Air Lease (NYSE:AL) Announces Earnings Results

Air Lease (NYSE:AL) issued its quarterly earnings results on Thursday. The transportation company reported $1.34 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.29 by $0.05, Fidelity Earnings reports. Air Lease had a net margin of 30.00% and a return on equity of 11.16%. The company had revenue of $531.00 million during the quarter, compared to the consensus estimate of $525.63 million. During the same period in the prior year, the company earned $1.73 EPS. Air Lease’s revenue was up 17.8% on a year-over-year basis.

AL stock traded down $0.86 during mid-day trading on Friday, reaching $45.74. 1,282,346 shares of the stock traded hands, compared to its average volume of 808,992. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 2.43. Air Lease has a 52-week low of $28.13 and a 52-week high of $47.54. The company has a market cap of $5.22 billion, a P/E ratio of 9.94, a P/E/G ratio of 0.87 and a beta of 1.87. The stock’s fifty day moving average is $42.65 and its 200-day moving average is $40.52.

A number of research firms have commented on AL. ValuEngine lowered shares of Air Lease from a “hold” rating to a “sell” rating in a research note on Tuesday, October 29th. Cowen reaffirmed an “outperform” rating and set a $49.00 price objective (down from $50.00) on shares of Air Lease in a research note on Friday, August 9th. Finally, Zacks Investment Research lowered shares of Air Lease from a “hold” rating to a “sell” rating and set a $43.00 price objective for the company. in a research note on Friday, August 2nd. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company’s stock. Air Lease presently has an average rating of “Hold” and a consensus price target of $47.80.

In other news, insider Steven F. Udvar-Hazy sold 507,789 shares of the company’s stock in a transaction dated 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 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 filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Marc H. Baer sold 5,000 shares of the company’s stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $44.34, for a total value of $221,700.00. Following the completion of the transaction, the executive vice president now owns 130,008 shares in the company, valued at approximately $5,764,554.72. The disclosure for this sale can be found here. Insiders have sold 911,649 shares of company stock valued at $35,904,901 over the last ninety days. Insiders own 8.76% 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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Earnings History for Air Lease (NYSE:AL)

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