Air Lease (NYSE:AL) Announces Quarterly Earnings Results

Key Points

• Air Lease reported earnings of $1.29 per share, falling short of analysts' expectations by $0.04.
• Despite missing earnings projections, Air Lease's shares increased by $0.77 during trading, closing at $55.12.
• Recent institutional activity showed significant increases in ownership, with 94.59% of shares held by hedge funds and other institutional investors.

Air Lease (NYSE:AL - Get Free Report) issued its quarterly earnings results on Monday. The transportation company reported $1.40 EPS for the quarter, topping analysts' consensus estimates of $1.33 by $0.07, Briefing.com reports. The company had revenue of $731.70 million for the quarter, compared to analyst estimates of $723.35 million. Air Lease had a net margin of 34.04% and a return on equity of 7.99%. Air Lease's revenue was up 9.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.23 earnings per share.

Air Lease Stock Up 1.3%

Shares of NYSE:AL traded up $0.73 during midday trading on Friday, hitting $56.00. 140,744 shares of the company's stock were exchanged, compared to its average volume of 851,712. The company has a debt-to-equity ratio of 2.47, a current ratio of 0.42 and a quick ratio of 0.39. The stock has a 50 day moving average price of $57.38 and a 200-day moving average price of $51.22. The company has a market cap of $6.26 billion, a PE ratio of 6.80, a price-to-earnings-growth ratio of 0.59 and a beta of 1.41. Air Lease has a 12 month low of $38.25 and a 12 month high of $60.41.

Air Lease Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 8th. Stockholders of record on Wednesday, September 3rd will be given a dividend of $0.22 per share. The ex-dividend date of this dividend is Wednesday, September 3rd. This represents a $0.88 annualized dividend and a dividend yield of 1.6%. Air Lease's payout ratio is presently 10.68%.

Analyst Ratings Changes

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

Insider Activity at Air Lease

In other news, EVP Grant A. Levy sold 10,000 shares of the business's stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $56.85, for a total transaction of $568,500.00. Following the completion of the sale, the executive vice president directly owned 146,316 shares of the company's stock, valued at $8,318,064.60. The trade was a 6.40% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 6.64% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Air Lease

Institutional investors have recently modified their holdings of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Air Lease by 21.8% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 50,569 shares of the transportation company's stock valued at $2,443,000 after purchasing an additional 9,056 shares during the last quarter. Millennium Management LLC lifted its stake in Air Lease by 1,675.1% in the first quarter. Millennium Management LLC now owns 204,000 shares of the transportation company's stock valued at $9,855,000 after purchasing an additional 192,508 shares during the last quarter. Jones Financial Companies Lllp lifted its stake in Air Lease by 493.5% in the first quarter. Jones Financial Companies Lllp now owns 8,884 shares of the transportation company's stock valued at $429,000 after purchasing an additional 7,387 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in Air Lease by 5.0% in the first quarter. Goldman Sachs Group Inc. now owns 326,717 shares of the transportation company's stock valued at $15,784,000 after purchasing an additional 15,629 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Air Lease by 16.3% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 298,275 shares of the transportation company's stock valued at $14,410,000 after purchasing an additional 41,912 shares during the last quarter. 94.59% of the stock is owned by institutional investors.

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.