Zacks: Analysts Anticipate Air Lease Co. (NYSE:AL) Will Post Quarterly Sales of $569.22 Million

Wall Street brokerages expect Air Lease Co. (NYSE:AL – Get Rating) to announce $569.22 million in sales for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for Air Lease’s earnings, with the highest sales estimate coming in at $611.78 million and the lowest estimate coming in at $526.66 million. Air Lease posted sales of $491.88 million in the same quarter last year, which suggests a positive year over year growth rate of 15.7%. The firm is scheduled to report its next earnings report on Monday, January 1st.

According to Zacks, analysts expect that Air Lease will report full-year sales of $2.31 billion for the current fiscal year, with estimates ranging from $2.15 billion to $2.48 billion. For the next financial year, analysts forecast that the firm will report sales of $2.74 billion, with estimates ranging from $2.71 billion to $2.77 billion. Zacks’ sales averages are an average based on a survey of sell-side research analysts that cover Air Lease.

Air Lease (NYSE:AL – Get Rating) last announced its earnings results on Thursday, May 5th. The transportation company reported $2.84 EPS for the quarter, topping analysts’ consensus estimates of $0.99 by $1.85. The firm had revenue of $596.66 million during the quarter, compared to analysts’ expectations of $558.83 million. Air Lease had a positive return on equity of 7.43% and a negative net margin of 6.17%. The company’s quarterly revenue was up 25.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.70 EPS.

A number of equities research analysts recently issued reports on the company. Barclays raised their price target on Air Lease from $56.00 to $61.00 and gave the stock an “overweight” rating in a research note on Monday, January 10th. HSBC assumed coverage on Air Lease in a research note on Tuesday, March 15th. They set a “buy” rating and a $50.00 price target for the company. Credit Suisse Group raised their price target on Air Lease from $50.00 to $53.00 and gave the stock an “outperform” rating in a research note on Friday, February 11th. Zacks Investment Research lowered Air Lease from a “buy” rating to a “hold” rating and set a $46.00 price target for the company. in a research note on Tuesday, April 26th. Finally, StockNews.com assumed coverage on Air Lease in a research note on Thursday, March 31st. They set a “hold” rating for the company. 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, Air Lease presently has a consensus rating of “Buy” and a consensus target price of $52.50.

Shares of Air Lease stock traded up $1.81 on Thursday, reaching $36.32. The company had a trading volume of 1,395,678 shares, compared to its average volume of 1,333,602. The firm has a market cap of $4.03 billion, a price-to-earnings ratio of -25.56, a P/E/G ratio of 0.52 and a beta of 1.90. The company has a debt-to-equity ratio of 2.43, a current ratio of 1.81 and a quick ratio of 1.81. The firm’s 50-day moving average price is $41.50 and its two-hundred day moving average price is $42.69. Air Lease has a 1 year low of $33.41 and a 1 year high of $50.99.

The company also recently announced a quarterly dividend, which will be paid on Friday, July 8th. Shareholders of record on Tuesday, June 7th will be given a dividend of $0.185 per share. This represents a $0.74 dividend on an annualized basis and a yield of 2.04%. The ex-dividend date is Monday, June 6th. Air Lease’s dividend payout ratio (DPR) is presently -54.81%.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Toronto Dominion Bank bought a new position in shares of Air Lease in the 3rd quarter worth $1,003,000. FIL Ltd raised its position in shares of Air Lease by 2.5% in the 3rd quarter. FIL Ltd now owns 1,941,681 shares of the transportation company’s stock worth $76,386,000 after acquiring an additional 46,843 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp raised its position in shares of Air Lease by 12.5% in the 3rd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 17,042 shares of the transportation company’s stock worth $670,000 after acquiring an additional 1,900 shares in the last quarter. Marshall Wace LLP bought a new position in shares of Air Lease in the 3rd quarter worth $1,219,000. Finally, Connectus Wealth LLC bought a new position in shares of Air Lease in the 4th quarter worth $248,000. 86.00% of the stock is owned by institutional investors and hedge funds.

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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