Stock Update (NYSE:DAL): Delta Increases Commitment to Gogo’s Next-Generation In-flight Wi-Fi Technology

[PR Newswire] – ATLANTA, May 4, 2016 /PRNewswire/ — Delta Air Lines (DAL) will continue fueling customers with the fastest connectivity experience in the sky by increasing its commitment to 2Ku, Gogo’s industry-leading in-flight Wi-Fi technology, by at least 350 aircraft. This brings Delta’s total 2Ku commitment to more than 600 aircraft in its mainline fleet. 2Ku is next-generation technology that provides consistent, uninterrupted coverage nearly anywhere in the world, including over oceans. Read more on this. Delta Air Lines, Inc. (DAL) , valued at $31.86B, started trading this morning at $42.37. A quick look at the market, the company’s stock traded between $41.17 and $42.56 and has traded between $34.61 and $52.77 over the past year. DAL shares are currently priced at 6.54x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s -15.43x forward p/e ratio. And for income investors, the company pays shareholders $0.54 per share annually in dividends, yielding 1.30%. Consensus earnings for the current quarter by the 14 sell-side analysts covering the stock is an estimate of $1.85 per share, which would be $0.58 better than the year-ago quarter and a $0.07 sequential decrease. In looking at the bigger picture, the full-year EPS estimate of $6.56 would be a $1.95 better when compared to the previous year’s annual results. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $10.63 Billion. If realized, that would be a 0.75% decrease over the year-ago quarter. More recently, Deutsche Bank downgraded DAL from Buy to Hold (Apr 1, 2016). Previously, Deutsche Bank upgraded DAL from Hold to Buy. Given all the information above, we should disclose to readers that the average price target is $62.57, which is 47.68% above than it opened this morning. See more in (NYSE:DAL) Similar Articles: Stock Update: Delta Air Lines Inc (NYSE:DAL) – Delta Air Lines Declares Quarterly Dividend Stock Update: Delta Air Lines Inc (NYSE:DAL) – Delta customers among fatalities in Brussels Stock Update: Delta Air Lines Inc (NYSE:DAL) – Delta Employees Take Home their Piece of Largest Profit Sharing Payout in U.S. History
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