Air Lease Co. (AL) to Issue Quarterly Dividend of $0.22 on January 9th

Air Lease Co. (NYSE:AL) declared a quarterly dividend on Thursday, November 7th,Wall Street Journal reports. Investors of record on Thursday, December 12th will be given a dividend of 0.22 per share by the transportation company on Thursday, January 9th. This represents a $0.88 annualized dividend and a yield of 1.87%. The ex-dividend date is Thursday, December 12th. This is an increase from Air Lease’s previous quarterly dividend of $0.21.

Air Lease has increased its dividend payment by an average of 9.9% annually over the last three years and has increased its dividend every year for the last 12 years. Air Lease has a payout ratio of 18.3% meaning its dividend is sufficiently covered by earnings. Analysts expect Air Lease to earn $6.67 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 12.6%.

Air Lease Stock Performance

Shares of Air Lease stock opened at $47.09 on Friday. Air Lease has a 12 month low of $36.37 and a 12 month high of $52.31. The stock’s fifty day simple moving average is $44.38 and its 200 day simple moving average is $46.29. The company has a market capitalization of $5.24 billion, a PE ratio of 10.73, a PEG ratio of 1.32 and a beta of 1.59. The company has a current ratio of 0.50, a quick ratio of 0.50 and a debt-to-equity ratio of 2.69.

Air Lease (NYSE:AL) last posted its quarterly earnings data on Thursday, November 7th. The transportation company reported $1.18 earnings per share for the quarter, topping the consensus estimate of $1.15 by $0.03. Air Lease had a return on equity of 8.97% and a net margin of 20.85%. The company had revenue of $690.16 million during the quarter, compared to analysts’ expectations of $681.71 million. On average, research analysts predict that Air Lease will post 4.83 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Barclays decreased their target price on shares of Air Lease from $55.00 to $54.00 and set an “overweight” rating for the company in a research note on Friday, August 2nd. JPMorgan Chase & Co. lowered their price objective on shares of Air Lease from $54.00 to $52.00 and set an “overweight” rating on the stock in a research note on Monday, August 5th. Finally, TD Cowen initiated coverage on shares of Air Lease in a research note on Monday, July 29th. They issued a “buy” rating and a $58.00 target price for the company. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $54.75.

Air Lease Company Profile

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.