Delta Air Lines, Inc. (NYSE:DAL) Receives $58.29 Consensus PT from Brokerages

Delta Air Lines, Inc. (NYSE:DAL) has received an average recommendation of “Buy” from the eleven brokerages that are covering the firm, MarketBeat Ratings reports. Ten investment analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $58.29.

DAL has been the topic of several recent research reports. Morgan Stanley restated an “overweight” rating and issued a $85.00 price target on shares of Delta Air Lines in a research report on Thursday, April 11th. StockNews.com lowered Delta Air Lines from a “buy” rating to a “hold” rating in a research note on Thursday, February 22nd. Susquehanna upped their price objective on Delta Air Lines from $47.00 to $54.00 and gave the stock a “positive” rating in a report on Tuesday, April 9th. Deutsche Bank Aktiengesellschaft increased their price target on Delta Air Lines from $50.00 to $60.00 and gave the company a “buy” rating in a report on Thursday, April 11th. Finally, Bank of America increased their price target on Delta Air Lines from $53.00 to $55.00 and gave the company a “buy” rating in a report on Thursday, April 11th.

Insider Transactions at Delta Air Lines

In other Delta Air Lines news, President Glen W. Hauenstein sold 100,000 shares of the firm’s stock in a transaction dated Monday, April 22nd. The shares were sold at an average price of $49.05, for a total value of $4,905,000.00. Following the transaction, the president now owns 217,584 shares of the company’s stock, valued at $10,672,495.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, EVP Alain Bellemare sold 24,073 shares of the firm’s stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of $48.86, for a total transaction of $1,176,206.78. Following the transaction, the executive vice president now owns 141,451 shares in the company, valued at $6,911,295.86. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, President Glen W. Hauenstein sold 100,000 shares of the firm’s stock in a transaction that occurred on Monday, April 22nd. The shares were sold at an average price of $49.05, for a total transaction of $4,905,000.00. Following the transaction, the president now owns 217,584 shares in the company, valued at approximately $10,672,495.20. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 174,073 shares of company stock valued at $8,581,207. Insiders own 0.89% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in DAL. Wellington Management Group LLP grew its position in Delta Air Lines by 220.2% in the fourth quarter. Wellington Management Group LLP now owns 8,600,741 shares of the transportation company’s stock worth $346,008,000 after buying an additional 5,914,301 shares during the last quarter. Capital International Investors lifted its stake in shares of Delta Air Lines by 8.8% in the 4th quarter. Capital International Investors now owns 20,936,699 shares of the transportation company’s stock valued at $842,283,000 after purchasing an additional 1,689,053 shares during the last quarter. Norges Bank bought a new position in Delta Air Lines in the 4th quarter worth $65,056,000. Jennison Associates LLC increased its holdings in shares of Delta Air Lines by 145.2% during the 4th quarter. Jennison Associates LLC now owns 2,618,627 shares of the transportation company’s stock worth $105,347,000 after purchasing an additional 1,550,770 shares during the period. Finally, Royal London Asset Management Ltd. increased its holdings in shares of Delta Air Lines by 27.0% during the 4th quarter. Royal London Asset Management Ltd. now owns 6,467,749 shares of the transportation company’s stock worth $260,198,000 after purchasing an additional 1,376,221 shares during the period. Institutional investors and hedge funds own 69.93% of the company’s stock.

Delta Air Lines Stock Up 2.0 %

Delta Air Lines stock opened at $51.03 on Tuesday. Delta Air Lines has a fifty-two week low of $30.60 and a fifty-two week high of $51.19. The company has a debt-to-equity ratio of 1.48, a quick ratio of 0.36 and a current ratio of 0.41. The company has a market capitalization of $32.66 billion, a P/E ratio of 6.56, a PEG ratio of 0.74 and a beta of 1.38. The stock has a 50-day simple moving average of $45.79 and a 200-day simple moving average of $40.60.

Delta Air Lines (NYSE:DAL) last posted its earnings results on Thursday, April 11th. The transportation company reported $0.45 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.09. The business had revenue of $13.75 billion during the quarter, compared to the consensus estimate of $12.51 billion. Delta Air Lines had a return on equity of 41.89% and a net margin of 8.48%. The business’s quarterly revenue was up 7.8% on a year-over-year basis. During the same period in the previous year, the business earned $0.25 EPS. Equities research analysts expect that Delta Air Lines will post 6.55 earnings per share for the current year.

Delta Air Lines Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 4th. Stockholders of record on Tuesday, May 14th will be given a dividend of $0.10 per share. The ex-dividend date is Monday, May 13th. This represents a $0.40 annualized dividend and a dividend yield of 0.78%. Delta Air Lines’s payout ratio is 5.14%.

About Delta Air Lines

Delta Air Lines, Inc provides scheduled air transportation for passengers and cargo in the United States and internationally. The company operates through two segments, Airline and Refinery. Its domestic network centered on core hubs in Atlanta, Minneapolis-St. Paul, Detroit, and Salt Lake City, as well as coastal hub positions in Boston, Los Angeles, New York-LaGuardia, New York-JFK, and Seattle; and international network centered on hubs and market presence in Amsterdam, Bogota, Lima, Mexico City, London-Heathrow, Paris-Charles de Gaulle, Sao Paulo, Seoul-Incheon, and Tokyo.