Delta Air Lines Inc. (DAL) Sees Unusually-High Trading Volume
Delta Air Lines Inc. (NYSE:DAL) saw strong trading volume on Wednesday . 9,350,398 shares changed hands during mid-day trading, an increase of 6% from the previous session’s volume of 8,844,493 shares.The stock last traded at $36.35 and had previously closed at $37.16.
Several analysts have issued reports on the company. Evercore Partners Inc. restated a “hold” rating on shares of Delta Air Lines in a report on Friday, July 15th. Zacks Investment Research cut Delta Air Lines from a “hold” rating to a “sell” rating in a report on Monday, June 20th. Deutsche Bank AG upped their target price on Delta Air Lines from $48.00 to $49.00 and gave the company a “buy” rating in a report on Monday, July 18th. Credit Suisse Group AG upped their target price on Delta Air Lines from $48.00 to $51.00 and gave the company an “outperform” rating in a report on Wednesday, July 6th. Finally, Argus restated a “buy” rating and issued a $60.00 target price on shares of Delta Air Lines in a report on Friday, July 15th. Four research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $55.99.
The company’s 50-day moving average price is $37.94 and its 200-day moving average price is $42.38. The firm has a market cap of $27.86 billion and a price-to-earnings ratio of 5.99.
Delta Air Lines (NYSE:DAL) last announced its quarterly earnings data on Thursday, July 14th. The company reported $1.47 EPS for the quarter, beating the Zacks’ consensus estimate of $1.42 by $0.05. The business earned $10.45 billion during the quarter, compared to analysts’ expectations of $10.51 billion. During the same period in the prior year, the firm earned $1.27 EPS. Delta Air Lines’s revenue for the quarter was down 2.4% on a year-over-year basis. Analysts forecast that Delta Air Lines Inc. will post $5.81 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 2nd. Stockholders of record on Friday, August 12th will be given a $0.2025 dividend. This is a positive change from Delta Air Lines’s previous quarterly dividend of $0.14. This represents a $0.81 dividend on an annualized basis and a dividend yield of 2.20%. The ex-dividend date of this dividend is Wednesday, August 10th.
In other news, CFO Paul A. Jacobson purchased 25,000 shares of the stock in a transaction on Monday, July 25th. The stock was purchased at an average price of $38.91 per share, with a total value of $972,750.00. Following the completion of the transaction, the chief financial officer now owns 328,631 shares in the company, valued at $12,787,032.21. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director George N. Mattson purchased 10,000 shares of the stock in a transaction on Wednesday, August 3rd. The shares were purchased at an average cost of $36.50 per share, with a total value of $365,000.00. Following the transaction, the director now owns 54,750 shares of the company’s stock, valued at approximately $1,998,375. The disclosure for this purchase can be found here.
A number of large investors have recently bought and sold shares of DAL. 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. 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. 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. Finally, 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.
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.