Delta Air Lines, Inc. (NYSE:DAL) Receives $61.52 Average Price Target from Brokerages

Delta Air Lines, Inc. (NYSE:DAL) has been assigned an average rating of “Buy” from the thirteen brokerages that are currently covering the stock, MarketBeat Ratings reports. Eleven analysts have rated the stock with a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $61.83.

A number of analysts have weighed in on DAL shares. TD Cowen reduced their price target on Delta Air Lines from $61.00 to $59.00 and set a “buy” rating for the company in a research report on Wednesday, July 17th. Sanford C. Bernstein decreased their target price on Delta Air Lines from $66.00 to $62.00 and set an “outperform” rating for the company in a research note on Friday, July 12th. Jefferies Financial Group increased their target price on Delta Air Lines from $56.00 to $60.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, BNP Paribas upgraded Delta Air Lines to a “strong-buy” rating in a research note on Thursday, September 19th.

Delta Air Lines Price Performance

Shares of NYSE:DAL opened at $47.44 on Friday. Delta Air Lines has a fifty-two week low of $30.60 and a fifty-two week high of $53.86. The business has a 50-day moving average of $43.25 and a two-hundred day moving average of $46.67. The stock has a market capitalization of $30.61 billion, a P/E ratio of 6.83, a P/E/G ratio of 0.90 and a beta of 1.35. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.40 and a quick ratio of 0.35.

Delta Air Lines (NYSE:DAL) last announced its quarterly earnings results on Thursday, July 11th. The transportation company reported $2.36 earnings per share for the quarter, missing analysts’ consensus estimates of $2.37 by ($0.01). Delta Air Lines had a return on equity of 36.02% and a net margin of 7.46%. The company had revenue of $15.41 billion during the quarter, compared to analyst estimates of $15.45 billion. During the same period in the prior year, the firm earned $2.68 EPS. Delta Air Lines’s quarterly revenue was up 5.4% on a year-over-year basis. On average, equities research analysts predict that Delta Air Lines will post 6.18 EPS for the current fiscal year.

Delta Air Lines Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Thursday, October 10th will be issued a $0.15 dividend. The ex-dividend date of this dividend is Thursday, October 10th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.26%. Delta Air Lines’s payout ratio is presently 8.63%.

Insider Transactions at Delta Air Lines

In related news, Director Willie Cw Chiang bought 10,000 shares of the company’s stock in a transaction dated Friday, July 12th. The stock was acquired at an average cost of $43.90 per share, with a total value of $439,000.00. Following the acquisition, the director now owns 20,000 shares in the company, valued at approximately $878,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.96% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Delta Air Lines

A number of hedge funds and other institutional investors have recently bought and sold shares of DAL. Wellington Management Group LLP increased its holdings in Delta Air Lines by 220.2% during the 4th quarter. Wellington Management Group LLP now owns 8,600,741 shares of the transportation company’s stock valued at $346,008,000 after purchasing an additional 5,914,301 shares in the last quarter. Capital International Investors boosted its position in 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 buying an additional 1,689,053 shares during the last quarter. Royal London Asset Management Ltd. boosted its position in Delta Air Lines by 27.0% in the 4th quarter. Royal London Asset Management Ltd. now owns 6,467,749 shares of the transportation company’s stock valued at $260,198,000 after buying an additional 1,376,221 shares during the last quarter. Jupiter Asset Management Ltd. bought a new position in Delta Air Lines in the 2nd quarter valued at $60,217,000. Finally, Russell Investments Group Ltd. boosted its position in Delta Air Lines by 96.1% in the 1st quarter. Russell Investments Group Ltd. now owns 2,487,387 shares of the transportation company’s stock valued at $119,057,000 after buying an additional 1,219,074 shares during the last quarter. 69.93% of the stock is owned by institutional investors and hedge funds.

Delta Air Lines Company Profile

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.