Air Lease (NYSE:AL) Shares Up 6.7% After Better-Than-Expected Earnings

Air Lease Co. (NYSE:AL)’s share price rose 6.7% during trading on Friday following a better than expected earnings announcement. The company traded as high as $49.88 and last traded at $49.47. Approximately 184,083 shares were traded during mid-day trading, a decline of 70% from the average daily volume of 605,111 shares. The stock had previously closed at $46.35.

The transportation company reported $1.26 earnings per share for the quarter, beating the consensus estimate of $0.82 by $0.44. Air Lease had a return on equity of 8.92% and a net margin of 19.58%.

Air Lease Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 7th. Investors of record on Tuesday, March 18th will be paid a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 1.79%. Air Lease’s payout ratio is 20.05%.

Wall Street Analyst Weigh In

Several research firms recently commented on AL. JPMorgan Chase & Co. boosted their price objective on shares of Air Lease from $52.00 to $56.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 12th. The Goldman Sachs Group reissued a “buy” rating and issued a $65.00 price target on shares of Air Lease in a research report on Thursday, November 21st. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $57.60.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Eastern Bank purchased a new position in Air Lease in the 3rd quarter worth approximately $27,000. Aster Capital Management DIFC Ltd bought a new stake in shares of Air Lease in the 4th quarter worth $28,000. Wilmington Savings Fund Society FSB purchased a new position in shares of Air Lease in the third quarter worth $31,000. SBI Securities Co. Ltd. bought a new position in shares of Air Lease during the fourth quarter valued at $31,000. Finally, Brown Brothers Harriman & Co. lifted its holdings in shares of Air Lease by 5,245.0% during the fourth quarter. Brown Brothers Harriman & Co. now owns 1,069 shares of the transportation company’s stock valued at $52,000 after purchasing an additional 1,049 shares in the last quarter. Institutional investors own 94.59% of the company’s stock.

Air Lease Price Performance

The firm has a 50-day moving average of $47.42 and a 200 day moving average of $46.25. The company has a debt-to-equity ratio of 2.63, a current ratio of 0.43 and a quick ratio of 0.43. The company has a market capitalization of $5.48 billion, a PE ratio of 11.22, a PEG ratio of 1.00 and a beta of 1.59.

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.