Air Lease Corp (AL) was Reiterated by FBR Capital to “Outperform” while Lowering the Price Target of the company shares to $ 37 from a previous price target of $40 . FBR Capital advised their investors in a research report released on Aug 5, 2016.
On the company’s financial health, Air Lease Corp reported $1.39 EPS for the quarter, beating the analyst consensus estimate by $ 0.35 according to the earnings call on Aug 4, 2016. Analyst had a consensus of $1.04. The company had revenue of $350.13 million for the quarter, compared to analysts expectations of $349.55 million. The company’s revenue was up 14.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.70 EPS.
Air Lease Corp closed down -0.23 points or -0.82% at $27.75 with 15,94,415 shares getting traded on Thursday. Post opening the session at $28, the shares hit an intraday low of $27.505 and an intraday high of $28.19 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.
In a different news, on Jan 4, 2016, Marc H Baer (EVP) sold 1,500 shares at $32.62 per share price. According to the SEC, on Aug 25, 2015, Steven F Udvar-hazy (CEO) purchased 3,000 shares at $30.23 per share price. On Mar 2, 2015, Jie Chen (EVP & Managing Director, Asia) sold 4,024 shares at $40.18 per share price, according to the Form-4 filing with the securities and exchange commission.
Air Lease Corporation is an aircraft leasing company. The Company is engaged in purchasing new commercial jet transport aircraft directly from aircraft manufacturers such as The Boeing Company (Boeing) and Airbus S.A.S. (Airbus) and leasing those aircrafts to airlines around the world. In addition to its leasing activities it sells aircrafts from its operating lease portfolio to third-parties including other leasing companies financial services companies and airlines. It also provides fleet management services to investors and owners of aircraft portfolios. It provides aircrafts to airline customers in geographical regions including markets such as Asia the Pacific Rim Latin America the Middle East and Eastern Europe. The Company sells aircrafts that are operated by an airline with multiple years of lease term remaining on the contract.