Air Lease Co. (NYSE:AL) Receives $53.80 Consensus Target Price from Analysts

Shares of Air Lease Co. (NYSE:AL) have received a consensus recommendation of “Moderate Buy” from the five analysts that are currently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company. The average 12-month target price among analysts that have covered the stock in the last year is $53.80.

Several brokerages have weighed in on AL. TD Cowen reduced their price objective on Air Lease from $59.00 to $56.00 and set a “buy” rating on the stock in a research note on Tuesday, May 7th. StockNews.com downgraded Air Lease from a “buy” rating to a “hold” rating in a research report on Friday, March 29th. Finally, Barclays increased their price target on Air Lease from $48.00 to $55.00 and gave the company an “overweight” rating in a report on Tuesday, April 16th.

Air Lease Stock Down 0.9 %

AL opened at $47.53 on Wednesday. The company has a market capitalization of $5.29 billion, a PE ratio of 9.58, a price-to-earnings-growth ratio of 0.90 and a beta of 1.62. The firm has a 50-day simple moving average of $48.28 and a two-hundred day simple moving average of $45.33. The company has a quick ratio of 0.48, a current ratio of 0.48 and a debt-to-equity ratio of 2.69. Air Lease has a 52 week low of $33.33 and a 52 week high of $52.31.

Air Lease (NYSE:AL) last announced its quarterly earnings results on Monday, May 6th. The transportation company reported $0.87 EPS for the quarter, missing analysts’ consensus estimates of $0.94 by ($0.07). The firm had revenue of $663.31 million for the quarter, compared to the consensus estimate of $677.26 million. Air Lease had a net margin of 21.89% and a return on equity of 9.00%. Air Lease’s quarterly revenue was up 4.3% on a year-over-year basis. During the same period in the previous year, the company posted $1.06 earnings per share. Analysts forecast that Air Lease will post 6.96 earnings per share for the current fiscal year.

Air Lease Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 8th. Investors of record on Tuesday, June 4th will be paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.77%. The ex-dividend date is Tuesday, June 4th. Air Lease’s dividend payout ratio is currently 16.94%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Boston Partners lifted its holdings in shares of Air Lease by 239.9% in the 1st quarter. Boston Partners now owns 307,657 shares of the transportation company’s stock worth $15,827,000 after buying an additional 217,153 shares during the period. Verity Asset Management Inc. increased its position in Air Lease by 23.7% during the 1st quarter. Verity Asset Management Inc. now owns 13,751 shares of the transportation company’s stock valued at $707,000 after purchasing an additional 2,634 shares during the period. Teachers Retirement System of The State of Kentucky bought a new stake in shares of Air Lease in the 1st quarter valued at about $1,302,000. Cetera Advisors LLC purchased a new stake in shares of Air Lease in the 1st quarter worth approximately $255,000. Finally, Comerica Bank boosted its stake in shares of Air Lease by 32.0% during the first quarter. Comerica Bank now owns 138,314 shares of the transportation company’s stock valued at $7,115,000 after purchasing an additional 33,524 shares in the last quarter. 94.59% of the stock is currently owned by institutional investors.

Air Lease Company Profile

Air Lease Corporation, an aircraft leasing company, engages in the purchase and leasing of commercial jet aircraft to airlines worldwide. It sells aircraft from its fleet to third parties, including other leasing companies, financial services companies, airlines, and other investors. The company provides fleet management services to investors and owners of aircraft portfolios.