Delta Air Lines (NYSE:DAL) Price Target Raised to $63.00 at Imperial Capital

Delta Air Lines (NYSE:DAL) had its price objective lifted by Imperial Capital from $61.00 to $63.00 in a research note issued to investors on Wednesday morning, Briefing.com Automated Import reports. They currently have an in-line rating on the transportation company’s stock. Imperial Capital also issued estimates for Delta Air Lines’ Q3 2019 earnings at $2.20 EPS, Q1 2020 earnings at $1.04 EPS, Q2 2020 earnings at $2.39 EPS, Q3 2020 earnings at $2.36 EPS and Q4 2020 earnings at $1.62 EPS.

Other research analysts have also issued research reports about the company. Stephens restated an overweight rating and set a $70.00 target price on shares of Delta Air Lines in a research report on Wednesday, July 3rd. Morgan Stanley lifted their price target on shares of United Technologies from $155.00 to $164.00 and gave the company an overweight rating in a research note on Monday, May 20th. Wolfe Research set a $68.00 price target on shares of Delta Air Lines and gave the company a buy rating in a research note on Wednesday, July 3rd. Credit Suisse Group lifted their price target on shares of Delta Air Lines from $37.00 to $68.00 and gave the company an outperform rating in a research note on Thursday, April 11th. Finally, Bank of America set a $152.00 price target on shares of Caterpillar and gave the company a buy rating in a research note on Thursday, April 4th. Seven research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Delta Air Lines currently has an average rating of Buy and a consensus price target of $65.98.

Shares of NYSE:DAL traded up $0.69 during trading hours on Wednesday, hitting $60.16. 12,495,610 shares of the company’s stock traded hands, compared to its average volume of 6,730,696. Delta Air Lines has a 1 year low of $45.08 and a 1 year high of $61.32. The firm has a fifty day simple moving average of $55.87. The firm has a market cap of $39.04 billion, a price-to-earnings ratio of 10.65, a P/E/G ratio of 0.62 and a beta of 1.18. The company has a quick ratio of 0.29, a current ratio of 0.34 and a debt-to-equity ratio of 1.05.

Delta Air Lines (NYSE:DAL) last announced its earnings results on Thursday, July 11th. The transportation company reported $2.35 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.30 by $0.05. Delta Air Lines had a return on equity of 30.10% and a net margin of 9.09%. The business had revenue of $12.54 billion during the quarter, compared to analyst estimates of $12.49 billion. During the same quarter in the previous year, the business earned $1.77 earnings per share. The company’s revenue for the quarter was up 6.5% compared to the same quarter last year. On average, analysts predict that Delta Air Lines will post 6.8 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Thursday, July 25th will be paid a dividend of $0.4025 per share. This represents a $1.61 annualized dividend and a dividend yield of 2.68%. This is an increase from Delta Air Lines’s previous quarterly dividend of $0.35. Delta Air Lines’s payout ratio is currently 24.78%.

In related news, CEO Edward H. Bastian sold 30,000 shares of the business’s stock in a transaction that occurred on Monday, April 22nd. The shares were sold at an average price of $57.50, for a total value of $1,725,000.00. Following the completion of the transaction, the chief executive officer now owns 354,191 shares of the company’s stock, valued at $20,365,982.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Peter W. Carter sold 25,000 shares of the business’s stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $58.01, for a total transaction of $1,450,250.00. Following the completion of the transaction, the executive vice president now directly owns 85,295 shares of the company’s stock, valued at approximately $4,947,962.95. The disclosure for this sale can be found here. Insiders sold 65,003 shares of company stock valued at $3,709,180 in the last three months. 0.47% of the stock is currently owned by insiders.

Large investors have recently modified their holdings of the stock. Comerica Securities Inc. bought a new stake in Delta Air Lines in the 4th quarter valued at approximately $200,000. Bessemer Group Inc. lifted its stake in Delta Air Lines by 9.5% in the 4th quarter. Bessemer Group Inc. now owns 6,658 shares of the transportation company’s stock valued at $332,000 after acquiring an additional 579 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its stake in Delta Air Lines by 8.3% in the 4th quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 58,577 shares of the transportation company’s stock valued at $2,923,000 after acquiring an additional 4,506 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in 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 valued at $389,356,000 after acquiring an additional 50,255 shares in the last quarter. Finally, Natixis Advisors L.P. lifted its stake in Delta Air Lines by 9.0% in the 4th quarter. Natixis Advisors L.P. now owns 121,514 shares of the transportation company’s stock valued at $6,063,000 after acquiring an additional 9,995 shares in the last quarter. 87.21% of the stock is owned by institutional investors.

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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