ValuEngine upgraded shares of Delta Air Lines, Inc. (NYSE:DAL) from a buy rating to a strong-buy rating in a report issued on Wednesday, August 2nd.
Several other research firms also recently weighed in on DAL. Cowen and Company raised their price target on Delta Air Lines from $58.00 to $66.00 and gave the stock an outperform rating in a research report on Thursday, July 13th. Evercore ISI reaffirmed an outperform rating and issued a $66.00 price objective on shares of Delta Air Lines in a research report on Friday, July 14th. Imperial Capital lifted their price objective on Delta Air Lines from $52.00 to $54.00 and gave the company an in-line rating in a research report on Tuesday, July 11th. Sanford C. Bernstein reaffirmed an outperform rating and issued a $60.00 price objective on shares of Delta Air Lines in a research report on Thursday, July 13th. Finally, Morgan Stanley reaffirmed an overweight rating and issued a $62.00 price objective (down previously from $63.00) on shares of Delta Air Lines in a research report on Friday, July 14th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, fifteen have issued a buy rating and three have assigned a strong buy rating to the company’s stock. Delta Air Lines currently has a consensus rating of Buy and a consensus target price of $60.74.
Shares of Delta Air Lines (NYSE DAL) traded up 0.90% on Wednesday, reaching $49.48. The company’s stock had a trading volume of 6,318,866 shares. The stock has a 50-day moving average price of $52.40 and a 200-day moving average price of $49.46. The company has a market capitalization of $36.02 billion, a price-to-earnings ratio of 9.81 and a beta of 1.20. Delta Air Lines has a 1-year low of $35.84 and a 1-year high of $55.75.
Delta Air Lines (NYSE:DAL) last released its quarterly earnings results on Thursday, July 13th. The transportation company reported $1.64 earnings per share for the quarter, missing the consensus estimate of $1.66 by $0.02. The company had revenue of $10.79 billion for the quarter, compared to analysts’ expectations of $10.81 billion. Delta Air Lines had a return on equity of 28.33% and a net margin of 9.30%. The business’s quarterly revenue was up 3.3% on a year-over-year basis. During the same period in the previous year, the business posted $1.47 EPS. On average, equities research analysts forecast that Delta Air Lines will post $5.12 EPS for the current year.
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The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 13th. Shareholders of record on Wednesday, August 23rd will be paid a dividend of $0.305 per share. This represents a $1.22 dividend on an annualized basis and a dividend yield of 2.47%. The ex-dividend date is Monday, August 21st. This is a boost from Delta Air Lines’s previous quarterly dividend of $0.20. Delta Air Lines’s payout ratio is currently 16.10%.
In other Delta Air Lines news, CEO Edward H. Bastian sold 25,000 shares of the business’s stock in a transaction dated Monday, May 22nd. The stock was sold at an average price of $48.55, for a total transaction of $1,213,750.00. Following the transaction, the chief executive officer now owns 285,508 shares in the company, valued at $13,861,413.40. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Joanne D. Smith sold 3,700 shares of the business’s stock in a transaction dated Wednesday, July 19th. The stock was sold at an average price of $54.00, for a total value of $199,800.00. Following the transaction, the executive vice president now owns 77,223 shares in the company, valued at approximately $4,170,042. The disclosure for this sale can be found here. In the last 90 days, insiders have acquired 399,000 shares of company stock worth $31,920 and have sold 126,831 shares worth $6,703,732. Insiders own 0.37% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Quadrature Capital Ltd acquired a new position in Delta Air Lines during the fourth quarter valued at approximately $716,000. Macquarie Group Ltd. boosted its position in Delta Air Lines by 180.5% in the fourth quarter. Macquarie Group Ltd. now owns 237,005 shares of the transportation company’s stock valued at $11,659,000 after buying an additional 152,505 shares during the period. Norman Fields Gottscho Capital Management LLC acquired a new position in Delta Air Lines during the first quarter valued at approximately $2,926,000. Chevy Chase Trust Holdings Inc. boosted its position in Delta Air Lines by 10.4% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 1,247,785 shares of the transportation company’s stock valued at $57,349,000 after buying an additional 117,858 shares during the period. Finally, Trust Co boosted its position in Delta Air Lines by 22.0% in the fourth quarter. Trust Co now owns 20,599 shares of the transportation company’s stock valued at $1,013,000 after buying an additional 3,712 shares during the period. Institutional investors own 87.65% of the company’s stock.
About Delta Air Lines
Delta Air Lines, Inc provides scheduled air transportation for passengers and cargo throughout the United States and across the world. The Company’s segments include Airline and Refinery. The Company’s route network is centered around a system of hub, international gateway and airports that the Company operates in Amsterdam, Atlanta, Boston, Detroit, London-Heathrow, Los Angeles, Minneapolis-St.
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