Stifel Nicolaus Reaffirms “Buy” Rating for Delta Air Lines, Inc. (DAL)
Stifel Nicolaus reaffirmed their buy rating on shares of Delta Air Lines, Inc. (NYSE:DAL) in a research report sent to investors on Friday. They currently have a $75.00 price target on the transportation company’s stock, down from their prior price target of $80.00.
Other equities research analysts have also recently issued reports about the stock. Bank of America Corporation raised their price target on shares of Delta Air Lines from $64.00 to $71.00 and gave the stock a buy rating in a research note on Friday, June 30th. Vetr cut shares of Delta Air Lines from a strong-buy rating to a buy rating and set a $55.68 price target on the stock. in a research note on Thursday, June 1st. ValuEngine cut shares of Delta Air Lines from a strong-buy rating to a buy rating in a research note on Tuesday, July 11th. Deutsche Bank AG reaffirmed a buy rating and set a $62.00 price target (up from $58.00) on shares of Delta Air Lines in a research note on Friday, July 14th. Finally, BidaskClub cut shares of Delta Air Lines from a strong-buy rating to a buy rating in a research note on Monday, July 24th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating, sixteen have given a buy rating and two have issued a strong buy rating to the stock. The company presently has an average rating of Buy and an average target price of $61.63.
Delta Air Lines (DAL) opened at 48.33 on Friday. The firm’s 50-day moving average is $48.31 and its 200-day moving average is $49.10. Delta Air Lines has a 52 week low of $37.91 and a 52 week high of $55.75. The stock has a market capitalization of $35.18 billion, a P/E ratio of 9.58 and a beta of 1.25.
Delta Air Lines (NYSE:DAL) last released its quarterly earnings results on Thursday, July 13th. The transportation company reported $1.64 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.66 by ($0.02). Delta Air Lines had a return on equity of 28.33% and a net margin of 9.30%. The firm had revenue of $10.79 billion for the quarter, compared to analyst estimates of $10.81 billion. During the same period in the prior year, the business earned $1.47 earnings per share. Delta Air Lines’s revenue for the quarter was up 3.3% on a year-over-year basis. On average, equities research analysts predict that Delta Air Lines will post $5.12 EPS for the current fiscal year.
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The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 13th. Investors of record on Wednesday, August 23rd were issued a $0.305 dividend. This is a positive change from Delta Air Lines’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Monday, August 21st. This represents a $1.22 annualized dividend and a yield of 2.52%. Delta Air Lines’s dividend payout ratio (DPR) is presently 24.25%.
In related news, EVP Joanne D. Smith sold 3,700 shares of the firm’s stock in a transaction that occurred on Wednesday, July 19th. The shares were sold at an average price of $54.00, for a total value of $199,800.00. Following the transaction, the executive vice president now owns 77,223 shares in the company, valued at $4,170,042. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director George N. Mattson purchased 6,000 shares of the business’s stock in a transaction that occurred on Thursday, August 24th. The stock was acquired at an average price of $45.44 per share, for a total transaction of $272,640.00. Following the acquisition, the director now directly owns 61,510 shares of the company’s stock, valued at approximately $2,795,014.40. The disclosure for this purchase can be found here. In the last 90 days, insiders purchased 191,000 shares of company stock worth $287,440 and sold 75,700 shares worth $4,171,150. Company insiders own 0.37% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Lord Abbett & CO. LLC raised its holdings in Delta Air Lines by 35.3% in the second quarter. Lord Abbett & CO. LLC now owns 826,685 shares of the transportation company’s stock valued at $44,426,000 after buying an additional 215,825 shares during the period. Sentry Investment Management LLC raised its holdings in Delta Air Lines by 1.4% in the second quarter. Sentry Investment Management LLC now owns 122,528 shares of the transportation company’s stock valued at $6,585,000 after buying an additional 1,654 shares during the period. Toronto Dominion Bank raised its holdings in Delta Air Lines by 27.1% in the second quarter. Toronto Dominion Bank now owns 243,113 shares of the transportation company’s stock valued at $13,063,000 after buying an additional 51,859 shares during the period. Cookson Peirce & Co. Inc. purchased a new position in Delta Air Lines in the second quarter valued at approximately $263,000. Finally, Cetera Investment Advisers raised its holdings in Delta Air Lines by 29.1% in the second quarter. Cetera Investment Advisers now owns 6,418 shares of the transportation company’s stock valued at $345,000 after buying an additional 1,448 shares during the period. Hedge funds and other institutional investors own 86.26% of the company’s stock.
Delta Air Lines Company Profile
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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