Delta Air Lines Stock Rating Reaffirmed by Zacks (DAL)
Delta Air Lines (NYSE:DAL)‘s stock had its “neutral” rating reaffirmed by Zacks in a research note issued to investors on Wednesday. They currently have a $38.00 target price on the stock. Zacks‘s price objective suggests a potential upside of 4.89% from the stock’s previous close.
Zacks’ analyst wrote, “We maintain our Neutral recommendation on Delta Air Lines. We expect Delta to perform impressively on various strategic measures such as solid domestic demand, route launches, introduction of ancillary products, revamping of fleet structure and strong customer service. Further, Delta continues to deliver solid results through its joint venture and expects trans-Atlantic revenue and capacity to increase owing to strength in the New York-London route. In addition, management’s balanced capital deployment plan is expected to enhance shareholder value going forward. However, several ongoing initiatives including a rise in wages and salaries of employees are expected to increase the non-fuel expenses of the company, thus affecting its bottom line. Further, the formation of American Airlines Group and the win of airport slots by Southwest Airlines and JetBlue Airways will increase competition for Delta. Hence, we prefer to remain sidelined on the carrier at present.”
A number of other firms have also recently commented on DAL. Analysts at CRT Capital raised their price target on shares of Delta Air Lines from $43.00 to $47.00 in a research note on Friday, July 25th. They now have a “buy” rating on the stock. Separately, analysts at Raymond James reiterated an “outperform” rating on shares of Delta Air Lines in a research note on Thursday, July 24th. They now have a $48.00 price target on the stock, up previously from $46.00. Finally, analysts at Imperial Capital raised their price target on shares of Delta Air Lines from $48.00 to $53.00 in a research note on Thursday, July 24th. They now have an “outperform” rating on the stock. Two analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $44.60.
In other Delta Air Lines news, EVP Richard B. Hirst sold 65,000 shares of the stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $37.13, for a total value of $2,413,450.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Shares of Delta Air Lines (NYSE:DAL) traded down 0.24% during mid-day trading on Wednesday, hitting $36.055. 8,248,528 shares of the company’s stock traded hands. Delta Air Lines has a 52-week low of $18.53 and a 52-week high of $42.66. The stock’s 50-day moving average is $38.12 and its 200-day moving average is $35.88. The company has a market cap of $30.322 billion and a P/E ratio of 2.85.
Delta Air Lines (NYSE:DAL) last announced its earnings results on Wednesday, July 23rd. The company reported $1.04 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.04. The company had revenue of $10.62 billion for the quarter, compared to the consensus estimate of $10.65 billion. During the same quarter in the previous year, the company posted $0.98 earnings per share. The company’s revenue for the quarter was up 9.4% on a year-over-year basis. On average, analysts predict that Delta Air Lines will post $3.23 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, August 29th. Investors of record on Friday, August 8th will be paid a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 0.99%. The ex-dividend date is Wednesday, August 6th. This is an increase from Delta Air Lines’s previous quarterly dividend of $0.06.
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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