JPMorgan Chase & Co. Reiterates Overweight Rating for Delta Air Lines (DAL)
Delta Air Lines (NYSE:DAL)‘s stock had its “overweight” rating reaffirmed by equities research analysts at JPMorgan Chase & Co. in a research note issued to investors on Friday, Stock Ratings Network.com reports. They currently have a $48.00 price target on the stock, up from their previous price target of $47.00. JPMorgan Chase & Co.’s price objective indicates a potential upside of 27.42% from the stock’s previous close.
In other Delta Air Lines news, CEO Richard H. Anderson sold 100,000 shares of the company’s stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $38.41, for a total transaction of $3,841,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Shares of Delta Air Lines (NYSE:DAL) traded down 0.08% on Friday, hitting $37.67. 9,850,259 shares of the company’s stock traded hands. Delta Air Lines has a 1-year low of $16.94 and a 1-year high of $38.82. The stock has a 50-day moving average of $34.98 and a 200-day moving average of $31.10. The company has a market cap of $31.793 billion and a price-to-earnings ratio of 3.01.
Delta Air Lines (NYSE:DAL) last posted its quarterly earnings results on Wednesday, April 23rd. The company reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.04. The company had revenue of $8.92 billion for the quarter, compared to the consensus estimate of $8.92 billion. During the same quarter in the previous year, the company posted $0.10 earnings per share. The company’s revenue for the quarter was up 4.9% on a year-over-year basis. Analysts expect that Delta Air Lines will post $2.97 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, May 30th. Stockholders of record on Friday, May 9th will be given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 0.64%. The ex-dividend date of this dividend is Wednesday, May 7th.
A number of other analysts have also recently weighed in on DAL. Analysts at Zacks reiterated a “neutral” rating on shares of Delta Air Lines in a research note on Monday. They now have a $39.00 price target on the stock. Separately, analysts at Deutsche Bank reiterated a “buy” rating on shares of Delta Air Lines in a research note on Thursday, April 24th. They now have a $40.00 price target on the stock. Finally, analysts at Imperial Capital raised their price target on shares of Delta Air Lines from $42.00 to $48.00 in a research note on Thursday, April 24th. They now have an “outperform” rating on the stock. Two research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $39.64.
Delta Air Lines, Inc (NYSE:DAL) provides scheduled air transportation for passengers and cargo throughout the United States and around the world.
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