Air Lease (NYSE:AL) Trading 6.7% Higher After Earnings Beat

Air Lease Co. (NYSE:AL - Get Free Report) was up 6.7% on Friday after the company announced better than expected quarterly earnings. The stock traded as high as $49.88 and last traded at $49.47. Approximately 184,083 shares changed hands during mid-day trading, a decline of 70% from the average daily volume of 605,111 shares. The stock had previously closed at $46.35.

The transportation company reported $1.26 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.82 by $0.44. Air Lease had a net margin of 19.58% and a return on equity of 8.92%.

Air Lease Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 7th. Stockholders of record on Tuesday, March 18th will be issued a dividend of $0.22 per share. The ex-dividend date is Tuesday, March 18th. This represents a $0.88 annualized dividend and a dividend yield of 1.74%. Air Lease's dividend payout ratio is 26.43%.

Analyst Ratings Changes

Several analysts recently issued reports on AL shares. JPMorgan Chase & Co. lifted their price target on shares of Air Lease from $56.00 to $57.00 and gave the company an "overweight" rating in a research report on Tuesday. The Goldman Sachs Group reissued a "buy" rating and set a $65.00 target price on shares of Air Lease in a research report on Thursday, November 21st. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, Air Lease presently has an average rating of "Moderate Buy" and an average price target of $57.80.

Hedge Funds Weigh In On Air Lease

A number of hedge funds have recently bought and sold shares of AL. Eastern Bank bought a new position in shares of Air Lease during the third quarter valued at about $27,000. Aster Capital Management DIFC Ltd bought a new position in shares of Air Lease during the 4th quarter worth approximately $28,000. Wilmington Savings Fund Society FSB bought a new position in shares of Air Lease during the 3rd quarter worth approximately $31,000. SBI Securities Co. Ltd. purchased a new position in shares of Air Lease in the 4th quarter worth approximately $31,000. Finally, Engine Capital Management LP bought a new position in shares of Air Lease in the fourth quarter valued at approximately $36,000. 94.59% of the stock is owned by hedge funds and other institutional investors.

Air Lease Stock Up 2.1 %

The stock has a 50-day moving average of $47.40 and a 200 day moving average of $46.29. The company has a market capitalization of $5.62 billion, a PE ratio of 11.50, a P/E/G ratio of 1.00 and a beta of 1.59. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 2.63.

Air Lease Company Profile

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.