Air Lease (AL) Releases Earnings Results, Beats Expectations By $0.09 EPS

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Air Lease (NYSE:AL) released its quarterly earnings results on Thursday. The transportation company reported $1.32 earnings per share for the quarter, topping analysts’ consensus estimates of $1.23 by $0.09, Morningstar.com reports. The business had revenue of $450.70 million for the quarter, compared to analysts’ expectations of $443.01 million. Air Lease had a return on equity of 10.85% and a net margin of 51.22%. The company’s revenue was up 19.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.50 EPS.

AL stock opened at $40.37 on Friday. Air Lease has a 1 year low of $36.46 and a 1 year high of $50.70. The company has a debt-to-equity ratio of 2.53, a quick ratio of 0.85 and a current ratio of 0.85. The company has a market capitalization of $4.21 billion, a P/E ratio of 10.11, a P/E/G ratio of 1.06 and a beta of 1.85.

A number of research firms recently weighed in on AL. ValuEngine cut Air Lease from a “hold” rating to a “sell” rating in a report on Thursday, November 1st. Seaport Global Securities began coverage on Air Lease in a report on Wednesday, October 10th. They issued a “buy” rating on the stock. Bank of America restated a “buy” rating and issued a $57.00 price target on shares of Air Lease in a report on Thursday, August 16th. Citigroup upped their price target on Air Lease from $49.00 to $50.00 and gave the stock a “neutral” rating in a report on Wednesday, August 15th. Finally, Compass Point restated a “buy” rating and issued a $58.00 price target on shares of Air Lease in a report on Sunday, August 12th. Three analysts have rated the stock with a sell rating, two have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $55.85.

In related news, EVP John D. Poerschke sold 6,000 shares of the company’s stock in a transaction that occurred on Monday, August 27th. The stock was sold at an average price of $46.90, for a total value of $281,400.00. Following the sale, the executive vice president now owns 51,500 shares of the company’s stock, valued at approximately $2,415,350. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Grant A. Levy sold 15,000 shares of the company’s stock in a transaction that occurred on Thursday, September 13th. The shares were sold at an average price of $45.13, for a total value of $676,950.00. Following the completion of the sale, the executive vice president now directly owns 153,399 shares in the company, valued at approximately $6,922,896.87. The disclosure for this sale can be found here. In the last ninety days, insiders sold 31,000 shares of company stock worth $1,420,550. 9.32% of the stock is owned by corporate insiders.

A number of hedge funds have recently bought and sold shares of the stock. Bank of New York Mellon Corp lifted its stake in Air Lease by 1.5% in the 3rd quarter. Bank of New York Mellon Corp now owns 592,208 shares of the transportation company’s stock valued at $27,171,000 after buying an additional 8,732 shares in the last quarter. Alliancebernstein L.P. lifted its stake in Air Lease by 7.6% in the 3rd quarter. Alliancebernstein L.P. now owns 67,845 shares of the transportation company’s stock valued at $3,113,000 after buying an additional 4,770 shares in the last quarter. Swiss National Bank lifted its stake in Air Lease by 0.9% in the 3rd quarter. Swiss National Bank now owns 172,300 shares of the transportation company’s stock valued at $7,905,000 after buying an additional 1,500 shares in the last quarter. Commonwealth Bank of Australia purchased a new stake in Air Lease in the 3rd quarter valued at approximately $486,000. Finally, Mork Capital Management LLC lifted its stake in Air Lease by 38.7% in the 3rd quarter. Mork Capital Management LLC now owns 66,000 shares of the transportation company’s stock valued at $3,028,000 after buying an additional 18,400 shares in the last quarter. 86.41% of the stock is currently owned by hedge funds and other institutional investors.

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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.

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Earnings History for Air Lease (NYSE:AL)

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