Air Lease Co. (NYSE:AL – Get Free Report) was the recipient of a large decline in short interest during the month of June. As of June 30th, there was short interest totalling 3,300,000 shares, a decline of 26.7% from the June 15th total of 4,500,000 shares. Approximately 3.2% of the company’s shares are sold short. Based on an average daily trading volume, of 810,300 shares, the short-interest ratio is currently 4.1 days.
Wall Street Analysts Forecast Growth
Several research analysts have issued reports on the stock. StockNews.com lowered shares of Air Lease from a “buy” rating to a “hold” rating in a report on Friday, March 29th. TD Cowen dropped their target price on shares of Air Lease from $59.00 to $56.00 and set a “buy” rating on the stock in a report on Tuesday, May 7th. Finally, Barclays increased their price target on Air Lease from $48.00 to $55.00 and gave the stock an “overweight” rating in a report on Tuesday, April 16th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, Air Lease presently has an average rating of “Moderate Buy” and a consensus target price of $53.80.
Read Our Latest Stock Analysis on Air Lease
Hedge Funds Weigh In On Air Lease
Air Lease Stock Performance
Shares of AL stock opened at $47.78 on Monday. Air Lease has a 52 week low of $33.33 and a 52 week high of $52.31. The firm’s 50-day simple moving average is $47.56 and its two-hundred day simple moving average is $45.75. The firm has a market cap of $5.32 billion, a price-to-earnings ratio of 9.63, a P/E/G ratio of 0.99 and a beta of 1.59. The company has a debt-to-equity ratio of 2.69, a quick ratio of 0.48 and a current ratio of 0.48.
Air Lease (NYSE:AL – Get Free Report) last announced its quarterly earnings data on Monday, May 6th. The transportation company reported $0.87 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.94 by ($0.07). The firm had revenue of $663.31 million during 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%. The company’s revenue was up 4.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.06 earnings per share. As a group, equities analysts forecast that Air Lease will post 6.96 earnings per share for the current year.
Air Lease Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Monday, July 8th. Shareholders of record on Tuesday, June 4th were issued a $0.21 dividend. The ex-dividend date was Tuesday, June 4th. This represents a $0.84 annualized dividend and a dividend yield of 1.76%. Air Lease’s payout ratio is currently 16.94%.
About Air Lease
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.
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