air Lease Stock Performance

Shares of AL traded up $0.36 during mid-day trading on Friday, reaching $38.27. 925,732 shares of the company’s stock were exchanged, compared to its average volume of 537,614. The business’s fifty day simple moving average is $34.47 and its 200-day simple moving average is $38.56. The stock has a market capitalization of $4.24 billion, a PE ratio of -33.28 and a beta of 1.83. Air Lease has a 52-week low of $29.75 and a 52-week high of $50.99. The company has a debt-to-equity ratio of 2.80, a current ratio of 2.78 and a quick ratio of 2.78.

Air Lease Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 7th. Stockholders of record on Monday, September 12th will be issued a $0.185 dividend. This represents a $0.74 annualized dividend and a dividend yield of 1.93%. The ex-dividend date of this dividend is Friday, September 9th. Air Lease’s payout ratio is currently -64.35%.

Analyst Upgrades and Downgrades

Separately, Barclays reduced their price objective on shares of Air Lease from $61.00 to $55.00 and set an “overweight” rating for the company in a research report on Wednesday, July 13th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, Air Lease currently has an average rating of “Moderate Buy” and an average price target of $52.67.

Insider Activity at Air Lease

In other Air Lease news, Chairman Steven F. Udvar-Hazy bought 3,000 shares of Air Lease stock in a transaction dated Wednesday, May 11th. The stock was acquired at an average cost of $35.60 per share, with a total value of $106,800.00. Following the completion of the acquisition, the chairman now owns 1,204,558 shares of the company’s stock, valued at $42,882,264.80. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. 6.57% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Prudential Financial Inc. grew its stake in shares of Air Lease by 550.9% during the 1st quarter. Prudential Financial Inc. now owns 1,019,288 shares of the transportation company’s stock worth $45,511,000 after purchasing an additional 862,698 shares during the period. Northern Trust Corp lifted its position in shares of Air Lease by 2.0% during the 1st quarter. Northern Trust Corp now owns 916,675 shares of the transportation company’s stock valued at $40,930,000 after acquiring an additional 17,864 shares during the period. Bank of Montreal Can boosted its stake in shares of Air Lease by 140.6% during the 1st quarter. Bank of Montreal Can now owns 126,761 shares of the transportation company’s stock worth $5,642,000 after acquiring an additional 74,067 shares in the last quarter. Sei Investments Co. grew its holdings in shares of Air Lease by 7.3% in the 1st quarter. Sei Investments Co. now owns 96,738 shares of the transportation company’s stock worth $4,324,000 after acquiring an additional 6,568 shares during the period. Finally, Canada Pension Plan Investment Board purchased a new position in Air Lease in the 1st quarter valued at approximately $4,152,000. 86.00% of the stock is owned by hedge funds and other institutional investors.

Air Lease Company Profile

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Air Lease Corporation, an aircraft leasing company, engages in the purchase and leasing of commercial jet aircraft to airlines worldwide. It also sells aircraft from its operating lease portfolio to third parties, including other leasing companies, financial services companies, airlines, and other investors.

See Also

Earnings History for Air Lease (NYSE:AL)

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