Equities analysts predict that Air Lease Corp (NYSE:AL) will report $536.30 million in sales for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for Air Lease’s earnings, with estimates ranging from $512.70 million to $548.74 million. Air Lease reported sales of $449.98 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 19.2%. The firm is expected to announce its next quarterly earnings results on Thursday, February 20th.
According to Zacks, analysts expect that Air Lease will report full-year sales of $2.00 billion for the current fiscal year, with estimates ranging from $1.98 billion to $2.02 billion. For the next year, analysts anticipate that the company will post sales of $2.52 billion, with estimates ranging from $2.35 billion to $2.64 billion. Zacks’ sales averages are an average based on a survey of research analysts that that provide coverage for Air Lease.
Air Lease (NYSE:AL) last posted its quarterly earnings data on Thursday, November 7th. The transportation company reported $1.34 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.29 by $0.05. The business had revenue of $531.00 million for the quarter, compared to analysts’ expectations of $525.63 million. Air Lease had a return on equity of 10.81% and a net margin of 29.22%. The business’s revenue was up 17.8% on a year-over-year basis. During the same period in the previous year, the firm posted $1.73 EPS.
Air Lease stock traded down $0.25 during trading hours on Friday, hitting $47.20. 564,964 shares of the stock traded hands, compared to its average volume of 477,415. The firm’s 50-day moving average price is $45.71 and its two-hundred day moving average price is $41.86. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 2.52. The company has a market cap of $5.35 billion, a PE ratio of 9.66, a PEG ratio of 1.03 and a beta of 1.87. Air Lease has a one year low of $28.13 and a one year high of $47.89.
The business also recently declared a quarterly dividend, which will be paid on Monday, January 6th. Stockholders of record on Friday, December 20th will be given a $0.15 dividend. This is a boost from Air Lease’s previous quarterly dividend of $0.13. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.27%. The ex-dividend date is Thursday, December 19th. Air Lease’s payout ratio is currently 11.30%.
In other news, EVP Alex A. Khatibi sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $46.01, for a total value of $460,100.00. Following the sale, the executive vice president now directly owns 134,622 shares of the company’s stock, valued at approximately $6,193,958.22. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Marc H. Baer sold 7,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $46.77, for a total value of $327,390.00. Following the completion of the sale, the executive vice president now directly owns 123,008 shares in the company, valued at $5,753,084.16. The disclosure for this sale can be found here. Over the last three months, insiders sold 378,950 shares of company stock worth $17,129,296. Insiders own 8.76% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Parallel Advisors LLC raised its holdings in Air Lease by 1,196.6% in the 2nd quarter. Parallel Advisors LLC now owns 765 shares of the transportation company’s stock worth $32,000 after acquiring an additional 706 shares during the last quarter. Johnson Financial Group Inc. purchased a new position in Air Lease in the 2nd quarter worth approximately $32,000. Permanens Capital L.P. raised its stake in Air Lease by 33.3% during the 2nd quarter. Permanens Capital L.P. now owns 1,000 shares of the transportation company’s stock valued at $41,000 after buying an additional 250 shares during the last quarter. NumerixS Investment Technologies Inc purchased a new stake in Air Lease during the 2nd quarter valued at $54,000. Finally, Parkside Financial Bank & Trust raised its stake in Air Lease by 92.5% during the 2nd quarter. Parkside Financial Bank & Trust now owns 2,081 shares of the transportation company’s stock valued at $86,000 after buying an additional 1,000 shares during the last quarter. Institutional investors own 91.16% 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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