Delta Air Lines, Inc. (NYSE:DAL)‘s stock had its “in-line” rating reiterated by equities research analysts at Imperial Capital in a note issued to investors on Friday. They presently have a $52.00 price target on the transportation company’s stock. Imperial Capital’s target price indicates a potential upside of 9.11% from the company’s current price.
A number of other brokerages have also weighed in on DAL. Morgan Stanley reaffirmed an “overweight” rating and set a $60.00 price objective on shares of Delta Air Lines in a report on Wednesday, February 22nd. Zacks Investment Research lowered Delta Air Lines from a “buy” rating to a “hold” rating in a report on Friday, February 17th. Vetr lowered Delta Air Lines from a “strong-buy” rating to a “buy” rating and set a $55.26 price objective on the stock. in a report on Monday, January 23rd. Cowen and Company reaffirmed an “outperform” rating and set a $60.00 price objective on shares of Delta Air Lines in a report on Monday, March 6th. Finally, Sanford C. Bernstein reiterated a “market perform” rating and set a $44.00 target price on shares of Delta Air Lines in a research report on Friday, March 3rd. Four analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $53.26.
Shares of Delta Air Lines (NYSE:DAL) traded up 1.626% on Friday, hitting $48.435. The stock had a trading volume of 2,124,963 shares. The firm has a 50 day moving average of $46.71 and a 200 day moving average of $48.08. The stock has a market cap of $35.26 billion, a P/E ratio of 8.933 and a beta of 0.75. Delta Air Lines has a 12 month low of $32.60 and a 12 month high of $52.76.
Delta Air Lines (NYSE:DAL) last announced its quarterly earnings data on Wednesday, April 12th. The transportation company reported $0.77 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.73 by $0.04. Delta Air Lines had a return on equity of 33.59% and a net margin of 11.03%. The firm had revenue of $9.15 billion for the quarter, compared to analyst estimates of $9.14 billion. During the same quarter in the prior year, the company posted $1.32 earnings per share. Delta Air Lines’s quarterly revenue was down 1.1% on a year-over-year basis. On average, equities analysts forecast that Delta Air Lines will post $5.12 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 9th. Stockholders of record on Friday, May 19th will be given a $0.2025 dividend. The ex-dividend date of this dividend is Wednesday, May 17th. This represents a $0.81 annualized dividend and a dividend yield of 1.70%. Delta Air Lines’s dividend payout ratio is currently 14.04%.
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In related news, EVP Joanne D. Smith sold 4,475 shares of the company’s stock in a transaction on Friday, May 12th. The stock was sold at an average price of $49.32, for a total value of $220,707.00. Following the completion of the transaction, the executive vice president now directly owns 85,398 shares in the company, valued at $4,211,829.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Francis S. Blake bought 5,665 shares of the company’s stock in a transaction that occurred on Monday, April 17th. The stock was acquired at an average price of $44.12 per share, with a total value of $249,939.80. Following the completion of the purchase, the director now directly owns 24,187 shares of the company’s stock, valued at approximately $1,067,130.44. The disclosure for this purchase can be found here. Insiders bought 274,165 shares of company stock worth $271,620 over the last 90 days. Company insiders own 0.75% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in the stock. Willingdon Wealth Management raised its position in Delta Air Lines by 24.0% in the third quarter. Willingdon Wealth Management now owns 12,400 shares of the transportation company’s stock valued at $488,000 after buying an additional 2,400 shares during the last quarter. Nordea Investment Management AB raised its position in Delta Air Lines by 0.3% in the third quarter. Nordea Investment Management AB now owns 1,851,607 shares of the transportation company’s stock valued at $72,879,000 after buying an additional 5,604 shares during the last quarter. Gilder Gagnon Howe & Co. LLC raised its position in Delta Air Lines by 6,058.3% in the third quarter. Gilder Gagnon Howe & Co. LLC now owns 162,886 shares of the transportation company’s stock valued at $6,411,000 after buying an additional 160,241 shares during the last quarter. Montgomery Investment Management Inc. raised its position in Delta Air Lines by 94.4% in the third quarter. Montgomery Investment Management Inc. now owns 40,200 shares of the transportation company’s stock valued at $1,581,000 after buying an additional 19,520 shares during the last quarter. Finally, Physicians Financial Services Inc. acquired a new position in Delta Air Lines during the third quarter valued at approximately $110,000. Hedge funds and other institutional investors own 79.44% 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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