Air Lease (NYSE:AL) Reaches New 1-Year Low at $33.13

Air Lease Co. (NYSE:ALGet Rating)’s share price hit a new 52-week low during mid-day trading on Thursday . The stock traded as low as $33.13 and last traded at $33.78, with a volume of 23102 shares changing hands. The stock had previously closed at $35.21.

Several research firms have weighed in on AL. StockNews.com began coverage on Air Lease in a research report on Thursday, March 31st. They set a “hold” rating on the stock. Credit Suisse Group increased their price objective on Air Lease from $50.00 to $53.00 and gave the stock an “outperform” rating in a research report on Friday, February 11th. Zacks Investment Research cut Air Lease from a “buy” rating to a “hold” rating and set a $46.00 price objective on the stock. in a research report on Tuesday, April 26th. Finally, HSBC began coverage on Air Lease in a research report on Tuesday, March 15th. They set a “buy” rating and a $50.00 price objective on the stock. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $52.50.

The stock has a 50 day moving average of $41.33 and a 200 day moving average of $42.60. The company has a quick ratio of 1.81, a current ratio of 1.81 and a debt-to-equity ratio of 2.43. The company has a market capitalization of $3.76 billion, a price-to-earnings ratio of -25.37, a price-to-earnings-growth ratio of 0.52 and a beta of 1.90.

Air Lease (NYSE:ALGet Rating) last issued its earnings results on Thursday, May 5th. The transportation company reported $2.84 earnings per share for the quarter, topping analysts’ consensus estimates of $0.99 by $1.85. The business had revenue of $596.66 million during the quarter, compared to the consensus estimate of $558.83 million. Air Lease had a positive return on equity of 7.43% and a negative net margin of 6.17%. The firm’s revenue for the quarter was up 25.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.70 earnings per share. As a group, sell-side analysts anticipate that Air Lease Co. will post 4.64 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 8th. Shareholders of record on Tuesday, June 7th will be issued a $0.185 dividend. The ex-dividend date is Monday, June 6th. This represents a $0.74 dividend on an annualized basis and a yield of 2.18%. Air Lease’s payout ratio is currently -54.81%.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AL. Raymond James Financial Services Advisors Inc. increased its holdings in shares of Air Lease by 107.8% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 12,210 shares of the transportation company’s stock valued at $480,000 after acquiring an additional 6,334 shares in the last quarter. PNC Financial Services Group Inc. increased its holdings in shares of Air Lease by 23.7% during the third quarter. PNC Financial Services Group Inc. now owns 11,225 shares of the transportation company’s stock valued at $442,000 after acquiring an additional 2,148 shares in the last quarter. Advisor Group Holdings Inc. increased its holdings in shares of Air Lease by 4.1% during the third quarter. Advisor Group Holdings Inc. now owns 39,478 shares of the transportation company’s stock valued at $1,554,000 after acquiring an additional 1,566 shares in the last quarter. Swiss National Bank grew its holdings in Air Lease by 0.5% during the third quarter. Swiss National Bank now owns 239,600 shares of the transportation company’s stock worth $9,426,000 after buying an additional 1,100 shares in the last quarter. Finally, Toronto Dominion Bank bought a new stake in Air Lease during the third quarter worth $1,003,000. Hedge funds and other institutional investors own 86.00% of the company’s stock.

Air Lease Company Profile (NYSE:AL)

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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