Air Lease (NYSE:AL) Posts Earnings Results, Beats Estimates By $0.03 EPS

Air Lease (NYSE:AL) announced its quarterly earnings data on Thursday. The transportation company reported $1.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.15 by $0.03, reports. The company had revenue of $690.16 million during the quarter, compared to the consensus estimate of $681.71 million. Air Lease had a return on equity of 8.97% and a net margin of 20.85%.

Air Lease Stock Down 0.5 %

Shares of AL opened at $47.09 on Friday. Air Lease has a 1 year low of $36.37 and a 1 year high of $52.31. The company has a debt-to-equity ratio of 2.69, a current ratio of 0.50 and a quick ratio of 0.50. The business’s 50 day simple moving average is $44.38 and its 200-day simple moving average is $46.26. The stock has a market capitalization of $5.24 billion, a price-to-earnings ratio of 10.08, a price-to-earnings-growth ratio of 1.41 and a beta of 1.59.

Air Lease Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 9th. Stockholders of record on Thursday, December 12th will be issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 1.87%. This is a boost from Air Lease’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend is Thursday, December 12th. Air Lease’s dividend payout ratio is 17.99%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in shares of Air Lease by 23.6% in the first quarter. Vanguard Group Inc. now owns 12,578,106 shares of the transportation company’s stock valued at $647,018,000 after acquiring an additional 2,404,649 shares during the period. Royce & Associates LP raised its position in Air Lease by 2.5% in the 3rd quarter. Royce & Associates LP now owns 2,875,522 shares of the transportation company’s stock worth $130,232,000 after purchasing an additional 70,299 shares during the period. American Century Companies Inc. lifted its stake in Air Lease by 5.0% in the second quarter. American Century Companies Inc. now owns 2,433,676 shares of the transportation company’s stock worth $115,673,000 after purchasing an additional 115,293 shares during the last quarter. Earnest Partners LLC boosted its position in shares of Air Lease by 7.4% during the second quarter. Earnest Partners LLC now owns 2,269,280 shares of the transportation company’s stock valued at $107,859,000 after buying an additional 155,665 shares during the period. Finally, Allspring Global Investments Holdings LLC grew its stake in shares of Air Lease by 5.0% during the second quarter. Allspring Global Investments Holdings LLC now owns 2,119,561 shares of the transportation company’s stock valued at $100,743,000 after buying an additional 101,568 shares during the last quarter. Hedge funds and other institutional investors own 94.59% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on AL. JPMorgan Chase & Co. dropped their price target on Air Lease from $54.00 to $52.00 and set an “overweight” rating for the company in a research note on Monday, August 5th. TD Cowen began coverage on Air Lease in a research note on Monday, July 29th. They issued a “buy” rating and a $58.00 price target for the company. Finally, Barclays dropped their price target on Air Lease from $55.00 to $54.00 and set an “overweight” rating for the company in a research note on Friday, August 2nd. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $54.75.

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.