Air Lease Co. (NYSE:AL) Announces $0.22 Quarterly Dividend

Air Lease Co. (NYSE:AL - Get Free Report) declared a quarterly dividend on Monday, May 5th, RTT News reports. Stockholders of record on Wednesday, June 4th will be given a dividend of 0.22 per share by the transportation company on Wednesday, July 9th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.64%. The ex-dividend date is Wednesday, June 4th.

Air Lease has increased its dividend by an average of 8.5% per year over the last three years and has increased its dividend annually for the last 13 consecutive years. Air Lease has a dividend payout ratio of 17.2% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Air Lease to earn $7.28 per share next year, which means the company should continue to be able to cover its $0.88 annual dividend with an expected future payout ratio of 12.1%.

Air Lease Stock Performance

AL traded up $0.01 on Friday, hitting $53.63. 1,251,314 shares of the company's stock were exchanged, compared to its average volume of 767,713. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 2.68. The stock has a fifty day moving average of $45.93 and a two-hundred day moving average of $47.14. Air Lease has a twelve month low of $38.25 and a twelve month high of $54.70. The firm has a market cap of $5.99 billion, a PE ratio of 16.11, a P/E/G ratio of 1.33 and a beta of 1.33.

Air Lease (NYSE:AL - Get Free Report) last announced its quarterly earnings results on Monday, May 5th. The transportation company reported $1.51 earnings per share for the quarter, topping analysts' consensus estimates of $1.24 by $0.27. The business had revenue of $738.28 million for the quarter, compared to analysts' expectations of $709.70 million. Air Lease had a return on equity of 8.01% and a net margin of 15.65%. The business's quarterly revenue was up 11.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.87 EPS. On average, research analysts anticipate that Air Lease will post 5.16 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. UBS Group set a $50.00 price target on shares of Air Lease in a report on Friday, March 7th. JPMorgan Chase & Co. upped their target price on shares of Air Lease from $56.00 to $57.00 and gave the stock an "overweight" rating in a research report on Tuesday, February 18th. StockNews.com upgraded shares of Air Lease from a "hold" rating to a "buy" rating in a research note on Wednesday. Finally, Bank of America downgraded Air Lease from a "buy" rating to an "underperform" rating and reduced their price objective for the stock from $72.00 to $50.00 in a research report on Friday, March 7th. One research analyst has rated the stock with a sell rating and five have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $55.67.

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.