Air Lease (NYSE:AL) Issues Earnings Results

Air Lease (NYSE:AL) issued its quarterly earnings data on Thursday. The transportation company reported $1.18 earnings per share for the quarter, beating the consensus estimate of $1.15 by $0.03, reports. Air Lease had a net margin of 20.85% and a return on equity of 8.97%. The company had revenue of $690.16 million for the quarter, compared to analyst estimates of $681.71 million.

Air Lease Stock Down 0.5 %

Shares of AL opened at $47.09 on Friday. The firm has a 50 day simple moving average of $44.38 and a two-hundred day simple moving average of $46.29. The company has a market cap of $5.24 billion, a P/E ratio of 10.73, a P/E/G ratio of 1.32 and a beta of 1.59. Air Lease has a one year low of $36.37 and a one year high of $52.31. The company has a debt-to-equity ratio of 2.69, a current ratio of 0.50 and a quick ratio of 0.50.

Air Lease Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 9th. Investors of record on Thursday, December 12th will be given a dividend of $0.22 per share. This is a positive change from Air Lease’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend is Thursday, December 12th. This represents a $0.88 annualized dividend and a dividend yield of 1.87%. Air Lease’s dividend payout ratio (DPR) is currently 19.13%.

Institutional Trading of Air Lease

Several institutional investors and hedge funds have recently modified their holdings of the business. Highland Peak Capital LLC bought a new stake in shares of Air Lease during the 3rd quarter valued at approximately $7,066,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Air Lease during the third quarter worth $872,000. Factorial Partners LLC increased its holdings in shares of Air Lease by 10.7% during the third quarter. Factorial Partners LLC now owns 79,700 shares of the transportation company’s stock worth $3,610,000 after buying an additional 7,700 shares in the last quarter. BCGM Wealth Management LLC acquired a new position in shares of Air Lease during the third quarter worth $1,899,000. Finally, Natixis Advisors LLC lifted its stake in shares of Air Lease by 8.6% in the 3rd quarter. Natixis Advisors LLC now owns 204,577 shares of the transportation company’s stock valued at $9,266,000 after acquiring an additional 16,184 shares during the last quarter. 94.59% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

AL has been the topic of a number of recent research reports. JPMorgan Chase & Co. lowered their target price on Air Lease from $54.00 to $52.00 and set an “overweight” rating on the stock in a research note on Monday, August 5th. Barclays decreased their price target on shares of Air Lease from $55.00 to $54.00 and set an “overweight” rating on the stock in a research note on Friday, August 2nd. Finally, TD Cowen began coverage on shares of Air Lease in a research report on Monday, July 29th. They issued a “buy” rating and a $58.00 price target for the company. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $54.75.

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.