Air Lease Co. (NYSE:AL) Receives Average Rating of “Buy” from Analysts

Shares of Air Lease Co. (NYSE:AL) have received a consensus recommendation of “Buy” from the four research firms that are covering the stock, Marketbeat Ratings reports. Four investment analysts have rated the stock with a buy rating. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $58.50.

AL has been the topic of a number of recent analyst reports. Bank of America cut Air Lease from a “buy” rating to an “underperform” rating and reduced their target price for the stock from $72.00 to $50.00 in a report on Friday. The Goldman Sachs Group restated a “buy” rating and set a $65.00 price objective on shares of Air Lease in a report on Thursday, November 21st. Finally, JPMorgan Chase & Co. increased their target price on shares of Air Lease from $56.00 to $57.00 and gave the stock an “overweight” rating in a report on Tuesday, February 18th.

Institutional Investors Weigh In On Air Lease

Large investors have recently made changes to their positions in the stock. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Air Lease in the 3rd quarter worth $872,000. BCGM Wealth Management LLC bought a new stake in shares of Air Lease in the third quarter valued at about $1,899,000. Charles Schwab Investment Management Inc. raised its position in Air Lease by 3.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,115,221 shares of the transportation company’s stock valued at $50,508,000 after buying an additional 36,596 shares during the last quarter. Highland Peak Capital LLC bought a new stake in Air Lease in the 3rd quarter valued at approximately $7,066,000. Finally, Loomis Sayles & Co. L P bought a new position in shares of Air Lease during the 3rd quarter worth approximately $18,289,000. Institutional investors own 94.59% of the company’s stock.

Air Lease Trading Down 1.1 %

Shares of NYSE AL opened at $46.28 on Friday. The company’s 50 day simple moving average is $47.17 and its 200 day simple moving average is $46.63. The company has a debt-to-equity ratio of 2.68, a current ratio of 0.37 and a quick ratio of 0.37. Air Lease has a fifty-two week low of $39.43 and a fifty-two week high of $52.31. The firm has a market capitalization of $5.15 billion, a P/E ratio of 13.90, a P/E/G ratio of 1.33 and a beta of 1.59.

Air Lease (NYSE:AL) last posted its quarterly earnings results on Thursday, February 13th. The transportation company reported $1.26 earnings per share for the quarter, beating analysts’ consensus estimates of $0.82 by $0.44. Air Lease had a return on equity of 8.01% and a net margin of 15.65%. On average, analysts predict that Air Lease will post 5.16 EPS for the current year.

Air Lease Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, April 7th. Shareholders of record on Tuesday, March 18th will be paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 1.90%. The ex-dividend date of this dividend is Tuesday, March 18th. Air Lease’s payout ratio is currently 26.43%.

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.