Air Lease Co. (NYSE:AL) Announces Quarterly Dividend of $0.22

Air Lease Co. (NYSE:AL) declared a quarterly dividend on Thursday, November 7th,Wall Street Journal reports. Shareholders of record on Thursday, December 12th will be paid a dividend of 0.22 per share by the transportation company on Thursday, January 9th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.87%. The ex-dividend date of this dividend is Thursday, December 12th. This is a boost from Air Lease’s previous quarterly dividend of $0.21.

Air Lease has raised its dividend payment by an average of 9.9% per year over the last three years and has raised its dividend every year for the last 12 years. Air Lease has a dividend payout ratio of 18.3% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Air Lease to earn $6.67 per share next year, which means the company should continue to be able to cover its $0.84 annual dividend with an expected future payout ratio of 12.6%.

Air Lease Price Performance

Air Lease stock opened at $47.09 on Friday. The stock’s fifty day moving average price is $44.38 and its two-hundred day moving average price is $46.29. The firm has a market cap of $5.24 billion, a PE ratio of 10.73, a price-to-earnings-growth ratio of 1.32 and a beta of 1.59. The company has a debt-to-equity ratio of 2.69, a current ratio of 0.50 and a quick ratio of 0.50. Air Lease has a one year low of $36.37 and a one year high of $52.31.

Air Lease (NYSE:AL) last issued its earnings results on Thursday, November 7th. The transportation company reported $1.18 EPS for the quarter, beating the consensus estimate of $1.15 by $0.03. Air Lease had a net margin of 20.85% and a return on equity of 8.97%. The company had revenue of $690.16 million during the quarter, compared to analysts’ expectations of $681.71 million. As a group, research analysts expect that Air Lease will post 4.83 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. JPMorgan Chase & Co. lowered their target price on Air Lease from $54.00 to $52.00 and set an “overweight” rating for the company in a report on Monday, August 5th. TD Cowen assumed coverage on Air Lease in a research note on Monday, July 29th. They issued a “buy” rating and a $58.00 price objective on the stock. Finally, Barclays lowered their price target on shares of Air Lease from $55.00 to $54.00 and set an “overweight” rating for the company in a report on Friday, August 2nd. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $54.75.

About Air Lease

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.