ValuEngine Downgrades Delta Air Lines (NYSE:DAL) to Hold

ValuEngine lowered shares of Delta Air Lines (NYSE:DAL) from a buy rating to a hold rating in a report issued on Thursday morning, ValuEngine reports.

DAL has been the topic of a number of other research reports. Citigroup upped their price target on Delta Air Lines from $68.00 to $70.00 and gave the company a buy rating in a research report on Thursday, April 11th. Deutsche Bank boosted their price objective on Delta Air Lines from $56.00 to $61.00 and gave the company a hold rating in a research note on Friday, July 12th. Imperial Capital boosted their price objective on Delta Air Lines from $61.00 to $63.00 and gave the company an in-line rating in a research note on Wednesday, July 10th. Zacks Investment Research reiterated a sell rating on shares of Delta Air Lines in a research note on Tuesday, July 23rd. Finally, Wolfe Research set a $69.00 price objective on Delta Air Lines and gave the company a buy rating in a research note on Friday, July 12th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and ten have given a buy rating to the company. The company currently has an average rating of Buy and a consensus price target of $67.56.

Shares of NYSE DAL traded down $0.19 during trading on Thursday, reaching $60.13. 3,731,897 shares of the stock traded hands, compared to its average volume of 6,525,024. Delta Air Lines has a 52-week low of $45.08 and a 52-week high of $63.44. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.34 and a quick ratio of 0.29. The firm has a 50-day moving average of $59.32. The stock has a market cap of $39.69 billion, a PE ratio of 10.64, a P/E/G ratio of 0.48 and a beta of 1.18.

Delta Air Lines (NYSE:DAL) last issued its quarterly earnings results on Thursday, July 11th. The transportation company reported $2.35 EPS for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $12.49 billion. During the same quarter in the prior year, the firm earned $1.77 EPS. The business’s revenue for the quarter was up 6.5% compared to the same quarter last year. Equities analysts anticipate that Delta Air Lines will post 7.06 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Thursday, July 25th will be paid a dividend of $0.4025 per share. This represents a $1.61 dividend on an annualized basis and a dividend yield of 2.68%. This is a positive change from Delta Air Lines’s previous quarterly dividend of $0.35. The ex-dividend date is Wednesday, July 24th. Delta Air Lines’s payout ratio is presently 28.50%.

In other Delta Air Lines news, insider Steven M. Sear sold 8,993 shares of the company’s stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $53.27, for a total value of $479,057.11. Following the transaction, the insider now directly owns 76,150 shares in the company, valued at approximately $4,056,510.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP William C. Carroll sold 6,384 shares of the company’s stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $61.96, for a total value of $395,552.64. Following the completion of the transaction, the senior vice president now owns 23,010 shares in the company, valued at $1,425,699.60. The disclosure for this sale can be found here. Insiders sold a total of 93,288 shares of company stock worth $5,753,311 over the last 90 days. Corporate insiders own 0.47% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Boston Partners increased its stake in Delta Air Lines by 24.1% in the 1st quarter. Boston Partners now owns 13,730,881 shares of the transportation company’s stock worth $709,200,000 after acquiring an additional 2,669,765 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Delta Air Lines by 0.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 7,801,924 shares of the transportation company’s stock worth $389,356,000 after purchasing an additional 50,255 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Delta Air Lines by 7.4% in the 4th quarter. Geode Capital Management LLC now owns 7,757,127 shares of the transportation company’s stock worth $386,658,000 after purchasing an additional 532,550 shares in the last quarter. Neuberger Berman Group LLC boosted its holdings in shares of Delta Air Lines by 15.0% in the 1st quarter. Neuberger Berman Group LLC now owns 6,124,500 shares of the transportation company’s stock worth $316,331,000 after purchasing an additional 798,959 shares in the last quarter. Finally, Janus Henderson Group PLC boosted its holdings in shares of Delta Air Lines by 27.5% in the 2nd quarter. Janus Henderson Group PLC now owns 3,946,432 shares of the transportation company’s stock worth $223,961,000 after purchasing an additional 850,291 shares in the last quarter. Institutional investors and hedge funds own 87.74% of the company’s stock.

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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