Air Lease Co. (NYSE:AL – Free Report) – Equities research analysts at Zacks Research dropped their Q3 2024 EPS estimates for shares of Air Lease in a note issued to investors on Friday, September 22nd. Zacks Research analyst S. Goswami now forecasts that the transportation company will post earnings of $1.36 per share for the quarter, down from their previous estimate of $1.38. The consensus estimate for Air Lease’s current full-year earnings is $4.58 per share. Zacks Research also issued estimates for Air Lease’s Q4 2024 earnings at $1.38 EPS and FY2024 earnings at $5.57 EPS.
Air Lease (NYSE:AL – Get Free Report) last issued its earnings results on Thursday, August 3rd. The transportation company reported $1.10 EPS for the quarter, beating the consensus estimate of $1.09 by $0.01. The company had revenue of $672.90 million during the quarter, compared to analysts’ expectations of $657.68 million. Air Lease had a net margin of 20.91% and a return on equity of 7.72%.
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Air Lease Trading Down 1.8 %
Shares of Air Lease stock opened at $39.38 on Monday. The firm has a market capitalization of $4.37 billion, a PE ratio of 9.22, a price-to-earnings-growth ratio of 0.88 and a beta of 1.76. The company has a current ratio of 0.41, a quick ratio of 0.41 and a debt-to-equity ratio of 2.76. The firm’s 50 day moving average is $41.08 and its 200 day moving average is $40.12. Air Lease has a 1 year low of $30.08 and a 1 year high of $46.20.
Air Lease Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Friday, October 6th. Stockholders of record on Tuesday, September 12th will be given a $0.20 dividend. The ex-dividend date is Monday, September 11th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.03%. Air Lease’s dividend payout ratio (DPR) is currently 18.74%.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently modified their holdings of AL. Belpointe Asset Management LLC acquired a new position in shares of Air Lease in the 1st quarter worth approximately $28,000. Neo Ivy Capital Management acquired a new position in shares of Air Lease in the 2nd quarter worth approximately $31,000. Tower Research Capital LLC TRC lifted its position in shares of Air Lease by 421.9% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,409 shares of the transportation company’s stock worth $59,000 after purchasing an additional 1,139 shares during the period. Lazard Asset Management LLC acquired a new position in shares of Air Lease during the 1st quarter valued at $66,000. Finally, Sunbelt Securities Inc. lifted its position in shares of Air Lease by 1,222.5% during the 2nd quarter. Sunbelt Securities Inc. now owns 2,116 shares of the transportation company’s stock valued at $89,000 after acquiring an additional 1,956 shares during the period. Institutional investors and hedge funds own 88.16% of the company’s stock.
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 also sells aircraft from its fleet to third parties, including other leasing companies, financial services companies, airlines, and other investors. In addition, the company provides fleet management services to investors and owners of aircraft portfolios.
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