Air Lease (NYSE:AL) Now Covered by Analysts at Citigroup

Posted by Defense World Staff on May 16th, 2023

Citigroup assumed coverage on shares of Air Lease (NYSE:AL – Get Rating) in a research note issued to investors on Monday, The Fly reports. The firm issued a neutral rating and a $41.00 target price on the transportation company’s stock.

A number of other analysts also recently issued reports on the company. StockNews.com downgraded Air Lease from a buy rating to a hold rating in a report on Wednesday, March 29th. The Goldman Sachs Group initiated coverage on Air Lease in a report on Tuesday, February 28th. They issued a buy rating and a $59.00 target price for the company. Finally, Credit Suisse Group reissued an outperform rating and issued a $55.00 target price on shares of Air Lease in a report on Friday, February 17th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, Air Lease currently has an average rating of Moderate Buy and a consensus target price of $51.75.

Air Lease Trading Up 1.2 %

NYSE:AL opened at $38.54 on Monday. The firm has a market cap of $4.28 billion, a PE ratio of 9.35, a price-to-earnings-growth ratio of 0.56 and a beta of 1.77. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 2.88. The stock has a fifty day moving average price of $38.66 and a 200 day moving average price of $39.72. Air Lease has a 12-month low of $29.75 and a 12-month high of $46.20.

Air Lease (NYSE:AL – Get Rating) last announced its quarterly earnings results on Thursday, February 16th. The transportation company reported $1.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.05 by $0.16. The company had revenue of $601.61 million during the quarter, compared to the consensus estimate of $598.62 million. Air Lease had a return on equity of 7.60% and a net margin of 21.25%. Sell-side analysts anticipate that Air Lease will post 4.77 earnings per share for the current fiscal year.

Air Lease Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 7th. Investors of record on Tuesday, June 6th will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 2.08%. The ex-dividend date of this dividend is Monday, June 5th. Air Lease’s dividend payout ratio (DPR) is presently 19.42%.

Hedge Funds Weigh In On Air Lease

Several institutional investors have recently added to or reduced their stakes in the stock. Schonfeld Strategic Advisors LLC acquired a new position in Air Lease in the 1st quarter valued at about $488,000. Cubist Systematic Strategies LLC increased its position in Air Lease by 556.3% in the 1st quarter. Cubist Systematic Strategies LLC now owns 119,224 shares of the transportation company’s stock valued at $4,694,000 after acquiring an additional 101,057 shares during the period. Maverick Capital Ltd. increased its position in Air Lease by 32.6% in the 1st quarter. Maverick Capital Ltd. now owns 11,230 shares of the transportation company’s stock valued at $442,000 after acquiring an additional 2,759 shares during the period. Gotham Asset Management LLC increased its position in Air Lease by 39.7% in the 1st quarter. Gotham Asset Management LLC now owns 58,979 shares of the transportation company’s stock valued at $2,322,000 after acquiring an additional 16,772 shares during the period. Finally, Ensign Peak Advisors Inc increased its position in Air Lease by 0.5% in the 1st quarter. Ensign Peak Advisors Inc now owns 1,037,138 shares of the transportation company’s stock valued at $40,832,000 after acquiring an additional 5,022 shares during the period. Institutional investors and hedge funds own 88.77% of the company’s stock.

Air Lease Company Profile

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Air Lease Corp. engages in the provision of aircraft leasing business. It focuses on purchasing new commercial jet transport aircraft directly from aircraft manufacturers, and leasing those aircraft to airlines throughout the world with the intention to generate attractive returns on equity. The company was founded by Steven F.