Air Lease (NYSE:AL) Releases 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) posted its earnings results on Monday. The transportation company reported $1.40 EPS for the quarter, topping the consensus estimate of $1.33 by $0.07, Briefing.com reports. The business had revenue of $731.70 million during the quarter, compared to the consensus estimate of $723.35 million. Air Lease had a return on equity of 8.04% and a net margin of 24.77%. Air Lease's revenue was up 9.7% on a year-over-year basis. During the same quarter last year, the company earned $1.23 EPS.

Air Lease Stock Up 1.4%

Air Lease stock opened at $55.12 on Tuesday. The company has a 50-day simple moving average of $57.57 and a 200-day simple moving average of $51.11. The firm has a market capitalization of $6.16 billion, a P/E ratio of 9.64, a P/E/G ratio of 0.59 and a beta of 1.41. The company has a debt-to-equity ratio of 2.53, a quick ratio of 0.39 and a current ratio of 0.39. Air Lease has a one year low of $38.25 and a one year high of $60.41.

Air Lease Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 8th. Shareholders of record on Wednesday, September 3rd will be paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 1.6%. Air Lease's payout ratio is 15.38%.

Insider Buying and Selling

In other news, EVP Grant A. Levy sold 10,000 shares of the business's stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $56.85, for a total value of $568,500.00. Following the sale, the executive vice president owned 146,316 shares in the company, valued at approximately $8,318,064.60. The trade was a 6.40% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 6.64% of the company's stock.

Hedge Funds Weigh In On Air Lease

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

Wall Street Analysts Forecast Growth

AL has been the subject of several recent research reports. Citigroup raised Air Lease from a "neutral" rating to a "buy" rating and increased their price target for the company 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 report on Wednesday, May 7th. Finally, Barclays reaffirmed an "overweight" rating and set a $67.00 target price (up from $56.00) on shares of Air Lease in a report on Thursday, July 10th. One investment analyst has rated the stock with a sell rating and five have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price 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.