Brokerages Expect Air Lease Corp (AL) Will Announce Quarterly Sales of $499.86 Million

Equities analysts expect Air Lease Corp (NYSE:AL) to announce $499.86 million in sales for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for Air Lease’s earnings, with the highest sales estimate coming in at $510.85 million and the lowest estimate coming in at $489.40 million. Air Lease posted sales of $397.81 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 25.7%. The firm is expected to issue its next quarterly earnings report on Thursday, August 8th.

On average, analysts expect that Air Lease will report full-year sales of $2.07 billion for the current fiscal year, with estimates ranging from $2.01 billion to $2.11 billion. For the next year, analysts anticipate that the firm will report sales of $2.63 billion, with estimates ranging from $2.52 billion to $2.72 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that cover Air Lease.

Air Lease (NYSE:AL) last released its earnings results on Thursday, May 9th. The transportation company reported $1.23 EPS for the quarter, topping the Zacks’ consensus estimate of $1.22 by $0.01. Air Lease had a return on equity of 11.45% and a net margin of 30.50%. The firm had revenue of $466.00 million during the quarter, compared to the consensus estimate of $456.91 million. During the same quarter in the previous year, the company posted $1.38 earnings per share. The company’s revenue was up 22.2% compared to the same quarter last year.

A number of equities research analysts recently commented on AL shares. TheStreet raised Air Lease from a “c+” rating to a “b-” rating in a report on Wednesday, January 30th. Zacks Investment Research raised Air Lease from a “hold” rating to a “buy” rating and set a $41.00 price target for the company in a report on Friday, January 25th. Goldman Sachs Group started coverage on Air Lease in a report on Monday, April 8th. They issued a “buy” rating and a $52.00 price target for the company. Finally, ValuEngine raised Air Lease from a “strong sell” rating to a “sell” rating in a report on Thursday, April 11th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Buy” and an average price target of $55.56.

Air Lease stock opened at $38.36 on Thursday. The company has a debt-to-equity ratio of 2.29, a current ratio of 0.81 and a quick ratio of 0.81. Air Lease has a 52 week low of $28.13 and a 52 week high of $47.34. The stock has a market cap of $4.28 billion, a P/E ratio of 8.34, a PEG ratio of 0.92 and a beta of 2.04.

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 11th. Shareholders of record on Wednesday, June 5th will be issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 1.36%. The ex-dividend date is Tuesday, June 4th. Air Lease’s payout ratio is presently 11.30%.

A number of large investors have recently made changes to their positions in AL. Sageworth Trust Co acquired a new position in shares of Air Lease during the 1st quarter worth approximately $26,000. Permanens Capital L.P. acquired a new position in shares of Air Lease during the 1st quarter worth approximately $26,000. Penserra Capital Management LLC acquired a new position in shares of Air Lease during the 4th quarter worth approximately $27,000. First Mercantile Trust Co. raised its stake in shares of Air Lease by 41.5% during the 4th quarter. First Mercantile Trust Co. now owns 920 shares of the transportation company’s stock worth $28,000 after buying an additional 270 shares during the period. Finally, SeaBridge Investment Advisors LLC acquired a new position in shares of Air Lease during the 4th quarter worth approximately $30,000. 83.93% of the stock is owned by institutional investors.

About Air Lease

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.

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