Air Lease Corporation (NYSE:AL) Given Average Recommendation of "Hold" by Brokerages

Key Points

• Air Lease Corporation (NYSE:AL) has received an average recommendation of "Hold" from eight analysts, with one sell rating, three hold ratings, and four buy ratings.
• The company's stock recently reported a quarterly earnings of $1.40 per share, surpassing analyst estimates, and showed a revenue increase of 9.7% compared to the previous year.
• Air Lease has announced a quarterly dividend of $0.22 per share, representing an annualized yield of 1.4%, with the payout date set for October 8th.

Air Lease Corporation (NYSE:AL - Get Free Report) has been given an average recommendation of "Hold" by the eight analysts that are presently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $60.2857.

A number of brokerages have weighed in on AL. Barclays restated an "overweight" rating and issued a $67.00 price objective (up previously from $56.00) on shares of Air Lease in a report on Thursday, July 10th. Citigroup upgraded Air Lease from a "neutral" rating to a "buy" rating and raised their price objective for the company from $45.00 to $68.00 in a report on Tuesday, May 20th. TD Cowen lowered Air Lease from a "strong-buy" rating to a "hold" rating in a report on Wednesday, September 3rd. Cowen lowered Air Lease from a "buy" rating to a "hold" rating in a report on Wednesday, September 3rd. Finally, Deutsche Bank Aktiengesellschaft lowered Air Lease from a "buy" rating to a "hold" rating and set a $65.00 price objective on the stock. in a report on Wednesday, September 3rd.

Air Lease Stock Down 0.2%

Shares of NYSE AL opened at $63.57 on Wednesday. The company's 50-day simple moving average is $58.62 and its 200-day simple moving average is $53.31. Air Lease has a 52-week low of $38.25 and a 52-week high of $64.30. The firm has a market cap of $7.10 billion, a price-to-earnings ratio of 7.71, a price-to-earnings-growth ratio of 0.66 and a beta of 1.37. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 2.47.

Air Lease (NYSE:AL - Get Free Report) last announced its earnings results on Monday, August 4th. The transportation company reported $1.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.33 by $0.07. Air Lease had a net margin of 34.04% and a return on equity of 7.99%. The business had revenue of $731.70 million for the quarter, compared to analyst estimates of $723.35 million. During the same quarter last year, the business earned $1.23 earnings per share. The company's revenue for the quarter was up 9.7% compared to the same quarter last year. Equities analysts predict that Air Lease will post 5.16 EPS for the current fiscal year.

Air Lease Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 8th. Shareholders of record on Wednesday, September 3rd will be issued a $0.22 dividend. The ex-dividend date is Wednesday, September 3rd. This represents a $0.88 dividend on an annualized basis and a yield of 1.4%. Air Lease's dividend payout ratio (DPR) is presently 10.68%.

Insiders Place Their Bets

In other Air Lease news, EVP David Beker sold 2,000 shares of the firm's stock in a transaction on Thursday, August 7th. The stock was sold at an average price of $55.44, for a total value of $110,880.00. Following the transaction, the executive vice president owned 19,770 shares in the company, valued at approximately $1,096,048.80. This trade represents a 9.19% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 6.80% of the company's stock.

Hedge Funds Weigh In On Air Lease

A number of institutional investors have recently bought and sold shares of the company. Dimensional Fund Advisors LP raised its stake in Air Lease by 0.5% during the first quarter. Dimensional Fund Advisors LP now owns 6,592,510 shares of the transportation company's stock worth $318,479,000 after purchasing an additional 31,274 shares during the period. Wellington Management Group LLP grew its holdings in shares of Air Lease by 1.3% during the 1st quarter. Wellington Management Group LLP now owns 5,453,859 shares of the transportation company's stock worth $263,476,000 after purchasing an additional 69,629 shares during the period. JPMorgan Chase & Co. grew its holdings in shares of Air Lease by 1.2% during the 1st quarter. JPMorgan Chase & Co. now owns 5,025,421 shares of the transportation company's stock worth $242,778,000 after purchasing an additional 60,216 shares during the period. Allspring Global Investments Holdings LLC grew its holdings in shares of Air Lease by 7.9% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 3,619,226 shares of the transportation company's stock worth $211,797,000 after purchasing an additional 265,423 shares during the period. Finally, American Century Companies Inc. grew its holdings in shares of Air Lease by 10.4% during the 1st quarter. American Century Companies Inc. now owns 3,563,297 shares of the transportation company's stock worth $172,143,000 after purchasing an additional 336,376 shares during the period. 94.59% of the stock is owned by hedge funds and other institutional investors.

About Air Lease

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.

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