Air Lease Co. (AL) To Go Ex-Dividend on September 6th

Air Lease Co. (NYSE:AL) declared a quarterly dividend on Thursday, August 1st, Wall Street Journal reports. Stockholders of record on Friday, September 6th will be paid a dividend of 0.21 per share by the transportation company on Wednesday, October 9th. This represents a $0.84 annualized dividend and a dividend yield of 1.91%. The ex-dividend date of this dividend is Friday, September 6th.

Air Lease has raised its dividend by an average of 9.9% per year over the last three years and has increased its dividend every year for the last 12 years. Air Lease has a payout ratio of 18.3% meaning its dividend is sufficiently covered by earnings. Analysts expect Air Lease to earn $7.97 per share next year, which means the company should continue to be able to cover its $0.84 annual dividend with an expected future payout ratio of 10.5%.

Air Lease Stock Down 5.2 %

Shares of NYSE AL opened at $43.87 on Wednesday. The stock has a market capitalization of $4.89 billion, a PE ratio of 8.84, a price-to-earnings-growth ratio of 1.00 and a beta of 1.59. The company has a current ratio of 0.50, a quick ratio of 0.50 and a debt-to-equity ratio of 2.69. Air Lease has a 12-month low of $33.33 and a 12-month high of $52.31. The stock’s fifty day simple moving average is $46.32 and its two-hundred day simple moving average is $46.93.

Air Lease (NYSE:AL) last announced its quarterly earnings data on Thursday, August 1st. The transportation company reported $1.15 earnings per share for the quarter, missing analysts’ consensus estimates of $1.56 by ($0.41). Air Lease had a net margin of 20.85% and a return on equity of 8.97%. The firm had revenue of $667.29 million during the quarter, compared to analyst estimates of $687.93 million. As a group, analysts expect that Air Lease will post 6.68 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms recently issued reports on AL. JPMorgan Chase & Co. decreased their target price on shares of Air Lease from $54.00 to $52.00 and set an “overweight” rating for the company in a research note on Monday, August 5th. TD Cowen began coverage on shares of Air Lease in a research report on Monday, July 29th. They set a “buy” rating and a $58.00 price target for the company. Finally, Barclays lowered their price objective on Air Lease from $55.00 to $54.00 and set an “overweight” rating on the stock in a report on Friday, August 2nd. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $54.75.

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.