Key Points
- Air Lease Director Steven Udvar‑Hazy sold 42,700 shares at an average price of $64.02 for proceeds of $2,733,654, cutting his stake by 97.05% and leaving him with 1,300 shares.
- Dividend announced: the company declared a $0.22 quarterly dividend (ex‑dividend Dec 4, payable Jan 8), equal to $0.88 annually and a ~1.4% yield.
- In the most recent quarter Air Lease reported EPS of $1.29 (above the $1.16 consensus) but revenue of $725.4M missed estimates; the stock trades at a P/E of 7.41 and carries an average analyst rating of "Hold" with a $59.50 target.
Air Lease Corporation (NYSE:AL - Get Free Report) Director Steven Udvar-Hazy sold 42,700 shares of the company's stock in a transaction on Tuesday, December 9th. The stock was sold at an average price of $64.02, for a total transaction of $2,733,654.00. Following the completion of the transaction, the director directly owned 1,300 shares of the company's stock, valued at approximately $83,226. The trade was a 97.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.
Air Lease Stock Performance
Shares of Air Lease stock opened at $63.99 on Wednesday. The company has a debt-to-equity ratio of 2.42, a current ratio of 0.43 and a quick ratio of 0.43. The firm has a market cap of $7.15 billion, a price-to-earnings ratio of 7.41 and a beta of 1.19. The stock's 50-day moving average is $63.76 and its 200-day moving average is $60.71. Air Lease Corporation has a one year low of $38.25 and a one year high of $64.30.
Air Lease (NYSE:AL - Get Free Report) last announced its earnings results on Monday, November 3rd. The transportation company reported $1.29 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.16 by $0.13. Air Lease had a return on equity of 7.84% and a net margin of 35.08%.The business had revenue of $725.39 million for the quarter, compared to analyst estimates of $744.59 million. During the same quarter last year, the firm earned $0.82 EPS. Air Lease's revenue for the quarter was up 5.1% compared to the same quarter last year. Equities analysts predict that Air Lease Corporation will post 5.16 earnings per share for the current fiscal year.
Air Lease Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 8th. Stockholders of record on Thursday, December 4th will be given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend is Thursday, December 4th. Air Lease's payout ratio is currently 10.20%.
Institutional Investors Weigh In On Air Lease
A number of institutional investors and hedge funds have recently modified their holdings of AL. Archer Investment Corp grew its holdings in Air Lease by 5.1% during the third quarter. Archer Investment Corp now owns 3,415 shares of the transportation company's stock worth $217,000 after purchasing an additional 165 shares during the period. Sage Rhino Capital LLC boosted its stake in shares of Air Lease by 4.8% during the 3rd quarter. Sage Rhino Capital LLC now owns 3,982 shares of the transportation company's stock worth $253,000 after acquiring an additional 181 shares during the period. Eastern Bank increased its holdings in shares of Air Lease by 33.2% during the 3rd quarter. Eastern Bank now owns 799 shares of the transportation company's stock worth $51,000 after acquiring an additional 199 shares during the last quarter. Public Employees Retirement System of Ohio increased its holdings in shares of Air Lease by 0.6% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 34,994 shares of the transportation company's stock worth $2,227,000 after acquiring an additional 201 shares during the last quarter. Finally, PNC Financial Services Group Inc. raised its stake in Air Lease by 1.9% in the 3rd quarter. PNC Financial Services Group Inc. now owns 11,153 shares of the transportation company's stock valued at $710,000 after acquiring an additional 205 shares during the period. 94.59% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
A number of research analysts recently weighed in on AL shares. TD Cowen downgraded shares of Air Lease from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, September 3rd. Deutsche Bank Aktiengesellschaft downgraded shares of Air Lease from a "buy" rating to a "hold" rating and set a $65.00 price objective for the company. in a research note on Wednesday, September 3rd. Zacks Research cut Air Lease from a "hold" rating to a "strong sell" rating in a report on Wednesday, November 5th. Weiss Ratings reiterated a "buy (b)" rating on shares of Air Lease in a report on Wednesday, October 8th. Finally, Cowen cut Air Lease from a "buy" rating to a "hold" rating in a research report on Wednesday, September 3rd. Four analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, Air Lease currently has an average rating of "Hold" and an average price target of $59.50.
Get Our Latest Stock Report on AL
About Air Lease
(
Get Free Report)
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.
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