Company Update (NYSE:BA): Air Lease Corporation takes Delivery of its First new Boeing 787 Dreamliner

[Business Wire] – LOS ANGELES–(BUSINESSWIRE)– Air Lease Corporation (NYSE:AL – News) delivered its first Boeing 787 in Everett, Washington on June 7, 2016. The aircraft, a Boeing 787-9 on long term lease to Hainan Airlines, is the first of two new Boeing 787-9 deliveries from ALC’s order book with Boeing. This event also marks the first GEnx-powered Boeing 787-9 to operate in China, as well as the first 787-9 aircraft in Hainan’s fleet. Read more on this. The Boeing Company (BA) , valued at $83.19B, began trading this morning at $130.79. Shares have traded today between $130.22 and $131.51 per share and has traded between $102.10 and $150.59 over the past 12 months. BA shares are currently priced at 15.45x this year’s forecasted earnings, which makes them relatively inexpensive compared to the industry’s 26.79x earnings multiple for the same period. And for dividend hunters, the company pays shareholders $4.36 per share annually in dividends, yielding 3.32%. Consensus earnings for the current quarter by the 15 sell-side analysts covering the stock is an estimate of $2.14 per share, which would be $0.52 better than the year-ago quarter and a $0.02 sequential increase. The full-year EPS estimate is $8.49, which would be a $0.77 better than last year. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $23.22 Billion. If realized, that would be a 5.38% decrease over the year-ago quarter. Recently, BofA/Merrill downgraded BA from Neutral to Underperform (Apr 20, 2016). Previously, Canaccord Genuity downgraded BA from Buy to Hold. The average price target for BA shares is $148.06, which is 13.20% above where the stock opened this morning. See more in (NYSE:BA) Similar Articles: Company Update (NYSE:BA): Boeing, Air Austral Celebrate Delivery of Airline’s First 787 Dreamliner Company Update (NYSE:BA): Boeing, Air Europa Celebrate Delivery of the Airline’s First 787 Dreamliner Market Update: The Boeing Company (NYSE:BA) – Glancy Prongay & Murray Commences Investigation on Behalf of The Boeing Company Investors