Market Update (NYSE:DAL): Shares of Brazil’s Gol seesaw on talk of Delta capital injection

[Reuters] – Shares of Brazil’s airline Gol Linhas Aereas Inteligentes SA seesawed on Friday after the company denied a media report saying Delta Airlines would inject capital in the embattled company through a share offering. Veja Mercados, a blog ran by weekly magazine Veja, said Delta would buy new Gol shares with a premium of more than 30 percent from the current share price of 3.52 reais. Delta already owns a minority stake in Gol. Read more on this. Delta Air Lines, Inc. (DAL) , valued at $37.64B, started trading this morning at $47.41. Today’s price range has been between $47.28 and $48.07 per share with a trailing 52-week range being $34.61 to $52.77. DAL shares are currently priced at 6.89x this year’s forecasted earnings, which makes them relatively inexpensive compared to the industry’s 7.54x earnings multiple for the same period. And for income investors, the company pays shareholders $0.54 per share annually in dividends, yielding 1.12%. Consensus earnings for the current quarter by the 13 sell-side analysts covering the stock is an estimate of $1.30 per share, which would be $0.85 better than the year-ago quarter and a $0.19 sequential increase. The full-year EPS estimate is $6.82, which would be a $2.21 better than last year. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $9.25 Billion. If realized, that would be a 1.49% decrease over the year-ago quarter. Recently, Deutsche Bank upgraded DAL from Hold to Buy (Sep 1, 2015). Previously, Wolfe Research upgraded DAL from Peer Perform to Outperform. The average price target for DAL shares by the analysts covering it is $65.38, which is 37.90% above where the stock opened. See more in (NYSE:DAL) Similar Articles: Market Update: Delta Air Lines Inc (NYSE:DAL) – Delta Air Lines Declares Quarterly Dividend Market Update (NYSE:DAL): Delta, The Delta Air Lines Foundation Invest $5 Million in Georgia Tech Market Update: Delta Air Lines Inc (NYSE:DAL) – Delta Honors its Veterans in Conversation with Three Generations
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