Delta Air Lines (DAL) Downgraded to Strong Sell at Vetr
Vetr cut shares of Delta Air Lines (NYSE:DAL) from a sell rating to a strong sell rating in a report published on Wednesday. The firm currently has $45.16 price target on the transportation company’s stock.
A number of other brokerages have also weighed in on DAL. Zacks Investment Research lowered Delta Air Lines from a strong-buy rating to a hold rating in a report on Monday, August 21st. Imperial Capital reissued a hold rating and set a $50.00 price objective on shares of Delta Air Lines in a research report on Wednesday, September 6th. J P Morgan Chase & Co reissued an overweight rating and set a $63.00 price objective (down from $67.00) on shares of Delta Air Lines in a research report on Wednesday, September 27th. Cowen reissued a buy rating and set a $60.00 price objective on shares of Delta Air Lines in a research report on Tuesday, September 5th. Finally, Morgan Stanley dropped their target price on Delta Air Lines from $62.00 to $59.00 and set an overweight rating for the company in a research report on Thursday, August 17th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of Buy and a consensus target price of $63.39.
Delta Air Lines (NYSE:DAL) opened at $52.10 on Wednesday. The firm has a market cap of $36,062.18, a P/E ratio of 10.54, a P/E/G ratio of 1.54 and a beta of 1.28. Delta Air Lines has a fifty-two week low of $43.81 and a fifty-two week high of $55.75. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.43 and a quick ratio of 0.36.
Delta Air Lines (NYSE:DAL) last announced its earnings results on Wednesday, October 11th. The transportation company reported $1.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.53 by $0.04. Delta Air Lines had a return on equity of 26.50% and a net margin of 8.97%. The firm had revenue of $11.06 billion for the quarter, compared to analyst estimates of $11.03 billion. During the same quarter last year, the firm posted $1.70 EPS. The business’s revenue was up 5.5% on a year-over-year basis. analysts expect that Delta Air Lines will post 5 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 8th. Investors of record on Friday, November 17th will be issued a dividend of $0.305 per share. This represents a $1.22 dividend on an annualized basis and a yield of 2.34%. The ex-dividend date of this dividend is Thursday, November 16th. Delta Air Lines’s dividend payout ratio is presently 24.50%.
In other Delta Air Lines news, CEO Edward H. Bastian sold 159,240 shares of the company’s stock in a transaction on Thursday, October 12th. The stock was sold at an average price of $53.06, for a total value of $8,449,274.40. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Peter W. Carter sold 19,809 shares of the company’s stock in a transaction on Tuesday, November 21st. The shares were sold at an average price of $50.42, for a total value of $998,769.78. Following the completion of the sale, the executive vice president now directly owns 67,077 shares in the company, valued at approximately $3,382,022.34. The disclosure for this sale can be found here. Insiders sold 219,810 shares of company stock worth $11,629,103 in the last three months. 0.37% of the stock is owned by corporate insiders.
A number of institutional investors have recently bought and sold shares of DAL. IHT Wealth Management LLC lifted its position in Delta Air Lines by 40.9% during the second quarter. IHT Wealth Management LLC now owns 758 shares of the transportation company’s stock worth $146,000 after buying an additional 220 shares during the period. Mountain Capital Investment Advisors Inc purchased a new position in shares of Delta Air Lines in the 2nd quarter worth about $114,000. Bessemer Group Inc. raised its holdings in shares of Delta Air Lines by 104.3% in the 2nd quarter. Bessemer Group Inc. now owns 2,543 shares of the transportation company’s stock worth $137,000 after purchasing an additional 1,298 shares during the period. Advisory Services Network LLC raised its holdings in shares of Delta Air Lines by 3.0% in the 2nd quarter. Advisory Services Network LLC now owns 2,546 shares of the transportation company’s stock worth $137,000 after purchasing an additional 75 shares during the period. Finally, BB&T Investment Services Inc. acquired a new stake in shares of Delta Air Lines in the second quarter valued at about $128,000. 85.22% of the stock is currently owned by institutional investors.
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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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