Delta Air Lines Inc. (DAL) Trading Up 1.9%
Shares of Delta Air Lines Inc. (NYSE:DAL) were up 1.9% during mid-day trading on Tuesday . The stock traded as high as $37.60 and last traded at $37.25, with a volume of 6,223,524 shares changing hands. The stock had previously closed at $36.55.
Several analysts have recently issued reports on DAL shares. Cowen and Company restated an “outperform” rating and set a $55.00 target price on shares of Delta Air Lines in a research report on Thursday, August 11th. JPMorgan Chase & Co. decreased their target price on shares of Delta Air Lines from $63.00 to $48.50 and set an “overweight” rating on the stock in a research report on Wednesday, July 27th. Imperial Capital started coverage on shares of Delta Air Lines in a research report on Wednesday, August 24th. They set an “in-line” rating and a $41.00 target price on the stock. Sterne Agee CRT restated a “buy” rating on shares of Delta Air Lines in a research report on Monday, May 16th. Finally, Raymond James Financial Inc. restated an “outperform” rating on shares of Delta Air Lines in a research report on Wednesday, June 15th. Four investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $55.99.
The stock has a market capitalization of $28.17 billion and a P/E ratio of 6.05. The firm’s 50 day moving average is $37.97 and its 200 day moving average is $42.42.
Delta Air Lines (NYSE:DAL) last posted its earnings results on Thursday, July 14th. The company reported $1.47 earnings per share for the quarter, beating the consensus estimate of $1.42 by $0.05. The firm earned $10.45 billion during the quarter, compared to analyst estimates of $10.51 billion. During the same quarter in the previous year, the firm earned $1.27 earnings per share. The business’s revenue for the quarter was down 2.4% compared to the same quarter last year. Analysts anticipate that Delta Air Lines Inc. will post $5.81 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 2nd. Shareholders of record on Friday, August 12th will be issued a $0.2025 dividend. This is an increase from Delta Air Lines’s previous quarterly dividend of $0.14. The ex-dividend date of this dividend is Wednesday, August 10th. This represents a $0.81 annualized dividend and a yield of 2.18%.
In other news, CFO Paul A. Jacobson bought 25,000 shares of the firm’s stock in a transaction on Monday, July 25th. The shares were bought at an average cost of $38.91 per share, for a total transaction of $972,750.00. Following the acquisition, the chief financial officer now directly owns 328,631 shares of the company’s stock, valued at approximately $12,787,032.21. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Richard H. Anderson sold 758,000 shares of the business’s stock in a transaction dated Friday, July 15th. The shares were sold at an average price of $40.07, for a total transaction of $30,373,060.00. Following the completion of the transaction, the chairman now owns 743,827 shares in the company, valued at $29,805,147.89. The disclosure for this sale can be found here.
Several large investors recently added to or reduced their stakes in the stock. Schwab Charles Investment Management Inc. increased its stake in Delta Air Lines by 12.2% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 3,716,397 shares of the company’s stock worth $188,385,000 after buying an additional 404,763 shares during the period. American International Group Inc. increased its stake in Delta Air Lines by 12.9% in the fourth quarter. American International Group Inc. now owns 376,915 shares of the company’s stock worth $19,105,000 after buying an additional 43,127 shares during the period. Schroder Investment Management Group increased its stake in Delta Air Lines by 256.4% in the fourth quarter. Schroder Investment Management Group now owns 361,194 shares of the company’s stock worth $18,308,000 after buying an additional 259,860 shares during the period. Finally, Bank of Montreal Can increased its stake in Delta Air Lines by 25.2% in the fourth quarter. Bank of Montreal Can now owns 274,935 shares of the company’s stock worth $13,934,000 after buying an additional 55,255 shares during the period.
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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.