Air Lease Corp (NYSE:AL) Receives Consensus Rating of “Hold” from Analysts

Air Lease Corp (NYSE:AL) has been given an average recommendation of “Hold” by the eight research firms that are covering the firm, Marketbeat.com reports. Two research analysts have rated the stock with a sell recommendation, one has given a hold recommendation and four have issued a buy recommendation on the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $47.80.

A number of analysts have recently weighed in on AL shares. ValuEngine cut Air Lease from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. Cowen reissued an “outperform” rating and issued a $49.00 price objective (down previously from $50.00) on shares of Air Lease in a research report on Friday, August 9th. Finally, Zacks Investment Research cut Air Lease from a “hold” rating to a “sell” rating and set a $43.00 price objective for the company. in a research report on Friday, August 2nd.

NYSE AL traded down $0.67 during midday trading on Friday, hitting $39.00. 683,009 shares of the company traded hands, compared to its average volume of 809,770. The company has a debt-to-equity ratio of 2.43, a current ratio of 0.64 and a quick ratio of 0.64. The company has a market cap of $4.38 billion, a PE ratio of 8.48, a price-to-earnings-growth ratio of 0.73 and a beta of 1.95. The company’s 50-day simple moving average is $40.44 and its 200-day simple moving average is $38.23. Air Lease has a 52 week low of $28.13 and a 52 week high of $47.34.

Air Lease (NYSE:AL) last announced its earnings results on Thursday, August 8th. The transportation company reported $1.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.27 by ($0.17). The company had revenue of $471.40 million for the quarter, compared to the consensus estimate of $483.40 million. Air Lease had a net margin of 30.00% and a return on equity of 11.16%. The firm’s revenue was up 18.5% compared to the same quarter last year. During the same period last year, the business posted $1.44 EPS. On average, research analysts predict that Air Lease will post 5.23 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 4th. Stockholders of record on Sunday, September 15th will be given a $0.13 dividend. The ex-dividend date is Thursday, September 12th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.33%. Air Lease’s payout ratio is 11.30%.

In related news, insider Steven F. Udvar-Hazy sold 507,789 shares of the firm’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $38.58, for a total value of $19,590,499.62. Following the completion of the transaction, the insider now owns 1,334,842 shares in the company, valued at approximately $51,498,204.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Steven F. Udvar-Hazy sold 249,991 shares of the firm’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $39.25, for a total value of $9,812,146.75. Following the completion of the transaction, the chairman now owns 1,334,842 shares of the company’s stock, valued at approximately $52,392,548.50. The disclosure for this sale can be found here. Insiders sold a total of 773,543 shares of company stock valued at $30,015,271 in the last three months. Insiders own 8.76% of the company’s stock.

A number of hedge funds have recently modified their holdings of AL. Dimensional Fund Advisors LP raised its stake in Air Lease by 7.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 4,305,235 shares of the transportation company’s stock worth $130,060,000 after acquiring an additional 289,140 shares in the last quarter. Two Sigma Advisers LP raised its stake in Air Lease by 3.6% during the fourth quarter. Two Sigma Advisers LP now owns 7,600 shares of the transportation company’s stock worth $230,000 after acquiring an additional 267 shares in the last quarter. Legal & General Group Plc raised its stake in Air Lease by 0.8% during the fourth quarter. Legal & General Group Plc now owns 71,881 shares of the transportation company’s stock worth $2,172,000 after acquiring an additional 598 shares in the last quarter. Norges Bank acquired a new position in Air Lease during the fourth quarter worth about $18,979,000. Finally, Geode Capital Management LLC raised its stake in Air Lease by 9.6% during the fourth quarter. Geode Capital Management LLC now owns 1,048,838 shares of the transportation company’s stock worth $31,685,000 after acquiring an additional 91,899 shares in the last quarter. Institutional investors own 86.39% 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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Analyst Recommendations for Air Lease (NYSE:AL)

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