Equities analysts expect Air Lease Corp (NYSE:AL) to post $498.06 million in sales for the current quarter, Zacks reports. Three analysts have provided estimates for Air Lease’s earnings, with the lowest sales estimate coming in at $488.30 million and the highest estimate coming in at $509.07 million. Air Lease reported sales of $397.81 million during the same quarter last year, which indicates a positive year-over-year growth rate of 25.2%. The company is scheduled to report its next quarterly earnings report on Thursday, August 8th.
According to Zacks, analysts expect that Air Lease will report full-year sales of $2.05 billion for the current year, with estimates ranging from $2.01 billion to $2.11 billion. For the next financial year, analysts forecast that the company will report sales of $2.60 billion, with estimates ranging from $2.52 billion to $2.64 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that follow Air Lease.
Air Lease (NYSE:AL) last posted its earnings results on Thursday, May 9th. The transportation company reported $1.23 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.22 by $0.01. The business had revenue of $466.00 million for the quarter, compared to analysts’ expectations of $456.91 million. Air Lease had a net margin of 30.50% and a return on equity of 11.45%. The business’s revenue for the quarter was up 22.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.38 EPS.
AL opened at $38.55 on Friday. Air Lease has a 52-week low of $28.13 and a 52-week high of $47.34. The stock has a market cap of $4.27 billion, a price-to-earnings ratio of 8.38, a P/E/G ratio of 0.93 and a beta of 1.93. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 2.29.
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 given a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 1.35%. The ex-dividend date of this dividend is Tuesday, June 4th. Air Lease’s payout ratio is currently 11.30%.
In related news, EVP Marc H. Baer sold 130,000 shares of the stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $36.80, for a total value of $4,784,000.00. Following the completion of the sale, the executive vice president now directly owns 275,008 shares of the company’s stock, valued at approximately $10,120,294.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO John L. Plueger sold 395,806 shares of the stock in a transaction that occurred on Friday, May 17th. The stock was sold at an average price of $38.16, for a total transaction of $15,103,956.96. Following the completion of the sale, the chief executive officer now directly owns 914,145 shares of the company’s stock, valued at $34,883,773.20. The disclosure for this sale can be found here. Insiders have sold a total of 576,477 shares of company stock valued at $21,843,351 in the last ninety days. Insiders own 8.76% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the stock. Sageworth Trust Co purchased a new stake in Air Lease in the 1st quarter worth approximately $26,000. Permanens Capital L.P. purchased a new stake in Air Lease in the 1st quarter worth approximately $26,000. Penserra Capital Management LLC purchased a new stake in Air Lease in the 4th quarter worth approximately $27,000. First Mercantile Trust Co. increased its holdings in Air Lease by 41.5% in the 4th quarter. First Mercantile Trust Co. now owns 920 shares of the transportation company’s stock worth $28,000 after acquiring an additional 270 shares in the last quarter. Finally, SeaBridge Investment Advisors LLC purchased a new stake in Air Lease in the 4th quarter worth approximately $30,000. 85.92% of the stock is owned by institutional investors.
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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