Air Lease Corp (AL) Plans Dividend Increase – $0.13 Per Share

Air Lease Corp (NYSE:AL) declared a quarterly dividend on Thursday, November 8th, Zacks reports. Shareholders of record on Thursday, December 13th will be given a dividend of 0.13 per share by the transportation company on Wednesday, January 9th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.40%. The ex-dividend date of this dividend is Wednesday, December 12th. This is a boost from Air Lease’s previous quarterly dividend of $0.10.

Air Lease has raised its dividend payment by an average of 35.7% annually over the last three years and has raised its dividend annually for the last 4 consecutive years. Air Lease has a payout ratio of 11.6% meaning its dividend is sufficiently covered by earnings. Research analysts expect Air Lease to earn $5.48 per share next year, which means the company should continue to be able to cover its $0.52 annual dividend with an expected future payout ratio of 9.5%.

AL stock opened at $37.08 on Friday. Air Lease has a 12-month low of $35.97 and a 12-month high of $50.70. The stock has a market capitalization of $3.95 billion, a price-to-earnings ratio of 10.16, a PEG ratio of 0.98 and a beta of 1.83. The company has a debt-to-equity ratio of 2.48, a quick ratio of 0.80 and a current ratio of 0.80.

Air Lease (NYSE:AL) last announced its earnings results on Thursday, November 8th. The transportation company reported $1.32 earnings per share for the quarter, beating analysts’ consensus estimates of $1.23 by $0.09. The firm had revenue of $450.70 million for the quarter, compared to analyst estimates of $443.01 million. Air Lease had a net margin of 51.81% and a return on equity of 11.44%. The company’s revenue for the quarter was up 19.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.50 EPS. As a group, equities analysts predict that Air Lease will post 4.56 EPS for the current year.

A number of equities research analysts have recently weighed in on AL shares. Compass Point reaffirmed a “buy” rating and set a $58.00 target price on shares of Air Lease in a research note on Sunday, August 12th. Zacks Investment Research raised shares of Air Lease from a “hold” rating to a “buy” rating and set a $42.00 target price on the stock in a research note on Monday, November 26th. Cowen reaffirmed a “buy” rating and set a $54.00 target price on shares of Air Lease in a research note on Friday, November 30th. ValuEngine lowered shares of Air Lease from a “hold” rating to a “sell” rating in a research note on Friday, September 7th. Finally, Royal Bank of Canada lifted their target price on shares of Air Lease from $91.00 to $93.00 and gave the company a “top pick” rating in a research note on Friday, August 10th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $54.45.

In related news, EVP Grant A. Levy sold 15,000 shares of the business’s stock in a transaction dated Thursday, September 13th. The shares were sold at an average price of $45.13, for a total transaction of $676,950.00. Following the sale, the executive vice president now owns 153,399 shares of the company’s stock, valued at $6,922,896.87. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 9.32% of the company’s stock.

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Air Lease Company Profile

Air Lease Corporation, an aircraft leasing company, engages in the purchase and leasing of commercial jet transport aircraft to airlines worldwide. The company also sells aircraft from its operating lease portfolio to third parties, including other leasing companies, financial services companies, and airlines.

See Also: Compound Annual Growth Rate (CAGR)

Dividend History for Air Lease (NYSE:AL)

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