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Company Update (NYSE:DAL): Delta Files to Serve Havana, Cuba from Four U.S. Cities

[PR Newswire] – ATLANTA, March 2, 2016 /PRNewswire/ — Delta Air Lines (DAL) filed an application with the U.S. government to provide non-stop service to Cuba from four key cities in the United States. Delta seeks approval to serve Havana with daily flights from its hubs in Atlanta and New York’s JFK International Airport as well as from Miami and Orlando. “This is a historic moment for Delta as we seek to provide unparalleled access between the U.S. and Cuba,” said Bob Cortelyou, Senior Vice President—Network & Schedule Planning. Read more on this. Delta Air Lines, Inc. (DAL) , with a current market cap of $38.19B, opened this morning at $48.12. During the trading session, DAL traded between $47.61 to $48.58 with a trailing 52-week range being $34.61 to $52.77. Priced at 6.98x this year’s forecasted earnings, DAL shares are relatively expensive compared to the industry’s 6.97x forward p/e ratio. And for passive income investors, the company pays shareholders $0.54 per share annually in dividends, yielding 1.13%. According to a consensus of 13 analysts, the earnings estimate of $1.33 per share would be $0.88 better than the year-ago quarter and a $0.23 sequential increase. The full-year EPS estimate is $6.91, which would be a $2.30 better than last year. The quarterly earnings estimate is predicated on a consensus revenue forecast of $9.25 Billion. If reported, that would be a 1.49% decrease over the year-ago quarter. More recently, Deutsche Bank upgraded DAL from Hold to Buy (Sep 1, 2015). Previously, Wolfe Research upgraded DAL from Peer Perform to Outperform. Investors should keep in mind is that the average price target is $65.46, which is 36.03% above where the stock opened this morning. See more in (NYSE:DAL) Similar Articles: Company Update: Delta Air Lines Inc (NYSE:DAL) – Delta Air Lines Announces Webcast of December Quarter 2015 Financial Results Company Update: Delta Air Lines Inc (NYSE:DAL) – Delta Air Lines Declares Quarterly Dividend Company Update: Delta Air Lines Inc (NYSE:DAL) – Delta Air Lines Employees to Build Seven Habitat for Humanity Homes in Six Cities
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