Air Lease Co. (NYSE:AL) Plans $0.21 Quarterly Dividend

Air Lease Co. (NYSE:AL) declared a quarterly dividend on Tuesday, May 7th, Wall Street Journal reports. Stockholders of record on Tuesday, June 4th will be paid a dividend of 0.21 per share by the transportation company on Monday, July 8th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.76%. The ex-dividend date is Tuesday, June 4th.

Air Lease has increased its dividend payment by an average of 9.9% per year over the last three years and has increased its dividend every year for the last 12 years. Air Lease has a dividend payout ratio of 15.6% meaning its dividend is sufficiently covered by earnings. Analysts expect Air Lease to earn $7.61 per share next year, which means the company should continue to be able to cover its $0.84 annual dividend with an expected future payout ratio of 11.0%.

Air Lease Stock Performance

Shares of Air Lease stock traded down $3.76 during trading on Tuesday, reaching $47.79. The company’s stock had a trading volume of 3,284,281 shares, compared to its average volume of 1,314,940. The company has a 50-day moving average price of $47.93 and a two-hundred day moving average price of $42.52. The firm has a market cap of $5.32 billion, a PE ratio of 9.07, a P/E/G ratio of 0.64 and a beta of 1.63. Air Lease has a fifty-two week low of $33.33 and a fifty-two week high of $52.31. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 2.68.

Air Lease (NYSE:AL) last posted its quarterly earnings data on Monday, May 6th. The transportation company reported $0.87 earnings per share for the quarter, missing analysts’ consensus estimates of $1.30 by ($0.43). Air Lease had a net margin of 22.89% and a return on equity of 8.87%. The firm had revenue of $663.31 million during the quarter, compared to analysts’ expectations of $677.26 million. During the same quarter last year, the business earned $1.06 earnings per share. The business’s quarterly revenue was up 4.3% on a year-over-year basis. On average, analysts forecast that Air Lease will post 6.22 EPS for the current year.

Wall Street Analysts Forecast Growth

AL has been the topic of several research analyst reports. Barclays boosted their target price on shares of Air Lease from $48.00 to $55.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 16th. TD Cowen decreased their price objective on shares of Air Lease from $59.00 to $56.00 and set a “buy” rating on the stock in a research report on Tuesday. BMO Capital Markets boosted their price objective on shares of Air Lease from $54.00 to $55.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 20th. Finally, StockNews.com lowered shares of Air Lease from a “buy” rating to a “hold” rating in a research report on Friday, March 29th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $53.80.

Insiders Place Their Bets

In other Air Lease news, EVP Carol Hyland Forsyte sold 3,046 shares of the stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $40.02, for a total value of $121,900.92. Following the sale, the executive vice president now directly owns 72,073 shares of the company’s stock, valued at $2,884,361.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, CEO John L. Plueger sold 28,515 shares of the firm’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $40.06, for a total transaction of $1,142,310.90. Following the transaction, the chief executive officer now directly owns 808,842 shares of the company’s stock, valued at $32,402,210.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Carol Hyland Forsyte sold 3,046 shares of the firm’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $40.02, for a total value of $121,900.92. Following the transaction, the executive vice president now directly owns 72,073 shares in the company, valued at $2,884,361.46. The disclosure for this sale can be found here. Insiders have sold 89,646 shares of company stock valued at $3,705,152 over the last three months. Company insiders own 6.64% of the company’s stock.

About Air Lease

Air Lease Corporation, an aircraft leasing company, engages in the purchase and leasing of commercial jet aircraft to airlines worldwide. It sells aircraft from its fleet to third parties, including other leasing companies, financial services companies, airlines, and other investors. The company provides fleet management services to investors and owners of aircraft portfolios.