Delta Air Lines (NYSE:DAL) Hits New 1-Year High – What’s Next?

Shares of Delta Air Lines, Inc. (NYSE:DAL) hit a new 52-week high on Tuesday . The company traded as high as $54.14 and last traded at $54.14, with a volume of 220939 shares changing hands. The stock had previously closed at $53.18.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on DAL shares. Barclays increased their price objective on shares of Delta Air Lines from $52.00 to $60.00 and gave the stock an “overweight” rating in a research report on Friday. BNP Paribas upgraded Delta Air Lines to a “strong-buy” rating in a research note on Thursday, September 19th. TD Cowen lowered 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 target on Delta Air Lines from $56.00 to $60.00 and gave the stock a “buy” rating in a report on Wednesday, October 2nd. Finally, JPMorgan Chase & Co. boosted their target price on shares of Delta Air Lines from $68.00 to $80.00 and gave the stock an “overweight” rating in a research report on Friday. One research analyst has rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Delta Air Lines currently has a consensus rating of “Buy” and a consensus price target of $65.40.

Delta Air Lines Price Performance

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 has a 50 day simple moving average of $44.50 and a 200-day simple moving average of $46.93. The company has a market capitalization of $34.85 billion, a P/E ratio of 7.65, a PEG ratio of 0.98 and a beta of 1.35.

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

Delta Air Lines Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Thursday, October 10th will be issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 1.11%. The ex-dividend date of this dividend is Thursday, October 10th. Delta Air Lines’s payout ratio is currently 8.63%.

Hedge Funds Weigh In On Delta Air Lines

A number of institutional investors have recently bought and sold shares of DAL. Future Financial Wealth Managment LLC acquired a new stake in shares of Delta Air Lines in the third quarter worth $25,000. Kimelman & Baird LLC acquired a new stake in Delta Air Lines during the 2nd quarter worth about $31,000. Strategic Financial Concepts LLC purchased a new position in Delta Air Lines during the 2nd quarter valued at about $36,000. Rise Advisors LLC increased its holdings in shares of Delta Air Lines by 122.5% in the 1st quarter. Rise Advisors LLC now owns 821 shares of the transportation company’s stock valued at $39,000 after purchasing an additional 452 shares during the period. Finally, Unique Wealth Strategies LLC purchased a new stake in shares of Delta Air Lines in the second quarter worth approximately $40,000. Hedge funds and other 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.