Air Lease Corp (NYSE:AL) Expected to Announce Quarterly Sales of $466.11 Million

Equities research analysts predict that Air Lease Corp (NYSE:AL) will post sales of $466.11 million for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for Air Lease’s earnings. The highest sales estimate is $513.35 million and the lowest is $418.87 million. Air Lease reported sales of $471.40 million in the same quarter last year, which indicates a negative year-over-year growth rate of 1.1%. The company is expected to announce its next earnings results on Thursday, August 13th.

According to Zacks, analysts expect that Air Lease will report full-year sales of $1.98 billion for the current year, with estimates ranging from $1.85 billion to $2.11 billion. For the next financial year, analysts forecast that the business will post sales of $2.31 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that cover Air Lease.

Air Lease (NYSE:AL) last issued its quarterly earnings data on Thursday, May 7th. The transportation company reported $1.17 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.28 by ($0.11). The business had revenue of $511.39 million during the quarter, compared to the consensus estimate of $526.71 million. Air Lease had a return on equity of 10.60% and a net margin of 28.42%. The company’s revenue for the quarter was up 9.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.67 earnings per share.

AL has been the subject of a number of research analyst reports. TheStreet lowered shares of Air Lease from a “b-” rating to a “c” rating in a research report on Monday, March 16th. ValuEngine lowered shares of Air Lease from a “sell” rating to a “strong sell” rating in a research report on Friday, April 17th. Credit Suisse Group reissued a “buy” rating and set a $38.00 target price on shares of Air Lease in a research report on Friday, May 8th. Deutsche Bank cut their target price on shares of Air Lease from $45.00 to $36.00 and set a “buy” rating for the company in a research report on Monday, May 11th. Finally, Barclays reissued a “buy” rating and set a $29.00 target price on shares of Air Lease in a research report on Wednesday, March 18th. Two research analysts have rated the stock with a sell rating and four have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $39.40.

Shares of NYSE:AL opened at $29.40 on Tuesday. The stock has a market capitalization of $3.18 billion, a PE ratio of 5.84, a P/E/G ratio of 2.31 and a beta of 2.05. Air Lease has a 1 year low of $8.41 and a 1 year high of $49.96. The firm has a fifty day moving average price of $29.24 and a 200 day moving average price of $34.35. The company has a current ratio of 1.53, a quick ratio of 1.53 and a debt-to-equity ratio of 2.51.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 9th. Stockholders of record on Friday, June 5th will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.04%. The ex-dividend date is Thursday, June 4th. Air Lease’s dividend payout ratio is currently 11.79%.

In related news, Chairman Steven F. Udvar-Hazy sold 56,000 shares of the stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $32.56, for a total value of $1,823,360.00. Following the completion of the transaction, the chairman now owns 1,368,782 shares of the company’s stock, valued at $44,567,541.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jie Chen sold 40,000 shares of the stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $29.00, for a total transaction of $1,160,000.00. The disclosure for this sale can be found here. 6.88% of the stock is currently owned by corporate insiders.

Large investors have recently bought and sold shares of the stock. Ancora Advisors LLC bought a new stake in Air Lease during the fourth quarter worth about $38,000. Deutsche Bank AG grew its stake in Air Lease by 230.0% during the first quarter. Deutsche Bank AG now owns 276,163 shares of the transportation company’s stock worth $6,114,000 after buying an additional 192,466 shares during the last quarter. Credit Suisse AG grew its stake in Air Lease by 22.9% during the fourth quarter. Credit Suisse AG now owns 88,765 shares of the transportation company’s stock worth $4,218,000 after buying an additional 16,543 shares during the last quarter. WINTON GROUP Ltd bought a new stake in Air Lease during the first quarter worth about $524,000. Finally, Wells Fargo & Company MN grew its stake in Air Lease by 8.2% during the first quarter. Wells Fargo & Company MN now owns 1,026,939 shares of the transportation company’s stock worth $22,737,000 after buying an additional 77,812 shares during the last quarter. 91.44% of the stock is owned by hedge funds and other institutional investors.

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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