Air Lease Co. (NYSE:AL) Announces Quarterly Dividend of $0.21

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

Air Lease has raised its dividend by an average of 9.9% annually over the last three years and has raised its dividend annually for the last 12 consecutive years. Air Lease has a dividend payout ratio of 18.3% indicating that 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 Performance

Shares of Air Lease stock opened at $43.87 on Wednesday. The stock has a market capitalization of $4.89 billion, a price-to-earnings ratio of 8.84, a PEG ratio of 1.00 and a beta of 1.59. The firm’s fifty day simple moving average is $46.32 and its 200-day simple moving average is $46.93. 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 has a 12 month low of $33.33 and a 12 month high of $52.31.

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

Wall Street Analyst Weigh In

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