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Stock Update: Delta Air Lines Inc (NYSE:DAL) – Delta Airlines and Burnham Sterling Close $450 Million in Private Placements, Reaching Over $1 Billion in Total Transactions

[PR Newswire] – GREENWICH, Conn., June 8, 2016 /PRNewswire/ — Burnham Sterling & Co. LLC (Burnham Sterling), a financial advisor specializing in asset financing, announced that it closed a $450 million private placement for the world’s second largest airline, Delta Air Lines (DAL). Burnham Sterling and affiliates have now financed 48 mainline aircraft and raised over $1 billion in private placement transactions directly for Delta Air Lines. “This is our third time working with Burnham Sterling, demonstrating our faith in their ability to execute complex private placements quickly and efficiently,” said Andy Nelson, Assistant Treasurer of Delta Air Lines. Read more on this. Delta Air Lines, Inc. (DAL) , with a current market cap of $32.42B, opened at $42.20. Looking at the stock, its one day range is $41.57 to $42.45 and has traded between $34.61 and $52.77 over the past year. DAL shares are currently priced at 6.33x this year’s forecasted earnings, which makes them relatively inexpensive compared to the industry’s 11.28x forward p/e ratio. The company pays shareholders $0.54 per share annually in dividends, yielding 1.31%. 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 $6.52 would be a $1.91 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 $10.64 Billion. If realized, that would be a 0.65% decrease over the year-ago quarter. Recently, Deutsche Bank downgraded DAL from Buy to Hold (Apr 1, 2016). Previously, Deutsche Bank upgraded DAL from Hold to Buy. The average price target for DAL shares by the analysts covering the stock is $61.86, which is 46.59% above where the stock opened this morning. See more in (NYSE:DAL) Similar Articles: Stock Update: Delta Air Lines Inc (NYSE:DAL) – Delta Air Lines Declares Quarterly Dividend Market Update: Delta Air Lines Inc (NYSE:DAL) – Delta Air Lines Declares Quarterly Dividend Company Update: Delta Air Lines Inc (NYSE:DAL) – Delta Air Lines Announces Webcast of December Quarter 2015 Financial Results
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