Delta Air Lines (NYSE:DAL) Shares Down 5.3% - Here's Why

Delta Air Lines, Inc. (NYSE:DAL - Get Free Report) shares traded down 5.3% during mid-day trading on Wednesday . The company traded as low as $48.85 and last traded at $48.94. 5,581,867 shares traded hands during mid-day trading, a decline of 42% from the average session volume of 9,624,260 shares. The stock had previously closed at $51.68.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. Barclays dropped their price objective on shares of Delta Air Lines from $80.00 to $58.00 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. Bank of America dropped their price objective on shares of Delta Air Lines from $65.00 to $56.00 and set a "buy" rating on the stock in a report on Thursday, April 3rd. Raymond James dropped their price objective on shares of Delta Air Lines from $80.00 to $62.00 and set a "strong-buy" rating on the stock in a report on Wednesday, April 2nd. Susquehanna decreased their target price on shares of Delta Air Lines from $80.00 to $50.00 and set a "positive" rating on the stock in a research note on Monday, April 7th. Finally, UBS Group set a $66.00 target price on shares of Delta Air Lines and gave the stock a "buy" rating in a research note on Monday, May 19th. Three investment analysts have rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Delta Air Lines currently has a consensus rating of "Moderate Buy" and a consensus price target of $62.08.

Delta Air Lines Stock Performance

The stock has a market cap of $32.11 billion, a P/E ratio of 9.23, a PEG ratio of 0.75 and a beta of 1.51. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.37 and a quick ratio of 0.32. The firm's 50-day moving average price is $45.49 and its 200-day moving average price is $54.69.

Delta Air Lines (NYSE:DAL - Get Free Report) last released its quarterly earnings data on Wednesday, April 9th. The transportation company reported $0.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.84 by ($0.38). The company had revenue of $12.98 billion for the quarter, compared to the consensus estimate of $13.85 billion. Delta Air Lines had a net margin of 5.61% and a return on equity of 30.41%. The company's quarterly revenue was down 5.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.45 EPS. Sell-side analysts expect that Delta Air Lines, Inc. will post 7.63 earnings per share for the current fiscal year.

Delta Air Lines Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 3rd. Investors of record on Tuesday, May 13th were issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.22%. The ex-dividend date was Tuesday, May 13th. Delta Air Lines's dividend payout ratio (DPR) is presently 10.64%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of DAL. Brighton Jones LLC grew its holdings in shares of Delta Air Lines by 33.5% in the fourth quarter. Brighton Jones LLC now owns 9,174 shares of the transportation company's stock valued at $555,000 after purchasing an additional 2,302 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in Delta Air Lines by 6.4% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 27,298 shares of the transportation company's stock worth $1,652,000 after buying an additional 1,653 shares during the period. Kingsview Wealth Management LLC boosted its stake in Delta Air Lines by 5.2% during the fourth quarter. Kingsview Wealth Management LLC now owns 27,559 shares of the transportation company's stock worth $1,667,000 after buying an additional 1,366 shares during the period. Wilmington Savings Fund Society FSB boosted its stake in Delta Air Lines by 2.8% during the fourth quarter. Wilmington Savings Fund Society FSB now owns 9,367 shares of the transportation company's stock worth $567,000 after buying an additional 256 shares during the period. Finally, Entropy Technologies LP purchased a new position in Delta Air Lines during the fourth quarter worth $1,353,000. 69.93% of the stock is owned by hedge funds and other 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 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.