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

Air Lease (NYSE:AL) released its quarterly earnings data on Thursday. The transportation company reported $1.32 EPS for the quarter, topping the consensus estimate of $1.23 by $0.09, Morningstar.com reports. Air Lease had a return on equity of 10.85% and a net margin of 51.22%. The company had revenue of $450.70 million during the quarter, compared to the consensus estimate of $443.01 million. During the same period last year, the company earned $1.50 EPS. Air Lease’s revenue for the quarter was up 19.6% on a year-over-year basis.

Shares of Air Lease stock traded up $0.58 during trading hours on Friday, reaching $40.36. 56,551 shares of the stock traded hands, compared to its average volume of 890,070. The company has a market cap of $4.15 billion, a P/E ratio of 10.98, a P/E/G ratio of 1.05 and a beta of 1.85. Air Lease has a one year low of $36.46 and a one year high of $50.70. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 2.53.

In other news, EVP John D. Poerschke sold 6,000 shares of Air Lease stock in a transaction dated Monday, August 27th. The stock was sold at an average price of $46.90, for a total transaction of $281,400.00. Following the transaction, the executive vice president now directly owns 51,500 shares of the company’s stock, valued at approximately $2,415,350. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Marc H. Baer sold 10,000 shares of Air Lease stock in a transaction dated Tuesday, August 21st. The shares were sold at an average price of $46.22, for a total value of $462,200.00. Following the transaction, the executive vice president now directly owns 122,891 shares in the company, valued at $5,680,022.02. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 31,000 shares of company stock valued at $1,420,550. Corporate insiders own 9.32% of the company’s stock.

Several hedge funds have recently bought and sold shares of the company. Envestnet Asset Management Inc. lifted its holdings in Air Lease by 224.2% in the 2nd quarter. Envestnet Asset Management Inc. now owns 3,618 shares of the transportation company’s stock worth $153,000 after purchasing an additional 2,502 shares in the last quarter. Meadow Creek Investment Management LLC purchased a new position in Air Lease in the 2nd quarter worth approximately $173,000. Trilogy Capital Inc. purchased a new position in Air Lease in the 3rd quarter worth approximately $215,000. Glen Harbor Capital Management LLC purchased a new position in Air Lease in the 2nd quarter worth approximately $210,000. Finally, Paloma Partners Management Co purchased a new position in Air Lease in the 2nd quarter worth approximately $222,000. 86.41% of the stock is currently owned by hedge funds and other institutional investors.

Several equities research analysts recently commented on AL shares. Compass Point reiterated a “buy” rating and issued a $58.00 price objective on shares of Air Lease in a report on Sunday, August 12th. Bank of America reiterated a “buy” rating and issued a $57.00 price objective on shares of Air Lease in a report on Thursday, August 16th. Seaport Global Securities started coverage on Air Lease in a report on Wednesday, October 10th. They issued a “buy” rating for the company. ValuEngine upgraded Air Lease from a “sell” rating to a “hold” rating in a research note on Monday, August 13th. Finally, Citigroup boosted their price target on Air Lease from $49.00 to $50.00 and gave the company a “neutral” rating in a research note on Wednesday, August 15th. Three analysts have rated the stock with a sell rating, two have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $55.85.

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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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Earnings History for Air Lease (NYSE:AL)

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