Vetr downgraded shares of Delta Air Lines, Inc. (NYSE:DAL) from a strong-buy rating to a sell rating in a research report released on Monday. The brokerage currently has $45.16 price target on the transportation company’s stock.
Several other analysts have also recently weighed in on the stock. BidaskClub cut shares of Delta Air Lines from a strong-buy rating to a buy rating in a research note on Monday, July 24th. ValuEngine raised shares of Delta Air Lines from a buy rating to a strong-buy rating in a research note on Wednesday, August 2nd. Barclays PLC initiated coverage on shares of Delta Air Lines in a research note on Thursday, August 10th. They issued an overweight rating and a $70.00 price target for the company. Cowen and Company reissued a buy rating and issued a $66.00 price target on shares of Delta Air Lines in a research note on Monday, August 14th. Finally, Morgan Stanley dropped their price target on shares of Delta Air Lines from $62.00 to $59.00 and set an overweight rating for the company in a research note 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 issued a strong buy rating to the company. Delta Air Lines presently has an average rating of Buy and an average target price of $63.39.
Shares of Delta Air Lines (NYSE DAL) traded down $0.03 during midday trading on Monday, reaching $48.86. 5,182,500 shares of the company traded hands, compared to its average volume of 7,895,113. Delta Air Lines has a one year low of $43.81 and a one year high of $55.75. The stock has a market cap of $34,810.00, a PE ratio of 10.19, a PEG ratio of 1.48 and a beta of 1.28. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.36 and a current ratio of 0.43.
Delta Air Lines (NYSE:DAL) last announced its quarterly earnings data on Wednesday, October 11th. The transportation company reported $1.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.53 by $0.04. Delta Air Lines had a net margin of 8.97% and a return on equity of 26.50%. The company had revenue of $11.06 billion during the quarter, compared to analysts’ expectations of $11.03 billion. During the same quarter in the prior year, the company earned $1.70 EPS. Delta Air Lines’s revenue was up 5.5% compared to the same quarter last year. research analysts anticipate that Delta Air Lines will post 5.01 earnings per share for the current fiscal year.
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The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 8th. Stockholders of record on Friday, November 17th will be issued a $0.305 dividend. The ex-dividend date of this dividend is Thursday, November 16th. This represents a $1.22 annualized dividend and a dividend yield of 2.50%. Delta Air Lines’s dividend payout ratio is currently 24.45%.
In other Delta Air Lines news, EVP Joanne D. Smith sold 33,863 shares of the stock in a transaction that occurred on Friday, October 13th. The shares were sold at an average price of $53.61, for a total transaction of $1,815,395.43. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Edward H. Bastian sold 159,240 shares of the stock in a transaction that occurred on Thursday, October 12th. The stock was sold at an average price of $53.06, for a total transaction of $8,449,274.40. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 200,001 shares of company stock worth $10,630,333. 0.37% of the stock is owned by company insiders.
Institutional investors have recently added to or reduced their stakes in the business. Mutual of America Capital Management LLC lifted its holdings in Delta Air Lines by 68.0% during the 3rd quarter. Mutual of America Capital Management LLC now owns 151,376 shares of the transportation company’s stock worth $7,299,000 after buying an additional 61,298 shares in the last quarter. State of Tennessee Treasury Department raised its holdings in shares of Delta Air Lines by 78.0% in the 2nd quarter. State of Tennessee Treasury Department now owns 713,955 shares of the transportation company’s stock valued at $38,368,000 after purchasing an additional 312,863 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Delta Air Lines by 57.0% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 116,036 shares of the transportation company’s stock valued at $6,236,000 after purchasing an additional 42,150 shares in the last quarter. US Bancorp DE raised its holdings in shares of Delta Air Lines by 15.1% in the 2nd quarter. US Bancorp DE now owns 1,381,854 shares of the transportation company’s stock valued at $74,262,000 after purchasing an additional 181,027 shares in the last quarter. Finally, Wesbanco Bank Inc. raised its holdings in shares of Delta Air Lines by 2.7% in the 2nd quarter. Wesbanco Bank Inc. now owns 55,360 shares of the transportation company’s stock valued at $2,975,000 after purchasing an additional 1,475 shares in the last quarter. Institutional investors own 87.54% of the company’s stock.
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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