Air Lease Corp (NYSE:AL) Expected to Post Quarterly Sales of $536.30 Million

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Wall Street brokerages expect Air Lease Corp (NYSE:AL) to announce $536.30 million in sales for the current quarter, Zacks reports. Three analysts have made estimates for Air Lease’s earnings. The lowest sales estimate is $512.70 million and the highest is $548.74 million. Air Lease posted sales of $449.98 million in the same quarter last year, which suggests a positive year over year growth rate of 19.2%. The company is scheduled to report its next quarterly earnings report on Thursday, February 20th.

According to Zacks, analysts expect that Air Lease will report full-year sales of $2.00 billion for the current fiscal year, with estimates ranging from $1.98 billion to $2.02 billion. For the next year, analysts forecast that the firm will report sales of $2.52 billion, with estimates ranging from $2.35 billion to $2.64 billion. Zacks’ sales calculations are a mean average based on a survey of research firms that that provide coverage for Air Lease.

Air Lease (NYSE:AL) last posted its earnings results on Thursday, November 7th. The transportation company reported $1.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.29 by $0.05. The company had revenue of $531.00 million during the quarter, compared to the consensus estimate of $525.63 million. Air Lease had a net margin of 29.22% and a return on equity of 10.81%. The firm’s quarterly revenue was up 17.8% on a year-over-year basis. During the same period in the previous year, the firm posted $1.73 earnings per share.

Separately, ValuEngine downgraded shares of Air Lease from a “hold” rating to a “sell” rating in a research report on Tuesday, October 29th. Two research analysts have rated the stock with a sell rating and two have given a buy rating to the company’s stock. Air Lease presently has a consensus rating of “Hold” and an average price target of $48.00.

In other Air Lease news, EVP Grant A. Levy sold 18,000 shares of Air Lease stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $45.30, for a total value of $815,400.00. Following the completion of the transaction, the executive vice president now owns 176,373 shares of the company’s stock, valued at $7,989,696.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Carol Hyland Forsyte sold 10,691 shares of Air Lease stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $45.64, for a total transaction of $487,937.24. Following the completion of the transaction, the executive vice president now directly owns 41,656 shares of the company’s stock, valued at approximately $1,901,179.84. The disclosure for this sale can be found here. Insiders sold 378,950 shares of company stock valued at $17,129,296 in the last ninety days. 8.76% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. boosted its position in shares of Air Lease by 2.0% in the second quarter. Charles Schwab Investment Management Inc. now owns 843,127 shares of the transportation company’s stock worth $34,855,000 after acquiring an additional 16,320 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. acquired a new position in Air Lease during the third quarter worth $1,481,000. Provident Investment Management Inc. raised its stake in Air Lease by 0.6% during the second quarter. Provident Investment Management Inc. now owns 915,606 shares of the transportation company’s stock worth $37,851,000 after acquiring an additional 5,393 shares in the last quarter. Huntington National Bank raised its stake in Air Lease by 9.2% during the third quarter. Huntington National Bank now owns 156,275 shares of the transportation company’s stock worth $6,536,000 after acquiring an additional 13,170 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Air Lease by 8.7% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,093 shares of the transportation company’s stock worth $293,000 after acquiring an additional 569 shares in the last quarter. 91.16% of the stock is owned by institutional investors.

NYSE AL traded down $0.25 on Friday, reaching $47.20. 564,964 shares of the company’s stock traded hands, compared to its average volume of 477,415. The firm has a market cap of $5.35 billion, a price-to-earnings ratio of 9.66, a P/E/G ratio of 1.03 and a beta of 1.87. The stock has a 50 day moving average price of $45.71 and a 200-day moving average price of $41.86. Air Lease has a fifty-two week low of $28.13 and a fifty-two week high of $47.89. The company has a debt-to-equity ratio of 2.52, a quick ratio of 0.80 and a current ratio of 0.80.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 6th. Shareholders of record on Friday, December 20th will be issued a $0.15 dividend. This is a boost from Air Lease’s previous quarterly dividend of $0.13. The ex-dividend date of this dividend is Thursday, December 19th. This represents a $0.60 dividend on an annualized basis and a yield of 1.27%. Air Lease’s payout ratio is presently 11.30%.

Air Lease Company Profile

Air Lease Corporation, an aircraft leasing company, engages in the purchase and leasing of commercial jet transport aircraft to airlines worldwide. The company also sells aircraft from its operating lease portfolio to third parties, including other leasing companies, financial services companies, and airlines.

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