Delta Air Lines (NYSE:DAL) Price Target Increased to $59.00 by Analysts at Susquehanna

Delta Air Lines (NYSE:DAL) had its target price upped by Susquehanna from $50.00 to $59.00 in a research note released on Wednesday morning, Benzinga reports. Susquehanna currently has a positive rating on the transportation company’s stock.

Several other brokerages also recently commented on DAL. TD Cowen reduced their target price on Delta Air Lines from $61.00 to $59.00 and set a buy rating for the company in a research note on Wednesday, July 17th. Jefferies Financial Group upped their price objective on shares of Delta Air Lines from $56.00 to $60.00 and gave the company a buy rating in a report on Wednesday, October 2nd. BNP Paribas raised shares of Delta Air Lines to a strong-buy rating in a research report on Thursday, September 19th. Finally, Sanford C. Bernstein lifted their target price on shares of Delta Air Lines from $62.00 to $65.00 and gave the stock an outperform rating in a report on Tuesday, October 8th. One investment analyst has rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of Buy and a consensus target price of $65.40.

Delta Air Lines Trading Up 2.1 %

Shares of Delta Air Lines stock opened at $51.33 on Wednesday. Delta Air Lines has a 12-month low of $30.60 and a 12-month high of $53.86. The company has a quick ratio of 0.35, a current ratio of 0.40 and a debt-to-equity ratio of 1.21. The business’s 50 day moving average is $44.19 and its 200-day moving average is $46.90. The stock has a market cap of $33.13 billion, a P/E ratio of 7.39, a P/E/G ratio of 0.98 and a beta of 1.35.

Delta Air Lines (NYSE:DAL) last announced its quarterly earnings results on Thursday, October 10th. The transportation company reported $1.50 EPS for the quarter, missing analysts’ consensus estimates of $1.52 by ($0.02). The firm had revenue of $15.68 billion during the quarter, compared to analyst estimates of $14.65 billion. Delta Air Lines had a net margin of 7.46% and a return on equity of 36.02%. The business’s revenue was up 1.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.03 EPS. Equities research analysts predict that Delta Air Lines will post 6.17 earnings per share for the current fiscal year.

Delta Air Lines Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Thursday, October 10th will be paid a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 1.17%. The ex-dividend date of this dividend is Thursday, October 10th. Delta Air Lines’s dividend payout ratio (DPR) is currently 8.63%.

Hedge Funds Weigh In On Delta Air Lines

A number of hedge funds have recently added to or reduced their stakes in the stock. Future Financial Wealth Managment LLC bought a new position in Delta Air Lines in the 3rd quarter valued at about $25,000. Kimelman & Baird LLC acquired a new position in Delta Air Lines during the second quarter valued at approximately $31,000. Rise Advisors LLC lifted its stake in Delta Air Lines by 122.5% during the first quarter. Rise Advisors LLC now owns 821 shares of the transportation company’s stock worth $39,000 after purchasing an additional 452 shares during the last quarter. Unique Wealth Strategies LLC bought a new position in shares of Delta Air Lines in the 2nd quarter valued at $40,000. Finally, Quarry LP acquired a new position in shares of Delta Air Lines during the 2nd quarter worth $41,000. Institutional investors own 69.93% of the company’s stock.

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 domestic network centered on core hubs in Atlanta, Minneapolis-St. Paul, Detroit, and Salt Lake City, as well as coastal hub positions in Boston, Los Angeles, New York-LaGuardia, New York-JFK, and Seattle; and international network centered on hubs and market presence in Amsterdam, Bogota, Lima, Mexico City, London-Heathrow, Paris-Charles de Gaulle, Sao Paulo, Seoul-Incheon, and Tokyo.