Delta Air Lines’ (DAL) “In-Line” Rating Reaffirmed at Imperial Capital
A number of other equities research analysts have also weighed in on DAL. Morgan Stanley restated an overweight rating on shares of Delta Air Lines in a research note on Saturday, January 7th. Sanford C. Bernstein restated a market perform rating and set a $57.00 price target (up previously from $44.00) on shares of Delta Air Lines in a research note on Wednesday, December 21st. Vetr upgraded Delta Air Lines from a sell rating to a hold rating and set a $48.28 price target on the stock in a research note on Tuesday, December 13th. Cowen and Company upped their target price on Delta Air Lines from $57.00 to $60.00 and gave the company an outperform rating in a research report on Friday, January 13th. Finally, Zacks Investment Research lowered Delta Air Lines from a hold rating to a strong sell rating in a research report on Friday, December 9th. Four equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. Delta Air Lines presently has a consensus rating of Buy and a consensus price target of $54.66.
Delta Air Lines (NYSE:DAL) traded up 0.97% during midday trading on Friday, hitting $46.96. 2,969,953 shares of the stock traded hands. Delta Air Lines has a 12 month low of $32.60 and a 12 month high of $52.76. The firm has a market cap of $34.19 billion, a PE ratio of 8.11 and a beta of 0.75. The company’s 50 day moving average price is $48.91 and its 200 day moving average price is $45.73.
Delta Air Lines (NYSE:DAL) last issued its quarterly earnings results on Thursday, January 12th. The company reported $0.82 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.82. Delta Air Lines had a return on equity of 33.59% and a net margin of 11.03%. The business had revenue of $9.46 billion for the quarter, compared to analyst estimates of $9.40 billion. During the same quarter in the previous year, the firm earned $1.18 earnings per share. The company’s revenue was down .5% on a year-over-year basis. Equities research analysts predict that Delta Air Lines will post $5.11 earnings per share for the current fiscal year.
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The business also recently disclosed a quarterly dividend, which was paid on Friday, March 17th. Shareholders of record on Friday, February 24th were given a $0.2025 dividend. The ex-dividend date was Wednesday, February 22nd. This represents a $0.81 annualized dividend and a yield of 1.74%. Delta Air Lines’s dividend payout ratio is presently 14.04%.
In other news, CEO Edward H. Bastian sold 103,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 21st. The stock was sold at an average price of $50.77, for a total transaction of $5,229,310.00. Following the completion of the transaction, the chief executive officer now directly owns 275,202 shares of the company’s stock, valued at approximately $13,972,005.54. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Paul A. Jacobson sold 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 1st. The stock was sold at an average price of $47.32, for a total value of $946,400.00. Following the transaction, the chief financial officer now directly owns 323,819 shares of the company’s stock, valued at $15,323,115.08. The disclosure for this sale can be found here. In the last 90 days, insiders acquired 66,500 shares of company stock worth $54,680 and sold 202,417 shares worth $10,204,341. Corporate insiders own 0.75% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the company. TD Asset Management Inc. increased its position in shares of Delta Air Lines by 4.0% in the third quarter. TD Asset Management Inc. now owns 385,383 shares of the company’s stock valued at $15,169,000 after buying an additional 14,810 shares during the last quarter. Virtus Investment Advisers Inc. acquired a new position in shares of Delta Air Lines during the third quarter valued at $318,000. Rhumbline Advisers increased its position in shares of Delta Air Lines by 3.8% in the third quarter. Rhumbline Advisers now owns 1,199,633 shares of the company’s stock valued at $47,218,000 after buying an additional 44,121 shares during the last quarter. Hanlon Investment Management Inc. acquired a new position in shares of Delta Air Lines during the fourth quarter valued at $2,816,000. Finally, Daiwa Securities Group Inc. increased its position in shares of Delta Air Lines by 8.5% in the third quarter. Daiwa Securities Group Inc. now owns 155,061 shares of the company’s stock valued at $6,103,000 after buying an additional 12,181 shares during the last quarter. 79.44% of the stock is owned by institutional investors and hedge funds.
About Delta Air Lines
Delta Air Lines, Inc provides scheduled air transportation for passengers and cargo throughout the United States and across the world. The Company’s segments include Airline and Refinery. The Company’s route network is centered around a system of hub, international gateway and airports that the Company operates in Amsterdam, Atlanta, Boston, Detroit, London-Heathrow, Los Angeles, Minneapolis-St.
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