Air Lease Co. (NYSE:AL) Announces Dividend Increase – $0.22 Per Share

Air Lease Co. (NYSE:AL) declared a quarterly dividend on Friday, November 8th,Wall Street Journal reports. Stockholders of record on Thursday, December 12th will be given a dividend of 0.22 per share by the transportation company on Thursday, January 9th. This represents a $0.88 annualized dividend and a dividend yield of 1.86%. The ex-dividend date is Thursday, December 12th. This is a boost from Air Lease’s previous quarterly dividend of $0.21.

Air Lease has increased its dividend by an average of 9.9% per year over the last three years and has raised its dividend annually for the last 12 consecutive years. Air Lease has a payout ratio of 18.3% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Air Lease to earn $6.67 per share next year, which means the company should continue to be able to cover its $0.84 annual dividend with an expected future payout ratio of 12.6%.

Air Lease Stock Performance

AL stock traded up $0.08 during trading on Friday, reaching $47.40. 823,278 shares of the company’s stock were exchanged, compared to its average volume of 969,653. Air Lease has a 1-year low of $36.37 and a 1-year high of $52.31. The firm has a market cap of $5.28 billion, a PE ratio of 10.79, a P/E/G ratio of 1.32 and a beta of 1.59. The company’s fifty day moving average price is $44.36 and its 200-day moving average price is $46.31. The company has a quick ratio of 0.50, a current ratio of 0.50 and a debt-to-equity ratio of 2.69.

Air Lease (NYSE:AL) last issued its earnings results on Thursday, November 7th. The transportation company reported $1.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.15 by $0.03. 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 during the quarter, compared to analyst estimates of $681.71 million. On average, research analysts expect that Air Lease will post 4.83 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. TD Cowen initiated coverage on shares of Air Lease in a research note on Monday, July 29th. They set a “buy” rating and a $58.00 price objective on the stock. Barclays lowered their price target on Air Lease from $55.00 to $54.00 and set an “overweight” rating on the stock in a research report on Friday, August 2nd. Finally, JPMorgan Chase & Co. reduced their target price on Air Lease from $54.00 to $52.00 and set an “overweight” rating for the company in a research note on Monday, August 5th. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, Air Lease currently has a consensus rating of “Moderate Buy” and a consensus price target of $54.75.

Air Lease Company Profile

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.