Delta Air Lines Inc. (DAL) Stock Price Up 1.9%
Delta Air Lines Inc. (NYSE:DAL) shares rose 1.9% during trading on Tuesday . The company traded as high as $37.60 and last traded at $37.25, with a volume of 6,223,524 shares. The stock had previously closed at $36.55.
Several analysts have recently issued reports on the company. Evercore Partners Inc. reaffirmed a “hold” rating on shares of Delta Air Lines in a report on Friday, July 15th. Imperial Capital assumed coverage on Delta Air Lines in a report on Wednesday, August 24th. They set an “in-line” rating and a $41.00 price objective on the stock. Credit Suisse Group AG upped their price objective on Delta Air Lines from $48.00 to $51.00 and gave the stock an “outperform” rating in a report on Wednesday, July 6th. Zacks Investment Research cut Delta Air Lines from a “hold” rating to a “sell” rating in a report on Monday, June 20th. Finally, Deutsche Bank AG raised Delta Air Lines from a “hold” rating to a “buy” rating and set a $48.00 price objective on the stock in a report on Tuesday, July 12th. Four equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $55.99.
The firm has a 50 day moving average price of $37.85 and a 200 day moving average price of $42.34. The company has a market capitalization of $28.12 billion and a PE ratio of 6.04.
Delta Air Lines (NYSE:DAL) last posted its earnings results 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 quarter in the prior year, the firm earned $1.27 EPS. Delta Air Lines’s revenue for the quarter was down 2.4% compared to the same quarter last year. On average, equities analysts anticipate that Delta Air Lines Inc. will post $5.81 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 2nd. Shareholders of record on Friday, August 12th will be given a $0.2025 dividend. The ex-dividend date of this dividend is Wednesday, August 10th. This represents a $0.81 dividend on an annualized basis and a yield of 2.20%. This is an increase from Delta Air Lines’s previous quarterly dividend of $0.14.
In other Delta Air Lines news, Chairman Richard H. Anderson sold 758,000 shares of Delta Air Lines stock in a transaction on Friday, July 15th. The stock was sold at an average price of $40.07, for a total value of $30,373,060.00. Following the sale, the chairman now owns 743,827 shares in the company, valued at $29,805,147.89. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Steven M. Sear sold 4,670 shares of Delta Air Lines stock in a transaction on Tuesday, August 30th. The shares were sold at an average price of $37.18, for a total value of $173,630.60. Following the completion of the sale, the executive vice president now owns 52,173 shares in the company, valued at approximately $1,939,792.14. The disclosure for this sale can be found here.
A number of large investors have bought and sold shares of DAL. 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 in the last quarter. 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 in the last quarter. 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 in the last quarter.
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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