$565.17 Million in Sales Expected for Air Lease Co. (NYSE:AL) This Quarter

Wall Street analysts predict that Air Lease Co. (NYSE:ALGet Rating) will post sales of $565.17 million for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for Air Lease’s earnings, with the lowest sales estimate coming in at $555.11 million and the highest estimate coming in at $575.22 million. Air Lease posted sales of $474.83 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 19%. The firm is scheduled to issue its next earnings results after the market closes on Monday, January 1st.

On average, analysts expect that Air Lease will report full year sales of $2.42 billion for the current year, with estimates ranging from $2.37 billion to $2.48 billion. For the next year, analysts forecast that the company will report sales of $2.78 billion, with estimates ranging from $2.71 billion to $2.86 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Air Lease.

Air Lease (NYSE:ALGet Rating) last announced its quarterly earnings data on Thursday, February 17th. The transportation company reported $1.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.83 by $0.41. Air Lease had a net margin of 20.45% and a return on equity of 6.44%. The company had revenue of $597.18 million during the quarter, compared to analysts’ expectations of $535.32 million. During the same quarter in the prior year, the company posted $0.94 EPS.

AL has been the subject of several research analyst reports. Credit Suisse Group upped their price target on shares of Air Lease from $50.00 to $53.00 and gave the company an “outperform” rating in a report on Friday, February 11th. Barclays raised their price objective on Air Lease from $56.00 to $61.00 and gave the company an “overweight” rating in a research report on Monday, January 10th. StockNews.com assumed coverage on Air Lease in a research note on Thursday, March 31st. They set a “hold” rating on the stock. Zacks Investment Research downgraded shares of Air Lease from a “buy” rating to a “hold” rating and set a $46.00 price target for the company. in a research report on Tuesday, April 26th. Finally, HSBC assumed coverage on Air Lease in a report on Tuesday, March 15th. They issued a “buy” rating and a $50.00 target price on the stock. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $52.50.

Several large investors have recently added to or reduced their stakes in AL. BlackRock Inc. boosted its position in Air Lease by 1.5% during the third quarter. BlackRock Inc. now owns 5,940,158 shares of the transportation company’s stock valued at $233,686,000 after buying an additional 86,620 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Air Lease by 0.5% in the 3rd quarter. Dimensional Fund Advisors LP now owns 5,929,469 shares of the transportation company’s stock valued at $233,271,000 after purchasing an additional 30,837 shares during the period. Alliancebernstein L.P. boosted its holdings in shares of Air Lease by 1.3% during the 4th quarter. Alliancebernstein L.P. now owns 1,976,942 shares of the transportation company’s stock valued at $87,440,000 after buying an additional 24,496 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new stake in shares of Air Lease in the 4th quarter worth approximately $87,018,000. Finally, FIL Ltd increased its stake in Air Lease by 2.5% during the 3rd quarter. FIL Ltd now owns 1,941,681 shares of the transportation company’s stock valued at $76,386,000 after purchasing an additional 46,843 shares in the last quarter. 86.00% of the stock is currently owned by hedge funds and other institutional investors.

AL opened at $41.15 on Thursday. The company has a debt-to-equity ratio of 2.43, a quick ratio of 1.81 and a current ratio of 1.81. Air Lease has a 52 week low of $33.41 and a 52 week high of $50.99. The firm has a market capitalization of $4.70 billion, a PE ratio of 11.56, a P/E/G ratio of 0.54 and a beta of 1.90. The company has a fifty day moving average price of $41.75 and a two-hundred day moving average price of $42.77.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 7th. Investors of record on Friday, March 18th were issued a $0.185 dividend. This represents a $0.74 annualized dividend and a yield of 1.80%. The ex-dividend date was Thursday, March 17th. Air Lease’s dividend payout ratio (DPR) is currently 20.79%.

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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