Air Lease Corporation (NYSE:AL) Receives $66.00 Consensus Target Price from Brokerages

Shares of Air Lease Corporation (NYSE:AL) have been given a consensus rating of “Moderate Buy” by the six analysts that are covering the stock, Marketbeat Ratings reports. Three analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $66.00.

Several equities analysts have recently issued reports on AL shares. Weiss Ratings reiterated a “buy (b)” rating on shares of Air Lease in a report on Wednesday, January 21st. Zacks Research raised Air Lease from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 18th. Finally, Barclays reiterated an “equal weight” rating and set a $65.00 price objective (down from $68.00) on shares of Air Lease in a research note on Tuesday, January 6th.

Hedge Funds Weigh In On Air Lease

A number of hedge funds have recently bought and sold shares of AL. True Wealth Design LLC increased its stake in Air Lease by 2,980.0% during the 3rd quarter. True Wealth Design LLC now owns 462 shares of the transportation company’s stock valued at $29,000 after purchasing an additional 447 shares in the last quarter. Mather Group LLC. purchased a new position in Air Lease in the third quarter worth about $29,000. First Horizon Corp bought a new position in shares of Air Lease in the third quarter worth approximately $31,000. Los Angeles Capital Management LLC purchased a new stake in shares of Air Lease during the fourth quarter valued at approximately $32,000. Finally, Nisa Investment Advisors LLC grew its holdings in shares of Air Lease by 129.6% during the third quarter. Nisa Investment Advisors LLC now owns 528 shares of the transportation company’s stock valued at $34,000 after buying an additional 298 shares during the last quarter. Institutional investors own 94.59% of the company’s stock.

Air Lease Stock Up 0.3%

NYSE:AL opened at $64.94 on Friday. The firm’s 50-day moving average price is $64.67 and its 200-day moving average price is $64.15. The company has a market capitalization of $7.28 billion, a PE ratio of 6.98, a P/E/G ratio of 0.53 and a beta of 1.11. The company has a debt-to-equity ratio of 2.33, a current ratio of 0.46 and a quick ratio of 0.46. Air Lease has a 1-year low of $38.25 and a 1-year high of $64.96.

Air Lease (NYSE:AL) last issued its quarterly earnings results on Thursday, February 12th. The transportation company reported $2.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.46 by $0.74. Air Lease had a net margin of 35.72% and a return on equity of 8.54%. The company had revenue of $679.54 million during the quarter, compared to analysts’ expectations of $782.67 million. During the same period last year, the company posted $0.83 EPS. Air Lease’s revenue was up 15.1% on a year-over-year basis. On average, equities analysts predict that Air Lease will post 5.16 EPS for the current fiscal year.

Air Lease Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 7th. Stockholders of record on Monday, March 2nd will be issued a dividend of $0.22 per share. The ex-dividend date is Monday, March 2nd. This represents a $0.88 annualized dividend and a dividend yield of 1.4%. Air Lease’s dividend payout ratio (DPR) is presently 9.45%.

About Air Lease

Air Lease Corporation (NYSE: AL) is a leading aircraft leasing company that acquires commercial jet aircraft and leases them to airlines worldwide. The firm’s core business activities include direct aircraft acquisition, lease management and portfolio remarketing. By structuring sale‐and‐leaseback transactions, operating leases and secured loans, Air Lease provides flexible financing solutions that enable carriers to modernize their fleets without committing large amounts of capital to ownership.

Founded in 2010 and headquartered in Los Angeles, Air Lease Corporation serves a diverse customer base spanning North America, Europe, Asia, Latin America and the Middle East.