Delta Air Lines’ (DAL) Overweight Rating Reiterated at Morgan Stanley
Morgan Stanley reissued their overweight rating on shares of Delta Air Lines, Inc. (NYSE:DAL) in a research report report published on Wednesday. The firm currently has a $57.00 target price on the transportation company’s stock, up from their previous target price of $56.00.
Other equities analysts also recently issued research reports about the company. Deutsche Bank AG reissued a buy rating and set a $62.00 price target (up previously from $58.00) on shares of Delta Air Lines in a research report on Friday, July 14th. ValuEngine downgraded Delta Air Lines from a strong-buy rating to a buy rating in a research report on Tuesday, July 11th. Bank of America Corporation boosted their price target on Delta Air Lines from $64.00 to $71.00 and gave the stock a buy rating in a research report on Friday, June 30th. Stifel Nicolaus reissued a buy rating and set a $80.00 price target (up previously from $75.00) on shares of Delta Air Lines in a research report on Friday, July 14th. Finally, Vetr raised Delta Air Lines from a hold rating to a buy rating and set a $56.43 price target on the stock in a research report on Tuesday, July 18th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating, sixteen have assigned a buy rating and two have assigned a strong buy rating to the stock. The company presently has a consensus rating of Buy and a consensus price target of $61.91.
Shares of Delta Air Lines (DAL) traded up 0.64% during mid-day trading on Wednesday, reaching $52.01. The company had a trading volume of 6,735,370 shares. Delta Air Lines has a 12 month low of $37.91 and a 12 month high of $55.75. The firm’s 50-day moving average is $48.09 and its 200 day moving average is $49.25. The company has a market capitalization of $37.86 billion, a price-to-earnings ratio of 10.31 and a beta of 1.24.
Delta Air Lines (NYSE:DAL) last announced its quarterly earnings results on Thursday, July 13th. The transportation company reported $1.64 earnings per share for the quarter, missing analysts’ consensus estimates of $1.66 by ($0.02). The business had revenue of $10.79 billion for the quarter, compared to analyst estimates of $10.81 billion. Delta Air Lines had a return on equity of 28.33% and a net margin of 9.30%. Delta Air Lines’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same period last year, the firm earned $1.47 EPS. On average, equities research analysts predict that Delta Air Lines will post $5.12 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, September 13th. Investors of record on Wednesday, August 23rd were paid a $0.305 dividend. This is a boost from Delta Air Lines’s previous quarterly dividend of $0.20. This represents a $1.22 annualized dividend and a dividend yield of 2.35%. The ex-dividend date was Monday, August 21st. Delta Air Lines’s payout ratio is 24.25%.
In related news, VP Craig M. Meynard sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, July 14th. The stock was sold at an average price of $55.26, for a total value of $276,300.00. Following the completion of the sale, the vice president now directly owns 7,437 shares in the company, valued at $410,968.62. The sale was disclosed in a filing with the SEC, 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 bought at an average price of $45.44 per share, with a total value of $272,640.00. Following the completion of the purchase, the director now 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. Over the last quarter, insiders purchased 141,000 shares of company stock valued at $283,440 and sold 75,700 shares valued at $4,171,150. Insiders own 0.37% of the company’s stock.
Several hedge funds have recently modified their holdings of DAL. FNY Managed Accounts LLC bought a new stake in shares of Delta Air Lines in the first quarter valued at approximately $100,000. Mountain Capital Investment Advisors Inc acquired a new position in Delta Air Lines during the second quarter valued at approximately $114,000. Fjarde AP Fonden Fourth Swedish National Pension Fund raised its position in Delta Air Lines by 40.3% during the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 2,761 shares of the transportation company’s stock valued at $127,000 after purchasing an additional 793 shares in the last quarter. Ruggie Capital Group raised its position in Delta Air Lines by 1,187.0% during the first quarter. Ruggie Capital Group now owns 2,767 shares of the transportation company’s stock valued at $127,000 after purchasing an additional 2,552 shares in the last quarter. Finally, BB&T Investment Services Inc. acquired a new position in Delta Air Lines during the second quarter valued at approximately $128,000. Institutional investors and hedge funds 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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