Shares of Delta Air Lines Inc. (NYSE:DAL) have received a consensus rating of “Buy” from the twenty analysts that are presently covering the stock. Four equities research analysts have rated the stock with a hold recommendation and sixteen have issued a buy recommendation on the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $52.16.
A number of analysts recently weighed in on the stock. Piper Jaffray Cos. set a $35.00 price objective on shares of Delta Air Lines and gave the stock a “buy” rating in a research note on Sunday, August 21st. Raymond James Financial Inc. reaffirmed an “outperform” rating on shares of Delta Air Lines in a research note on Wednesday, June 15th. Argus reaffirmed a “buy” rating and issued a $60.00 price objective on shares of Delta Air Lines in a research note on Friday, July 15th. Morgan Stanley reiterated a “buy” rating on shares of Delta Air Lines in a report on Friday, June 10th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Delta Air Lines from $63.00 to $48.50 and set an “overweight” rating for the company in a report on Wednesday, July 27th.
In other news, Chairman Richard H. Anderson sold 758,000 shares of the stock in a transaction that occurred on Friday, July 15th. The stock was sold at an average price of $40.07, for a total transaction of $30,373,060.00. Following the transaction, the chairman now owns 743,827 shares in the company, valued at approximately $29,805,147.89. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director George N. Mattson bought 10,000 shares of the firm’s stock in a transaction dated Wednesday, August 3rd. The shares were acquired at an average price of $36.50 per share, for a total transaction of $365,000.00. Following the transaction, the director now directly owns 54,750 shares in the company, valued at $1,998,375. The disclosure for this purchase can be found here. 0.75% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in DAL. Adage Capital Partners GP L.L.C. raised its position in shares of Delta Air Lines by 74.0% in the first quarter. Adage Capital Partners GP L.L.C. now owns 7,142,571 shares of the company’s stock worth $347,700,000 after buying an additional 3,037,891 shares during the period. Emerald Acquisition Ltd. acquired a new position in shares of Delta Air Lines during the second quarter worth about $91,336,000. Institutional Capital LLC raised its position in shares of Delta Air Lines by 132.5% in the first quarter. Institutional Capital LLC now owns 3,941,006 shares of the company’s stock worth $191,848,000 after buying an additional 2,245,719 shares during the period. RidgeWorth Capital Management LLC raised its position in shares of Delta Air Lines by 181.6% in the second quarter. RidgeWorth Capital Management LLC now owns 3,189,431 shares of the company’s stock worth $117,275,000 after buying an additional 2,056,771 shares during the period. Finally, NN Investment Partners Holdings N.V. acquired a new position in shares of Delta Air Lines during the first quarter worth about $96,984,000. Hedge funds and other institutional investors own 84.52% of the company’s stock.
Delta Air Lines (NYSE:DAL) opened at 39.36 on Wednesday. The stock has a market cap of $29.83 billion, a P/E ratio of 6.41 and a beta of 0.90. The company has a 50 day moving average of $37.54 and a 200-day moving average of $40.93. Delta Air Lines has a 12-month low of $32.60 and a 12-month high of $52.77.
Delta Air Lines (NYSE:DAL) last released its quarterly earnings data on Thursday, July 14th. The company reported $1.47 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.42 by $0.05. Delta Air Lines had a net margin of 11.88% and a return on equity of 40.31%. The company earned $10.45 billion during the quarter, compared to analyst estimates of $10.51 billion. During the same period in the prior year, the firm earned $1.27 earnings per share. The firm’s revenue for the quarter was down 2.4% compared to the same quarter last year. Equities analysts forecast that Delta Air Lines will post $5.70 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 2nd. Shareholders of record on Friday, August 12th were given a $0.2025 dividend. This represents a $0.81 annualized dividend and a yield of 2.06%. The ex-dividend date was Wednesday, August 10th. This is a positive change from Delta Air Lines’s previous quarterly dividend of $0.14. Delta Air Lines’s dividend payout ratio is currently 13.19%.
About Delta Air Lines
Delta Air Lines, Inc provides scheduled air transportation for passengers and cargo throughout the United States and around the world. The Company’s operates through segments, including Airline Segment and Refinery Segment. The Airline segment is managed as a single business unit that provides scheduled air transportation for passengers and cargo throughout the United States and around the world and other ancillary airline services.
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