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

Air Lease Co. (NYSE:AL) declared a quarterly dividend on Friday, November 8th,Wall Street Journal reports. Shareholders of record on Thursday, December 12th will be paid 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 1.86%. The ex-dividend date of this dividend is Thursday, December 12th. This is a positive change from Air Lease’s previous quarterly dividend of $0.21.

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% indicating that its dividend is sufficiently covered by earnings. Research 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 Up 0.2 %

Shares of NYSE:AL traded up $0.08 during trading on Friday, hitting $47.40. The stock had a trading volume of 823,278 shares, compared to its average volume of 969,653. The company has a market capitalization of $5.28 billion, a PE ratio of 10.79, a PEG ratio of 1.32 and a beta of 1.59. The company has a quick ratio of 0.50, a current ratio of 0.50 and a debt-to-equity ratio of 2.69. Air Lease has a 12 month low of $36.37 and a 12 month high of $52.31. The firm’s fifty day moving average is $44.36 and its 200 day moving average is $46.31.

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

Wall Street Analyst Weigh In

Several equities analysts have commented on AL shares. JPMorgan Chase & Co. cut their price objective on Air Lease from $54.00 to $52.00 and set an “overweight” rating on the stock in a research report on Monday, August 5th. Barclays reduced their price objective on shares of Air Lease from $55.00 to $54.00 and set an “overweight” rating for the company in a research note on Friday, August 2nd. Finally, TD Cowen initiated coverage on shares of Air Lease in a research note on Monday, July 29th. They set a “buy” rating and a $58.00 price target on the stock. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus 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.