Air Lease Corporation, an aircraft leasing company, engages in the purchase and leasing of commercial jet aircraft to airlines worldwide. It also sells aircraft from its operating lease portfolio to third parties, including other leasing companies, financial services companies, airlines, and other investors. In addition, the company provides fleet management services to investors and owners of aircraft portfolios. As of December 31, 2021, it owned a fleet of 382 aircraft, including 278 narrowbody aircraft and 104 widebody aircraft. The company was incorporated in 2010 and is headquartered in Los Angeles, California.
Analyst Ratings Changes
Separately, Barclays decreased their price target on shares of Air Lease from $61.00 to $55.00 and set an "overweight" rating on the stock in a research note on Wednesday, July 13th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $52.67.
Air Lease Stock Up 0.6 %
AL opened at $40.30 on Tuesday. Air Lease has a fifty-two week low of $29.75 and a fifty-two week high of $50.99. The company has a debt-to-equity ratio of 2.85, a current ratio of 1.64 and a quick ratio of 1.64. The firm's fifty day moving average price is $34.62 and its two-hundred day moving average price is $38.48. The company has a market capitalization of $4.47 billion, a P/E ratio of -35.04 and a beta of 1.84.
Air Lease (NYSE:AL - Get Rating) last posted its quarterly earnings results on Thursday, August 4th. The transportation company reported $0.95 earnings per share for the quarter, missing analysts' consensus estimates of $1.05 by ($0.10). Air Lease had a positive return on equity of 7.88% and a negative net margin of 4.99%. The business had revenue of $557.70 million for the quarter, compared to analyst estimates of $542.23 million. During the same quarter in the prior year, the firm earned $0.75 EPS. The firm's quarterly revenue was up 13.4% on a year-over-year basis. On average, analysts anticipate that Air Lease will post -1.2 EPS for the current year.
Air Lease Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Friday, October 7th. Stockholders of record on Monday, September 12th will be paid a $0.185 dividend. The ex-dividend date is Friday, September 9th. This represents a $0.74 annualized dividend and a dividend yield of 1.84%. Air Lease's dividend payout ratio is presently -64.35%.