Insider Selling: Craig M. Meynard Unloads 6,300 Shares of Delta Air Lines Stock (DAL)
Delta Air Lines (NYSE:DAL) VP Craig M. Meynard unloaded 6,300 shares of Delta Air Lines stock in a transaction that occurred on Wednesday, August 27th. The stock was sold at an average price of $40.01, for a total value of $252,063.00. Following the completion of the sale, the vice president now directly owns 22,098 shares in the company, valued at approximately $884,141. The transaction was disclosed in a legal filing with the SEC, which is available at this link.
A number of analysts have recently weighed in on DAL shares. Analysts at Zacks reiterated a “neutral” rating on shares of Delta Air Lines in a research note on Wednesday, August 6th. They now have a $38.00 price target on the stock. Separately, 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. Finally, 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. Two research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. Delta Air Lines has a consensus rating of “Buy” and a consensus target price of $44.60.
Delta Air Lines (NYSE:DAL) traded down 0.67% during mid-day trading on Thursday, hitting $39.89. 5,724,411 shares of the company’s stock traded hands. Delta Air Lines has a 1-year low of $19.57 and a 1-year high of $42.66. The stock’s 50-day moving average is $38.04 and its 200-day moving average is $36.70. The company has a market cap of $33.547 billion and a price-to-earnings ratio of 3.16. Delta Air Lines also saw a significant increase in short interest in August. As of August 15th, there was short interest totalling 17,936,033 shares, an increase of 21.7% from the July 31st total of 14,739,421 shares. Approximately 2.1% of the shares of the stock are short sold. Based on an average daily volume of 10,866,364 shares, the days-to-cover ratio is presently 1.7 days.
Delta Air Lines (NYSE:DAL) last issued its quarterly earnings data on Wednesday, July 23rd. The company reported $1.04 earnings per share for the quarter, meeting the analysts’ 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 last year, the company posted $0.98 earnings per share. Delta Air Lines’s revenue was up 9.4% compared to the same quarter last year. On average, analysts predict that Delta Air Lines will post $3.24 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, August 29th. Stockholders of record on Friday, August 8th will be given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 0.90%. The ex-dividend date of this dividend is Wednesday, August 6th. This is a boost 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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