Air Lease Corporation Declares Quarterly Dividend of $0.22 (NYSE:AL)

Key Points

• Air Lease Corporation has announced a quarterly dividend of $0.22 per share, with an annualized yield of 1.6%, payable on October 8th to investors of record on September 3rd.
• The company reported earnings of $1.29 per share for the last quarter, falling short of the $1.33 forecast by analysts, with a return on equity of 8.04%.
• Insider selling was noted as EVP Grant A. Levy sold 10,000 shares at an average price of $56.85, leading to a 6.40% decrease in his holdings.

Air Lease Corporation (NYSE:AL - Get Free Report) announced a quarterly dividend on Monday, August 4th, RTT News reports. Stockholders of record on Wednesday, September 3rd will be paid a dividend of 0.22 per share by the transportation company on Wednesday, October 8th. This represents a c) annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend is Wednesday, September 3rd.

Air Lease has a payout ratio of 17.0% meaning 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

Shares of Air Lease stock traded up $0.74 during midday trading on Friday, hitting $56.01. The company had a trading volume of 162,392 shares, compared to its average volume of 851,821. The business's 50 day simple moving average is $57.38 and its two-hundred day simple moving average is $51.22. The stock has a market cap of $6.26 billion, a PE ratio of 6.80, a P/E/G ratio of 0.59 and a beta of 1.41. The company has a debt-to-equity ratio of 2.47, a current ratio of 0.42 and a quick ratio of 0.39. Air Lease has a 1-year low of $38.25 and a 1-year high of $60.41.

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

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Barclays reissued an "overweight" rating and set a $67.00 price objective (up from $56.00) on shares of Air Lease in a report on Thursday, July 10th. Citigroup raised Air Lease from a "neutral" rating to a "buy" rating and lifted their price objective for the company from $45.00 to $68.00 in a report on Tuesday, May 20th. Finally, Wall Street Zen raised Air Lease from a "hold" rating to a "buy" rating in a report on Wednesday, May 7th. One research analyst has rated the stock with a sell rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, Air Lease has a consensus rating of "Moderate Buy" and an average price target of $59.50.

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.