Air Lease Co. (NYSE:AL) Receives $53.80 Average PT from Brokerages

Air Lease Co. (NYSE:AL) has received an average recommendation of “Moderate Buy” from the five research firms that are covering the stock, Marketbeat reports. One research analyst has rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $53.80.

Several research firms have commented on AL. TD Cowen cut their price objective on Air Lease from $59.00 to $56.00 and set a “buy” rating on the stock in a research report on Tuesday, May 7th. Barclays raised their target price on Air Lease from $48.00 to $55.00 and gave the company an “overweight” rating in a research note on Tuesday, April 16th.

Hedge Funds Weigh In On Air Lease

A number of hedge funds have recently bought and sold shares of AL. Raymond James & Associates grew its stake in Air Lease by 16.1% in the fourth quarter. Raymond James & Associates now owns 421,336 shares of the transportation company’s stock worth $17,671,000 after purchasing an additional 58,393 shares in the last quarter. Raymond James Financial Services Advisors Inc. grew its stake in Air Lease by 13.1% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 25,289 shares of the transportation company’s stock worth $1,061,000 after purchasing an additional 2,930 shares in the last quarter. Reinhart Partners LLC. grew its stake in Air Lease by 11.4% in the fourth quarter. Reinhart Partners LLC. now owns 1,402,282 shares of the transportation company’s stock worth $58,812,000 after purchasing an additional 144,042 shares in the last quarter. Quent Capital LLC grew its stake in Air Lease by 10.4% in the fourth quarter. Quent Capital LLC now owns 3,798 shares of the transportation company’s stock worth $159,000 after purchasing an additional 358 shares in the last quarter. Finally, Oak Thistle LLC acquired a new position in Air Lease in the fourth quarter valued at approximately $423,000. 94.59% of the stock is currently owned by institutional investors and hedge funds.

Air Lease Trading Up 2.4 %

NYSE:AL opened at $49.47 on Friday. The business’s 50-day moving average is $47.40 and its two-hundred day moving average is $46.26. The company has a debt-to-equity ratio of 2.69, a current ratio of 0.48 and a quick ratio of 0.48. Air Lease has a 12 month low of $33.33 and a 12 month high of $52.31. The firm has a market capitalization of $5.51 billion, a PE ratio of 9.97, a price-to-earnings-growth ratio of 1.04 and a beta of 1.59.

Air Lease (NYSE:AL) last released its quarterly earnings data on Monday, May 6th. The transportation company reported $0.87 EPS for the quarter, missing the consensus estimate of $0.94 by ($0.07). Air Lease had a net margin of 21.89% and a return on equity of 9.00%. The company had revenue of $663.31 million during the quarter, compared to analysts’ expectations of $677.26 million. During the same period last year, the business earned $1.06 earnings per share. The company’s revenue for the quarter was up 4.3% compared to the same quarter last year. Research analysts predict that Air Lease will post 6.68 earnings per share for the current fiscal year.

Air Lease Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, July 8th. Stockholders of record on Tuesday, June 4th were paid a dividend of $0.21 per share. The ex-dividend date was Tuesday, June 4th. This represents a $0.84 annualized dividend and a dividend yield of 1.70%. Air Lease’s dividend payout ratio is presently 16.94%.

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.