Air Lease Corporation (NYSE: AL) stock jumped 1.73% on Thursday to $38.88 against a previous-day closing price of $38.22. With 0.78 million shares changed hands, the volume of the stock remained heavier than its average volume of 0.64 million shares. During the session, the Rental & Leasing Services company that operates in wider Industrials sector, reached to the highest price of $39.03 whereas the lowest price it dropped to was $38.12. The 52-week range on AL shows that it touched its highest point at $46.20 and its lowest point at $29.75 during that stretch. It currently has a 1-year price target of $52.57. With its current market cap of 4.35 billion, AL has annualized dividend of $0.80 while the current yield stands at 2.06%. Beta for the stock currently stands at 1.77.
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Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of AL was down-trending over the past week, with a drop of -0.51%, but this was up by 0.88% over a month. Three-month performance dropped to -9.22% while six-month performance rose 2.80%. The stock gained 10.86% in the past year, while it has gained 1.20% so far this year. A look at the trailing 12-month EPS for AL yields 4.13 with Next year EPS estimates of 5.94. For the next quarter, that number is 1.19. This implies an EPS growth rate of -134.80% for this year and 21.82% for next year. EPS is expected to grow by 26.16% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of -18.50%.
Float and Shares Shorts:
At present, 110.94 million AL shares are outstanding with a float of 103.61 million shares on hand for trading. On Apr 27, 2023, short shares totaled 2.02 million, which was 1.82% higher than short shares on Mar 30, 2023. In addition to Mr. Steven F. Udvar-Hazy as the firm’s Exec. Chairman, Mr. John L. Plueger serves as its CEO, Pres & Director.
Through their ownership of 90.37% of AL’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 52.51% of AL, in contrast to 37.83% held by mutual funds. Shares owned by individuals account for 29.71%. As the largest shareholder in AL with 9.00% of the stake, The Vanguard Group, Inc. holds 9,980,635 shares worth 9,980,635. A second-largest stockholder of AL, Dimensional Fund Advisors LP, holds 6,735,320 shares, controlling over 6.07% of the firm’s shares. Capital Research & Management Co is the third largest shareholder in AL, holding 4,876,511 shares or 4.40% stake. With a 2.94% stake in AL, the Vanguard Total Stock Market ETF is the largest stakeholder. A total of 3,257,931 shares are owned by the mutual fund manager. The Vanguard Small Cap Index Fund, which owns about 2.49% of AL stock, is the second-largest Mutual Fund holder. It holds 2,757,425 shares valued at 110.9 million. Washington Mutual Investors Fund holds 2.29% of the stake in AL, owning 2,536,657 shares worth 102.02 million.
An Overview of Recent Financials:
Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Mar 30, 2023, AL reported revenue of $557.70M and operating income of $158.34M. The EBITDA in the recently reported quarter was $393.63M and diluted EPS was $0.95.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for AL since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With AL analysts setting a high price target of $59.00 and a low target of $41.00, the average target price over the next 12 months is $53.44. Based on these targets, AL could surge 51.75% to reach the target high and rise by 5.45% to reach the target low. Reaching the average price target will result in a growth of 37.45% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.
Summary of Insider Activity:
Insiders traded AL stock several times over the past three months with 10 Buys and 1 Sells. In these transactions, 3,000 shares were bought while 3,050 shares were sold. The number of buy transactions has increased to 21 while that of sell transactions has risen to 22 over the past year. The total number of shares bought during that period was 151,688 while 69,477 shares were sold.