Zacks Investment Research upgraded shares of Delta Air Lines, Inc. (NYSE:DAL) from a sell rating to a hold rating in a report issued on Friday.
According to Zacks, “Shares of Delta Air Lines have struggled so far this year due to multiple headwinds. Consequently, the stock has underperformed its industry on a year-to-date basis. In the third quarter of 2017, earnings per share declined 7.6% on a year-over-year basis owing to higher costs. However, non-fuel consolidated unit cost or cost per available seat mile (CASM: normalized), including profit sharing, rose 2.6% backed by increase in wage. The metric is expected to increase in the band of 4% to 5% in the fourth quarter. We are appreciative of the company's efforts to enhance its shareholders’ wealth through dividends and share buybacks. The company's fourth-quarter view on passenger unit revenues is also encouraging. The carrier's efforts to maintain capacity discipline is an added positive. In sync with this, the rise in October load factor owing to traffic growth outpacing capacity expansion raises optimism in the stock.”
A number of other research firms also recently issued reports on DAL. Cowen and Company lifted their price objective on Delta Air Lines from $58.00 to $66.00 and gave the stock an outperform rating in a research note on Thursday, July 13th. Evercore ISI reaffirmed an outperform rating and issued a $66.00 price objective on shares of Delta Air Lines in a research note on Friday, July 14th. Stifel Nicolaus reaffirmed a buy rating and issued a $80.00 price objective (up previously from $75.00) on shares of Delta Air Lines in a research note on Friday, July 14th. Deutsche Bank AG reaffirmed a buy rating and issued a $62.00 price objective (up previously from $58.00) on shares of Delta Air Lines in a research note on Friday, July 14th. Finally, Morgan Stanley reaffirmed an overweight rating and issued a $62.00 price objective (down previously from $63.00) on shares of Delta Air Lines in a research note on Friday, July 14th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. Delta Air Lines presently has an average rating of Buy and an average price target of $63.39.
Delta Air Lines (NYSE:DAL) traded up $0.01 during trading hours on Friday, reaching $48.87. The company’s stock had a trading volume of 1,349,990 shares, compared to its average volume of 7,895,113. The company has a current ratio of 0.43, a quick ratio of 0.36 and a debt-to-equity ratio of 0.54. Delta Air Lines has a 1-year low of $43.81 and a 1-year high of $55.75. The company has a market cap of $34,840.00, a P/E ratio of 10.19, a price-to-earnings-growth ratio of 1.48 and a beta of 1.28.
Delta Air Lines (NYSE:DAL) last released its quarterly earnings data on Wednesday, October 11th. The transportation company reported $1.57 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate 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 business had revenue of $11.06 billion for the quarter, compared to the consensus estimate of $11.03 billion. During the same quarter in the previous year, the company posted $1.70 EPS. The company’s revenue was up 5.5% compared to the same quarter last year. equities research analysts expect that Delta Air Lines will post 5.01 EPS for the current fiscal year.
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The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 8th. Shareholders of record on Friday, November 17th will be given a $0.305 dividend. This represents a $1.22 annualized dividend and a yield of 2.50%. The ex-dividend date of this dividend is Thursday, November 16th. Delta Air Lines’s dividend payout ratio (DPR) is presently 24.45%.
In other Delta Air Lines news, Director George N. Mattson acquired 6,000 shares of the business’s stock in a transaction on Thursday, August 24th. The shares were bought at an average price of $45.44 per share, with a total value of $272,640.00. Following the transaction, the director now directly owns 61,510 shares of the company’s stock, valued at approximately $2,795,014.40. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Edward H. Bastian sold 159,240 shares of the company’s stock in a transaction on Thursday, October 12th. The shares were sold at an average price of $53.06, for a total value of $8,449,274.40. The disclosure for this sale can be found here. Insiders sold a total of 200,001 shares of company stock worth $10,630,333 in the last ninety days. 0.37% of the stock is currently owned by corporate insiders.
Institutional investors have recently made changes to their positions in the business. Roundview Capital LLC lifted its holdings in shares of Delta Air Lines by 0.3% in the 2nd quarter. Roundview Capital LLC now owns 5,115 shares of the transportation company’s stock worth $275,000 after buying an additional 15 shares during the period. Patten Group Inc. lifted its holdings in shares of Delta Air Lines by 0.3% in the 1st quarter. Patten Group Inc. now owns 9,307 shares of the transportation company’s stock worth $420,000 after buying an additional 30 shares during the period. Traynor Capital Management Inc. lifted its holdings in shares of Delta Air Lines by 1.2% in the 2nd quarter. Traynor Capital Management Inc. now owns 4,911 shares of the transportation company’s stock worth $246,000 after buying an additional 58 shares during the period. MUFG Securities EMEA plc lifted its holdings in shares of Delta Air Lines by 1.2% in the 2nd quarter. MUFG Securities EMEA plc now owns 5,307 shares of the transportation company’s stock worth $285,000 after buying an additional 65 shares during the period. Finally, Advisory Services Network LLC lifted 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 buying an additional 75 shares during the period. 87.54% of the stock is currently owned by institutional investors.
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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