Two Investing Legends Join Forces for One Night ONLY…

and reveal the massive market events that will shape 2020 — and what they recommend you do NOW with your money.

Tue, December 10 at 7:00PM ET
 
 
 
 

3 Stocks to Watch on Friday: Air Lease Corp (AL), Hertz Global Holdings, Inc (HTZ) and Redfin Corp (RDFN)

AL earnings rise Y/Y, HTZ profit topped expectations and RDFN posts weak revenue

The GOP tax plan continues to grab all the headlines, taking a bite off the Dow Jones Industrial Average, which fell 200 points yesterday. The index slid 0.4%, while the S&P 500 Index gave back 0.4% and the Nasdaq Composite declined lost 0.6%.

3 Stocks to Watch on Friday: Air Lease Corp (AL), Hertz Global Holdings, Inc (HTZ) and Redfin Corp (RDFN)Thursday’s quarterly earnings data included reports from Air Lease Corp (NYSE:AL), Hertz Global Holdings, Inc (NYSE:HTZ) and Redfin Corp (NASDAQ:RDFN).

Here’s how they did:

Air Lease Corp (AL)

Air Lease posted its quarterly earnings data late Thursday.

The company’s bottom line amounted to $166.44 million, or $1.50 per share, ahead of the year-ago mark of $157.26 million, or $1.43 per share. Revenue came in at $376.77 million for its third quarter, a 6.1% year-over-year gain.

Diluted earnings per share came in at 90 cents, marking a 4.7% surge year-over-year. On an adjusted basis, Air Lease earned $1.50 per share, a 4.9% improvement compared to the year-ago mark.

The company increased its quarterly cash dividend by 33%, from 7.5 cents per share to 10 cents per share, and it will be paid on Jan. 4, 2018 to shareholders on record as of Dec. 14, 2017.

“We had a solid quarter, delivering strong, consistent margins, a 6.1% increase in revenues and a 6.6% increase in pretax income compared to the third quarter of 2016,” said John. L. Plueger, Air Lease CEO and President.

“Global passenger traffic growth and the need to replace aging aircraft continue to drive healthy demand for new aircraft,” he added. “Looking ahead, we remain focused on our core leasing business, harvesting leasing placements in 2020 and beyond, and further developing our management and side car platforms.”

AL shares were flat after the bell.

Hertz Global Holdings, Inc (HTZ)

Hertz posted its earnings after hours yesterday.

The car rental service provider earned $93 million, or $1.12 per share for the period, more than doubling the year-ago profit of $44 million, or 52 cents per share. On an adjusted basis, the company earned $1.42 per share, topping the consensus estimate of $1.35 per share.

Hertz’ revenue rose 1.2% compared to the year-ago mark, coming in at $2.57 billion. However, the company warns that is entering a period of lowered demand for its services.

“We are entering a seasonally low period of demand at the same time that we are continuing to invest in the long-term growth of the company,” CEO Kathryn Marinello said in a statement. “Expense always precedes benefit.”

Hertz’s international RAC segment garnered revenue of $728 million over its third quarter, a 7% surge year-over-year.

HTZ skyrocketed 9.8% after the bell, following a weak trading session that saw shares decline 4.7%.

Redfin Corp (RDFN)

Redfin had a rough quarter, only its second since going public.

The company posted earnings of 12 cents per diluted share, while analysts polled by Yahoo Finance were calling for adjusted earnings of 13 cents per share for the period. The $10.6 million in profit brought in by the company handily topped the $5.7 million from a year ago.

Revenue was also underwhelming for Redfin as the real estate brokerage services provided raked in $109.5 million, compared to the Wall Street consensus estimate of $110.6 million.

The company’s services made up 0.71% of U.S. existing home sales by value over its third quarter, an increase of 0.14 percentage points year-over-year.

“Redfin’s brokerage market-share gains accelerated again in the third quarter, with strong traffic growth and steadily increasing sales in all of our new businesses,” said Redfin CEO Glenn Kelman in the earnings call.

The company also rolled out a new service called Redfin Now, allowing customers to sell their homes directly to the company. The service amassed $3.4 million in revenue over the period.

RDFN shares were hit hard on the earnings results, plummeting more than 6.7% after hours.

As of this writing, Karl Utermohlen did not hold a position in any of the aforementioned securities.


Article printed from InvestorPlace Media, https://investorplace.com/2017/11/stocks-watch-friday-air-lease-corp-al-hertz-global-holdings-inc-htz-redfin-corp-rdfn/.

©2019 InvestorPlace Media, LLC