Brokerages Anticipate Air Lease Corp (AL) Will Post Earnings of $1.32 Per Share

Equities analysts expect Air Lease Corp (NYSE:AL) to announce earnings of $1.32 per share for the current quarter, according to Zacks. Three analysts have made estimates for Air Lease’s earnings, with the highest EPS estimate coming in at $1.35 and the lowest estimate coming in at $1.27. Air Lease posted earnings of $1.44 per share in the same quarter last year, which suggests a negative year-over-year growth rate of 8.3%. The business is scheduled to report its next quarterly earnings report on Thursday, August 8th.

On average, analysts expect that Air Lease will report full year earnings of $5.54 per share for the current financial year, with EPS estimates ranging from $5.26 to $5.99. For the next fiscal year, analysts expect that the firm will post earnings of $6.70 per share, with EPS estimates ranging from $6.25 to $7.06. Zacks’ earnings per share averages are an average based on a survey of analysts that that provide coverage for Air Lease.

Air Lease (NYSE:AL) last issued its earnings results on Thursday, May 9th. The transportation company reported $1.23 earnings per share for the quarter, beating analysts’ consensus estimates of $1.22 by $0.01. Air Lease had a net margin of 30.50% and a return on equity of 11.45%. The firm had revenue of $466.00 million for the quarter, compared to analyst estimates 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.

AL has been the topic of a number of research analyst reports. Zacks Investment Research lowered shares of Air Lease from a “buy” rating to a “hold” rating in a research report on Friday, March 1st. ValuEngine lowered shares of Air Lease from a “sell” rating to a “strong sell” rating in a report on Wednesday, March 20th. TheStreet upgraded shares of Air Lease from a “c+” rating to a “b-” rating in a report on Wednesday, January 30th. Finally, Goldman Sachs Group began coverage on shares of Air Lease in a report on Monday, April 8th. They set a “buy” rating and a $52.00 price target on the stock. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Air Lease has an average rating of “Buy” and a consensus price target of $55.56.

Air Lease stock traded down $0.54 during mid-day trading on Tuesday, reaching $37.62. The company had a trading volume of 1,278,650 shares, compared to its average volume of 871,143. Air Lease has a fifty-two week low of $28.13 and a fifty-two week high of $47.34. The company has a debt-to-equity ratio of 2.29, a current ratio of 0.81 and a quick ratio of 0.81. The firm has a market capitalization of $4.18 billion, a P/E ratio of 8.18, a P/E/G ratio of 0.91 and a beta of 2.04.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 11th. Stockholders of record on Wednesday, June 5th will be issued a dividend of $0.13 per share. The ex-dividend date of this dividend is Tuesday, June 4th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.38%. Air Lease’s dividend payout ratio (DPR) is presently 11.30%.

In other news, CEO John L. Plueger sold 395,806 shares of Air Lease stock in a transaction on Friday, May 17th. The shares were sold at an average price of $38.16, for a total transaction of $15,103,956.96. Following the transaction, the chief executive officer now owns 914,145 shares in the company, valued at $34,883,773.20. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO John L. Plueger sold 50,671 shares of Air Lease stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $38.59, for a total transaction of $1,955,393.89. Following the transaction, the chief executive officer now owns 914,145 shares in the company, valued at approximately $35,276,855.55. The disclosure for this sale can be found here. 8.76% of the stock is currently owned by insiders.

A number of hedge funds have recently added to or reduced their stakes in AL. Ellis Investment Partners LLC lifted its holdings in Air Lease by 3,293.8% in the first quarter. Ellis Investment Partners LLC now owns 2,259,600 shares of the transportation company’s stock valued at $2,259,000 after buying an additional 2,193,019 shares during the period. Norges Bank acquired a new position in Air Lease in the fourth quarter valued at $18,979,000. CI Investments Inc. lifted its holdings in Air Lease by 103.4% in the fourth quarter. CI Investments Inc. now owns 1,059,900 shares of the transportation company’s stock valued at $32,020,000 after buying an additional 538,800 shares during the period. Royce & Associates LP lifted its holdings in Air Lease by 19.3% in the fourth quarter. Royce & Associates LP now owns 3,062,172 shares of the transportation company’s stock valued at $92,508,000 after buying an additional 495,858 shares during the period. Finally, Wells Fargo & Company MN lifted its holdings in Air Lease by 54.3% in the first quarter. Wells Fargo & Company MN now owns 1,210,056 shares of the transportation company’s stock valued at $41,565,000 after buying an additional 426,051 shares during the period. Institutional investors and hedge funds own 83.93% of the company’s stock.

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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Earnings History and Estimates for Air Lease (NYSE:AL)

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