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Should You Buy #1 (Strong Buy)-Ranked Air Lease (AL) for Your Portfolio?
Air Lease was upgraded to the Zacks Rank #1 list on April 23, 2024. The Zacks Rank is a unique stock-rating model that helps you take advantage of earnings estimate revision trends and provides a way to get into stocks highly sought after by institutional investors.
Founded in 2010, Los Angeles, CA-based Air Lease Corporation is a leading aircraft leasing company. It is primarily involved in purchasing commercial aircraft directly from the manufacturers, leasing the same to its airline customers across the globe. Some noteworthy manufacturers that the company works with are The Boeing Company and Airbus S.A.S.
Two analysts revised their earnings estimate higher in the last 60 days for fiscal 2024, while the Zacks Consensus Estimate has increased $1.11 to $6.68 per share. AL also boasts an average earnings surprise of 20.2%.
Analysts are expecting earnings to grow 30% for the current fiscal year, with revenue forecasted to rise 6.9%.
Even more impressive, AL has gained in value over the past four weeks, up 0.9% compared to the S&P 500's loss of 4.2%.
Bottom Line
With a #1 (Strong Buy) ranking, positive trend in earnings estimate revisions, and strong market momentum, Air Lease could be just the stock to help your portfolio generate returns that could fund your retirement, your kids' college tuition, or your short- and long-term savings goals.
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