Air Lease (NYSE:AL) Posts Quarterly Earnings Results, Beats Estimates By $0.03 EPS

Air Lease (NYSE:AL) issued its quarterly earnings data on Thursday. The transportation company reported $1.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.15 by $0.03, reports. Air Lease had a net margin of 20.85% and a return on equity of 8.97%. The business had revenue of $690.16 million during the quarter, compared to analyst estimates of $681.71 million.

Air Lease Stock Performance

Shares of Air Lease stock opened at $47.09 on Friday. The company has a market cap of $5.24 billion, a P/E ratio of 10.73, a PEG ratio of 1.32 and a beta of 1.59. The company has a current ratio of 0.50, a quick ratio of 0.50 and a debt-to-equity ratio of 2.69. The business has a 50-day moving average price of $44.38 and a two-hundred day moving average price of $46.29. Air Lease has a 1-year low of $36.37 and a 1-year high of $52.31.

Air Lease Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Investors of record on Thursday, December 12th will be paid a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 1.87%. The ex-dividend date is Thursday, December 12th. This is an increase from Air Lease’s previous quarterly dividend of $0.21. Air Lease’s dividend payout ratio (DPR) is currently 19.13%.

Institutional Investors Weigh In On Air Lease

A number of hedge funds have recently added to or reduced their stakes in AL. Eastern Bank bought a new stake in Air Lease in the third quarter valued at $27,000. Altshuler Shaham Ltd bought a new stake in Air Lease in the 2nd quarter valued at about $29,000. GAMMA Investing LLC raised its stake in Air Lease by 108.1% during the 2nd quarter. GAMMA Investing LLC now owns 1,201 shares of the transportation company’s stock worth $57,000 after buying an additional 624 shares during the period. Hilltop National Bank boosted its holdings in Air Lease by 33.8% in the second quarter. Hilltop National Bank now owns 1,775 shares of the transportation company’s stock worth $84,000 after acquiring an additional 448 shares in the last quarter. Finally, Monetary Management Group Inc. acquired a new stake in Air Lease in the second quarter valued at approximately $95,000. 94.59% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have issued reports on AL shares. Barclays decreased their price target on shares of Air Lease from $55.00 to $54.00 and set an “overweight” rating for the company in a research report on Friday, August 2nd. TD Cowen assumed coverage on Air Lease in a research report on Monday, July 29th. They set a “buy” rating and a $58.00 target price for the company. Finally, JPMorgan Chase & Co. cut their target price on Air Lease from $54.00 to $52.00 and set an “overweight” rating on the stock in a report on Monday, August 5th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price 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.