Delta Air Lines (NYSE:DAL) Price Target Raised to $63.00 at Imperial Capital

Delta Air Lines (NYSE:DAL) had its target price upped by Imperial Capital from $61.00 to $63.00 in a research report report published on Wednesday, Briefing.com Automated Import reports. They currently have an in-line rating on the transportation company’s stock. Imperial Capital also issued estimates for Delta Air Lines’ Q2 2019 earnings at $2.25 EPS, Q3 2019 earnings at $2.20 EPS, Q4 2019 earnings at $1.56 EPS, FY2019 earnings at $6.95 EPS, Q1 2020 earnings at $1.04 EPS, Q2 2020 earnings at $2.39 EPS, Q3 2020 earnings at $2.36 EPS, Q4 2020 earnings at $1.62 EPS and FY2020 earnings at $7.40 EPS.

Other equities research analysts have also recently issued research reports about the company. Credit Suisse Group boosted their target price on Delta Air Lines from $37.00 to $68.00 and gave the stock an outperform rating in a research note on Thursday, April 11th. Cowen boosted their price objective on Delta Air Lines from $62.00 to $67.00 and gave the company an outperform rating in a research note on Tuesday, April 2nd. Zacks Investment Research upgraded GCP Applied Technologies from a sell rating to a hold rating in a research note on Friday, May 31st. Stephens reiterated an overweight rating and issued a $70.00 price objective on shares of Delta Air Lines in a research note on Wednesday, July 3rd. Finally, Citigroup boosted their price objective on Vistra Energy from $32.00 to $36.00 and gave the company a buy rating in a research note on Thursday, April 11th. Seven research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. The stock currently has a consensus rating of Buy and a consensus price target of $67.18.

DAL stock opened at $61.65 on Wednesday. The stock’s 50 day simple moving average is $56.03. The stock has a market capitalization of $40.38 billion, a PE ratio of 9.62, a price-to-earnings-growth ratio of 0.49 and a beta of 1.18. Delta Air Lines has a fifty-two week low of $45.08 and a fifty-two week high of $62.24. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.29 and a current ratio of 0.34.

Delta Air Lines (NYSE:DAL) last posted its earnings results on Thursday, July 11th. The transportation company reported $2.35 earnings per share for the quarter, topping the consensus estimate of $2.28 by $0.07. The firm had revenue of $12.54 billion during the quarter, compared to analysts’ expectations of $12.49 billion. Delta Air Lines had a return on equity of 31.68% and a net margin of 9.85%. The firm’s revenue was up 6.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.77 earnings per share. Research analysts predict that Delta Air Lines will post 6.95 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Thursday, July 25th will be paid a $0.4025 dividend. This represents a $1.61 dividend on an annualized basis and a yield of 2.61%. This is a boost from Delta Air Lines’s previous quarterly dividend of $0.35. Delta Air Lines’s payout ratio is currently 24.78%.

In other news, CEO Edward H. Bastian sold 30,000 shares of the company’s stock in a transaction that occurred on Monday, April 22nd. The stock was sold at an average price of $57.50, for a total transaction of $1,725,000.00. Following the completion of the sale, the chief executive officer now owns 354,191 shares in the company, valued at $20,365,982.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Steven M. Sear sold 8,993 shares of the company’s stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $53.27, for a total value of $479,057.11. Following the sale, the insider now owns 76,150 shares of the company’s stock, valued at approximately $4,056,510.50. The disclosure for this sale can be found here. Insiders have sold 65,003 shares of company stock valued at $3,709,180 in the last 90 days. Company insiders own 0.47% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in DAL. Comerica Securities Inc. purchased a new stake in shares of Delta Air Lines during the fourth quarter worth approximately $200,000. Bessemer Group Inc. grew its holdings in Delta Air Lines by 9.5% during the fourth quarter. Bessemer Group Inc. now owns 6,658 shares of the transportation company’s stock worth $332,000 after acquiring an additional 579 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its holdings in Delta Air Lines by 8.3% during the fourth quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 58,577 shares of the transportation company’s stock worth $2,923,000 after acquiring an additional 4,506 shares during the period. Dimensional Fund Advisors LP grew its holdings in Delta Air Lines by 0.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 7,801,924 shares of the transportation company’s stock worth $389,356,000 after acquiring an additional 50,255 shares during the period. Finally, Natixis Advisors L.P. grew its holdings in Delta Air Lines by 9.0% during the fourth quarter. Natixis Advisors L.P. now owns 121,514 shares of the transportation company’s stock worth $6,063,000 after acquiring an additional 9,995 shares during the period. Institutional investors and hedge funds own 87.21% of the company’s stock.

Delta Air Lines Company Profile

Delta Air Lines, Inc provides scheduled air transportation for passengers and cargo in the United States and internationally. The company operates through two segments, Airline and Refinery. Its route network is centered on a system of hubs and markets at airports in Amsterdam, Atlanta, Boston, Detroit, London-Heathrow, Los Angeles, Mexico City, Minneapolis-St.

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Analyst Recommendations for Delta Air Lines (NYSE:DAL)

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