Brokerages Anticipate Air Lease Co. (NYSE:AL) Will Announce Quarterly Sales of $576.09 Million

Brokerages expect Air Lease Co. (NYSE:ALGet Rating) to announce sales of $576.09 million for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for Air Lease’s earnings, with the highest sales estimate coming in at $589.33 million and the lowest estimate coming in at $562.85 million. Air Lease reported sales of $491.88 million during the same quarter last year, which indicates a positive year over year growth rate of 17.1%. The business is scheduled to issue its next quarterly earnings results on Monday, January 1st.

On average, analysts expect that Air Lease will report full year sales of $2.39 billion for the current fiscal year, with estimates ranging from $2.35 billion to $2.44 billion. For the next financial year, analysts expect that the business will report sales of $2.71 billion, with estimates ranging from $2.66 billion to $2.76 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that cover Air Lease.

Air Lease (NYSE:ALGet Rating) last announced its quarterly earnings results on Thursday, May 5th. The transportation company reported $1.36 earnings per share for the quarter, beating analysts’ consensus estimates of $1.04 by $0.32. Air Lease had a negative net margin of 6.17% and a positive return on equity of 7.52%. The business had revenue of $596.66 million during the quarter, compared to analysts’ expectations of $558.83 million. During the same period last year, the business earned $0.70 earnings per share. The business’s revenue for the quarter was up 25.7% on a year-over-year basis.

Several research analysts have recently commented on AL shares. StockNews.com started coverage on shares of Air Lease in a research note on Thursday, March 31st. They issued a “hold” rating for the company. Credit Suisse Group raised their price objective on shares of Air Lease from $50.00 to $53.00 and gave the company an “outperform” rating in a research note on Friday, February 11th. Zacks Investment Research lowered shares of Air Lease from a “buy” rating to a “hold” rating and set a $46.00 price objective for the company. in a research note on Tuesday, April 26th. Finally, HSBC started coverage on shares of Air Lease in a research note on Tuesday, March 15th. They issued a “buy” rating and a $50.00 price target for the company. Two investment analysts have 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 an average rating of “Buy” and an average target price of $52.50.

NYSE AL opened at $35.72 on Thursday. The firm has a 50 day simple moving average of $40.97 and a 200-day simple moving average of $42.11. The company has a debt-to-equity ratio of 2.80, a quick ratio of 2.78 and a current ratio of 2.78. Air Lease has a one year low of $33.11 and a one year high of $50.99. The firm has a market cap of $3.96 billion, a price-to-earnings ratio of -26.46, a PEG ratio of 4.63 and a beta of 1.90.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 8th. Stockholders of record on Tuesday, June 7th will be given a dividend of $0.185 per share. The ex-dividend date is Monday, June 6th. This represents a $0.74 annualized dividend and a dividend yield of 2.07%. Air Lease’s dividend payout ratio is presently -54.81%.

In related news, Chairman Steven F. Udvar-Hazy acquired 3,000 shares of Air Lease stock in a transaction dated Wednesday, May 11th. The stock was acquired at an average price of $35.60 per share, for a total transaction of $106,800.00. Following the transaction, the chairman now owns 1,204,558 shares of the company’s stock, valued at $42,882,264.80. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 6.57% of the stock is currently owned by insiders.

Institutional investors have recently made changes to their positions in the company. Exchange Traded Concepts LLC increased its holdings in shares of Air Lease by 138.1% in the 1st quarter. Exchange Traded Concepts LLC now owns 974 shares of the transportation company’s stock valued at $43,000 after acquiring an additional 565 shares during the period. Covestor Ltd acquired a new position in shares of Air Lease in the 4th quarter valued at $65,000. Lazard Asset Management LLC acquired a new position in Air Lease in the 1st quarter valued at $66,000. Wellington Shields Capital Management LLC acquired a new position in Air Lease in the 1st quarter valued at $89,000. Finally, Metropolitan Life Insurance Co NY acquired a new position in Air Lease in the 4th quarter valued at $94,000. 86.00% of the stock is currently owned by institutional investors and hedge funds.

Air Lease Company Profile (Get Rating)

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.

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