Delta Air Lines (DAL) Shares Gap Up to $53.63

Delta Air Lines, Inc. (NYSE:DAL)’s share price gapped up prior to trading on Thursday . The stock had previously closed at $52.38, but opened at $53.63. Delta Air Lines shares last traded at $55.25, with a volume of 13565336 shares.

DAL has been the subject of a number of recent research reports. BidaskClub upgraded shares of Delta Air Lines from a “sell” rating to a “hold” rating in a report on Wednesday, August 16th. Morgan Stanley reduced their target price on shares of Delta Air Lines from $62.00 to $59.00 and set an “overweight” rating for the company in a report on Thursday, August 17th. Wolfe Research upgraded shares of Delta Air Lines from a “market perform” rating to an “outperform” rating in a report on Friday, August 18th. They noted that the move was a valuation call. Zacks Investment Research downgraded shares of Delta Air Lines from a “strong-buy” rating to a “hold” rating in a report on Monday, August 21st. Finally, Cowen reiterated a “buy” rating and issued a $60.00 target price on shares of Delta Air Lines in a report on Tuesday, September 5th. Two analysts have rated the stock with a sell rating, one has given a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $63.39.

The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.36 and a current ratio of 0.43. The firm has a market cap of $38,226.05, a price-to-earnings ratio of 11.17, a PEG ratio of 1.63 and a beta of 1.29.

Delta Air Lines (NYSE:DAL) last posted its quarterly earnings data on Wednesday, October 11th. The transportation company reported $1.57 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.53 by $0.04. Delta Air Lines had a net margin of 8.97% and a return on equity of 26.50%. The firm had revenue of $11.06 billion for the quarter, compared to the consensus estimate of $11.03 billion. During the same quarter in the prior year, the company posted $1.70 earnings per share. The company’s revenue for the quarter was up 5.5% compared to the same quarter last year. sell-side analysts forecast that Delta Air Lines, Inc. will post 5 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 8th. Stockholders of record on Friday, November 17th were issued a dividend of $0.305 per share. The ex-dividend date was Thursday, November 16th. This represents a $1.22 annualized dividend and a dividend yield of 2.21%. Delta Air Lines’s dividend payout ratio (DPR) is currently 24.50%.

In other news, insider Steven M. Sear sold 6,898 shares of the company’s stock in a transaction dated Thursday, October 12th. The shares were sold at an average price of $53.01, for a total transaction of $365,662.98. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Edward H. Bastian sold 159,240 shares of the company’s stock in a transaction dated Thursday, October 12th. The shares were sold at an average price of $53.06, for a total transaction of $8,449,274.40. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 239,810 shares of company stock worth $12,684,903. Corporate insiders own 0.37% of the company’s stock.

A number of large investors have recently modified their holdings of DAL. Mountain Capital Investment Advisors Inc acquired a new position in Delta Air Lines in the 2nd quarter worth approximately $114,000. BB&T Investment Services Inc. acquired a new position in Delta Air Lines in the 2nd quarter worth approximately $128,000. Bessemer Group Inc. increased its holdings in Delta Air Lines by 104.3% in the 2nd quarter. Bessemer Group Inc. now owns 2,543 shares of the transportation company’s stock worth $137,000 after buying an additional 1,298 shares during the period. Advisory Services Network LLC increased its holdings in Delta Air Lines by 3.0% in the 2nd quarter. Advisory Services Network LLC now owns 2,546 shares of the transportation company’s stock worth $137,000 after buying an additional 75 shares during the period. Finally, IHT Wealth Management LLC increased its holdings in Delta Air Lines by 40.9% in the 2nd quarter. IHT Wealth Management LLC now owns 758 shares of the transportation company’s stock worth $146,000 after buying an additional 220 shares during the period. Institutional investors own 85.24% of the company’s stock.

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About Delta Air Lines

Delta Air Lines, Inc provides scheduled air transportation for passengers and cargo throughout the United States and across the world. The Company’s segments include Airline and Refinery. The Company’s route network is centered around a system of hub, international gateway and airports that the Company operates in Amsterdam, Atlanta, Boston, Detroit, London-Heathrow, Los Angeles, Minneapolis-St.

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