Air Lease Co. (NYSE:AL) Announces Dividend Increase – $0.22 Per Share

Air Lease Co. (NYSE:AL) declared a quarterly dividend on Thursday, November 7th,Wall Street Journal reports. Investors of record on Thursday, December 12th will be given a dividend of 0.22 per share by the transportation company on Thursday, January 9th. This represents a $0.88 dividend on an annualized basis and a yield of 1.87%. The ex-dividend date is Thursday, December 12th. This is a boost from Air Lease’s previous quarterly dividend of $0.21.

Air Lease has raised its dividend payment 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 $6.67 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 12.6%.

Air Lease Stock Down 0.5 %

AL stock opened at $47.09 on Friday. The stock has a market capitalization of $5.24 billion, a price-to-earnings ratio of 10.73, a price-to-earnings-growth ratio of 1.32 and a beta of 1.59. The company has a 50-day moving average of $44.38 and a two-hundred day moving average of $46.29. Air Lease has a 52-week low of $36.37 and a 52-week high of $52.31. The company has a debt-to-equity ratio of 2.69, a current ratio of 0.50 and a quick ratio of 0.50.

Air Lease (NYSE:AL) last announced its earnings results on Thursday, November 7th. The transportation company reported $1.18 earnings per share for the quarter, beating the consensus estimate of $1.15 by $0.03. The firm had revenue of $690.16 million during the quarter, compared to the consensus estimate of $681.71 million. Air Lease had a return on equity of 8.97% and a net margin of 20.85%. As a group, equities research analysts anticipate that Air Lease will post 4.83 EPS for the current year.

Wall Street Analysts Forecast Growth

AL has been the topic of several research analyst reports. Barclays lowered their price objective on shares of Air Lease from $55.00 to $54.00 and set an “overweight” rating on the stock in a research note on Friday, August 2nd. JPMorgan Chase & Co. dropped their price objective on shares of Air Lease from $54.00 to $52.00 and set an “overweight” rating on the stock in a report on Monday, August 5th. Finally, TD Cowen initiated coverage on shares of Air Lease in a research report on Monday, July 29th. They set a “buy” rating and a $58.00 price objective for the company. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, Air Lease currently has an average rating of “Moderate Buy” and an average price target 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.