Air Lease (NYSE:AL) Announces Earnings Results, Beats Expectations By $0.05 EPS

Air Lease (NYSE:AL) announced its earnings results on Monday. The transportation company reported $1.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.16 by $0.05, Zacks reports. Air Lease had a return on equity of 7.99% and a net margin of 34.04%.

Air Lease Price Performance

Shares of NYSE AL remained flat at $63.86 during midday trading on Monday. The stock had a trading volume of 1,705,861 shares, compared to its average volume of 1,255,134. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 2.47. Air Lease has a one year low of $38.25 and a one year high of $64.30. The business has a 50 day moving average of $63.22 and a 200 day moving average of $58.23. The company has a market capitalization of $7.14 billion, a price-to-earnings ratio of 7.75, a PEG ratio of 0.66 and a beta of 1.37.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on AL. TD Cowen lowered Air Lease from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 3rd. Barclays restated an “overweight” rating and issued a $67.00 price target (up from $56.00) on shares of Air Lease in a research note on Thursday, July 10th. Deutsche Bank Aktiengesellschaft downgraded Air Lease from a “buy” rating to a “hold” rating and set a $65.00 price target for the company. in a research note on Wednesday, September 3rd. Cowen downgraded Air Lease from a “buy” rating to a “hold” rating in a research note on Wednesday, September 3rd. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Air Lease in a research note on Wednesday, October 8th. Five research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Air Lease presently has an average rating of “Hold” and a consensus price target of $60.29.

Insider Activity at Air Lease

In other news, EVP David Beker sold 5,000 shares of Air Lease stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $63.53, for a total transaction of $317,650.00. Following the completion of the transaction, the executive vice president directly owned 13,970 shares in the company, valued at approximately $887,514.10. The trade was a 26.36% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Grant A. Levy sold 5,000 shares of the business’s stock in a transaction on Friday, September 12th. The shares were sold at an average price of $63.57, for a total value of $317,850.00. Following the completion of the sale, the executive vice president owned 141,316 shares of the company’s stock, valued at $8,983,458.12. This trade represents a 3.42% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 12,000 shares of company stock valued at $746,380 over the last quarter. 6.64% of the stock is currently owned by corporate insiders.

Institutional Trading of Air Lease

Several institutional investors have recently added to or reduced their stakes in the company. Public Sector Pension Investment Board boosted its stake in Air Lease by 7.9% in the 2nd quarter. Public Sector Pension Investment Board now owns 354,337 shares of the transportation company’s stock valued at $20,725,000 after purchasing an additional 25,845 shares during the period. FORA Capital LLC bought a new stake in Air Lease in the 2nd quarter valued at $528,000. Evergreen Capital Management LLC bought a new stake in Air Lease in the 2nd quarter valued at $245,000. Headlands Technologies LLC bought a new stake in Air Lease in the 2nd quarter valued at $70,000. Finally, CANADA LIFE ASSURANCE Co boosted its stake in Air Lease by 0.8% in the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 144,340 shares of the transportation company’s stock valued at $8,445,000 after purchasing an additional 1,091 shares during the period. 94.59% of the stock is currently owned by institutional investors.

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.