Delta Air Lines’ (DAL) “Outperform” Rating Reiterated at Cowen

Cowen reissued their outperform rating on shares of Delta Air Lines (NYSE:DAL) in a research note released on Thursday morning, Briefing.com Automated Import reports. They currently have a $69.00 target price on the transportation company’s stock, up from their prior target price of $67.00.

Several other equities research analysts have also weighed in on DAL. Credit Suisse Group upped their price objective on Delta Air Lines from $37.00 to $68.00 and gave the company an outperform rating in a research note on Thursday, April 11th. Zacks Investment Research upgraded GCP Applied Technologies from a sell rating to a hold rating in a research note on Friday, May 31st. Imperial Capital lowered their price objective on Montage Resources from $9.00 to $6.00 and set an inline rating on the stock in a research note on Wednesday. Citigroup upped their price objective on Vistra Energy from $32.00 to $36.00 and gave the company a buy rating in a research note on Thursday, April 11th. Finally, Wolfe Research set a $68.00 price objective on Delta Air Lines and gave the company a buy rating in a research note on Wednesday, July 3rd. Seven analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Delta Air Lines has a consensus rating of Buy and a consensus target price of $67.18.

Shares of DAL opened at $61.65 on Thursday. Delta Air Lines has a 12-month low of $45.08 and a 12-month high of $62.24. The company has a quick ratio of 0.29, a current ratio of 0.34 and a debt-to-equity ratio of 0.95. The company has a market capitalization of $40.38 billion, a price-to-earnings ratio of 9.62, a price-to-earnings-growth ratio of 0.49 and a beta of 1.18. The firm’s 50-day moving average price is $56.03.

Delta Air Lines (NYSE:DAL) last issued its quarterly earnings results on Thursday, July 11th. The transportation company reported $2.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.28 by $0.07. Delta Air Lines had a return on equity of 31.68% and a net margin of 9.85%. The firm had revenue of $12.54 billion for the quarter, compared to analyst estimates of $12.49 billion. During the same period in the previous year, the company posted $1.77 earnings per share. The company’s quarterly revenue was up 6.5% compared to the same quarter last year. On average, equities research analysts expect that Delta Air Lines will post 6.95 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Thursday, July 25th will be issued a $0.4025 dividend. This is an increase from Delta Air Lines’s previous quarterly dividend of $0.35. This represents a $1.61 annualized dividend and a dividend yield of 2.61%. Delta Air Lines’s payout ratio is presently 24.78%.

In other news, CEO Edward H. Bastian sold 30,000 shares of the business’s stock in a transaction that occurred on Monday, April 22nd. The stock was sold at an average price of $57.50, for a total value of $1,725,000.00. Following the transaction, the chief executive officer now directly owns 354,191 shares of the company’s stock, valued at approximately $20,365,982.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Steven M. Sear sold 8,993 shares of the business’s stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $53.27, for a total value of $479,057.11. Following the completion of the transaction, the insider now directly owns 76,150 shares in the company, valued at $4,056,510.50. The disclosure for this sale can be found here. Insiders sold a total of 65,003 shares of company stock worth $3,709,180 over the last three months. 0.47% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently made changes to their positions in DAL. Boston Partners lifted its holdings in Delta Air Lines by 24.1% during the 1st quarter. Boston Partners now owns 13,730,881 shares of the transportation company’s stock worth $709,200,000 after buying an additional 2,669,765 shares in the last quarter. FMR LLC lifted its holdings in Delta Air Lines by 30.9% during the 4th quarter. FMR LLC now owns 9,742,670 shares of the transportation company’s stock worth $486,161,000 after buying an additional 2,298,101 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Delta Air Lines by 0.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 7,801,924 shares of the transportation company’s stock worth $389,356,000 after buying an additional 50,255 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Delta Air Lines by 7.4% during the 4th quarter. Geode Capital Management LLC now owns 7,757,127 shares of the transportation company’s stock worth $386,658,000 after buying an additional 532,550 shares in the last quarter. Finally, Neuberger Berman Group LLC lifted its holdings in Delta Air Lines by 15.0% during the 1st quarter. Neuberger Berman Group LLC now owns 6,124,500 shares of the transportation company’s stock worth $316,331,000 after buying an additional 798,959 shares in the last quarter. 87.21% of the stock is currently 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 route network is centered on a system of hubs and markets at airports in Amsterdam, Atlanta, Boston, Detroit, London-Heathrow, Los Angeles, Mexico City, Minneapolis-St.

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Analyst Recommendations for Delta Air Lines (NYSE:DAL)

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