Company Update (NYSE:DAL): Bombardier gains traction with big Delta order for CSeries jets

[Reuters] – MONTREAL/ATLANTA, April 28 (Reuters) – Bombardier Inc won a multibillion dollar order for its new CSeries passenger jets from Delta Air Lines on Thursday, potentially boosting the Canadian manufacturer’s stature in global markets as it struggles to return to profitability. Bombardier shares opened 13.4 percent higher on the Toronto Stock Exchange. “We are entering service with a strong tail wind,” Bombardier Chief Executive Alain Bellemare told analysts in a conference call after the company announced the deal. Read more on this. Delta Air Lines, Inc. (DAL) , currently valued at $33.27B, began trading this morning at $43.44. Looking at the equity, the company’s one day range is $43.14 to $43.79 with its 52-week range being $34.61 to $52.77. DAL shares are currently priced at 6.64x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s -17.40x forward p/e ratio. And for those looking to make a return holding the stock, the company pays shareholders $0.54 per share annually in dividends, yielding 1.21%. According to a consensus of 14 analysts, the earnings estimate of $1.87 per share would be $0.60 better than the year-ago quarter and a $0.06 sequential decrease. Investors should also note that the full-year EPS estimate of $6.62 is a $2.01 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 $10.62 Billion. If realized, that would be a 0.84% decrease over the year-ago quarter. In terms of ratings, 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 it is $63.21, which is 45.51% above where the stock opened. See more in (NYSE:DAL) Similar Articles: Stock Update: Delta Air Lines Inc (NYSE:DAL) – Delta customers among fatalities in Brussels Bombardier Stock: This Could Be a Big Deal for Bombardier, Inc. Company Update: Delta Air Lines Inc (NYSE:DAL) – Delta Air Lines Announces Webcast of December Quarter 2015 Financial Results
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