Shares of Air Lease Co. (NYSE:AL - Get Free Report) hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $52.89 and last traded at $52.59, with a volume of 2597282 shares traded. The stock had previously closed at $48.76.
Analyst Ratings Changes
AL has been the topic of several research reports. UBS Group set a $50.00 target price on Air Lease in a research report on Friday, March 7th. Bank of America lowered Air Lease from a "buy" rating to an "underperform" rating and decreased their price objective for the company from $72.00 to $50.00 in a report on Friday, March 7th. Finally, JPMorgan Chase & Co. lifted their target price on Air Lease from $56.00 to $57.00 and gave the stock an "overweight" rating in a report on Tuesday, February 18th. One research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat, Air Lease presently has a consensus rating of "Moderate Buy" and an average price target of $55.67.
Check Out Our Latest Stock Analysis on Air Lease
Air Lease Stock Performance
The stock has a market cap of $5.88 billion, a P/E ratio of 15.79, a price-to-earnings-growth ratio of 1.33 and a beta of 1.33. 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 50 day simple moving average of $45.50 and a 200 day simple moving average of $46.94.
Air Lease (NYSE:AL - Get Free Report) last posted its quarterly earnings results on Monday, May 5th. The transportation company reported $1.51 EPS for the quarter, beating analysts' consensus estimates of $1.24 by $0.27. The business had revenue of $738.28 million during the quarter, compared to the consensus estimate of $709.70 million. Air Lease had a return on equity of 8.01% and a net margin of 15.65%. During the same quarter in the previous year, the firm earned $0.87 earnings per share. Air Lease's revenue for the quarter was up 11.3% compared to the same quarter last year. On average, equities analysts expect that Air Lease Co. will post 5.16 earnings per share for the current year.
Air Lease Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 9th. Investors of record on Wednesday, June 4th will be paid a $0.22 dividend. The ex-dividend date is Wednesday, June 4th. This represents a $0.88 dividend on an annualized basis and a yield of 1.67%. Air Lease's dividend payout ratio (DPR) is 26.43%.
Institutional Investors Weigh In On Air Lease
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Wellington Management Group LLP lifted its stake in Air Lease by 7.2% in the 4th quarter. Wellington Management Group LLP now owns 5,384,230 shares of the transportation company's stock valued at $259,574,000 after purchasing an additional 362,585 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its stake in shares of Air Lease by 19.7% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 3,353,803 shares of the transportation company's stock valued at $162,492,000 after acquiring an additional 553,080 shares during the last quarter. American Century Companies Inc. boosted its holdings in shares of Air Lease by 13.7% during the 4th quarter. American Century Companies Inc. now owns 3,226,921 shares of the transportation company's stock valued at $155,570,000 after acquiring an additional 389,070 shares in the last quarter. Earnest Partners LLC grew its position in Air Lease by 0.4% during the 4th quarter. Earnest Partners LLC now owns 2,577,931 shares of the transportation company's stock worth $124,282,000 after acquiring an additional 9,809 shares during the last quarter. Finally, Capital Research Global Investors increased its holdings in Air Lease by 50.7% in the 4th quarter. Capital Research Global Investors now owns 2,050,000 shares of the transportation company's stock worth $98,830,000 after purchasing an additional 690,000 shares in the last quarter. 94.59% of the stock is currently owned by institutional investors.
Air Lease Company Profile
(
Get Free Report)
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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