Air Lease Co. (NYSE:AL) Declares $0.22 Quarterly Dividend

Air Lease Co. (NYSE:AL) declared a quarterly dividend on Monday, May 5th, RTT News reports. Stockholders of record on Wednesday, June 4th will be given a dividend of 0.22 per share by the transportation company on Wednesday, July 9th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.81%.

Air Lease has raised its dividend payment by an average of 8.5% annually over the last three years and has increased its dividend every year for the last 13 years. Air Lease has a dividend payout ratio of 17.3% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Air Lease to earn $7.28 per share next year, which means the company should continue to be able to cover its $0.88 annual dividend with an expected future payout ratio of 12.1%.

Air Lease Stock Up 1.0 %

Shares of Air Lease stock opened at $48.65 on Tuesday. The company has a debt-to-equity ratio of 2.68, a current ratio of 0.37 and a quick ratio of 0.37. The stock has a market cap of $5.44 billion, a price-to-earnings ratio of 14.61, a PEG ratio of 1.33 and a beta of 1.33. The firm’s 50-day moving average is $45.39 and its two-hundred day moving average is $46.90. Air Lease has a 1 year low of $38.25 and a 1 year high of $52.31.

Air Lease (NYSE:AL) last released its quarterly earnings data on Thursday, February 13th. The transportation company reported $1.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.82 by $0.44. Air Lease had a net margin of 15.65% and a return on equity of 8.01%. As a group, research analysts expect that Air Lease will post 5.16 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. JPMorgan Chase & Co. lifted their price target on Air Lease from $56.00 to $57.00 and gave the company an “overweight” rating in a report on Tuesday, February 18th. UBS Group set a $50.00 price objective on Air Lease in a research report on Friday, March 7th. Finally, Bank of America downgraded shares of Air Lease from a “buy” rating to an “underperform” rating and reduced their target price for the stock from $72.00 to $50.00 in a report on Friday, March 7th. One analyst has rated the stock with a sell rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, Air Lease presently has an average rating of “Moderate Buy” and a consensus price target of $55.67.

About Air Lease

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.