Delta Airlines Inc. Stock Valuation Using Multiples:

$-$From the selected company's main page, select the Company details tab and then choose Earnings estimates $($pictured Below$)$

On the left$-$hand side of the screen, note the number of analysts and the number of Buy, Hold, and Sell Recommendations in the Broker Summary.

$-$In the Ratios and Statistics section, retrieve the Forward P$/$E as an input for your Stock Valuation Using Multiples.

$-$Record the Average Target Price and the direction it has taken during the last four weeks $($raised or lowered, indicated by orange$/$green arrows$).$

$-$In the Consensus Summary the company's annual Earning Per Share appear, both Actual $($A$)$ and as Estimated by analysts $($E$).$ Historical results $($A$)$ by year should be evaluated versus full year

estimates for future periods $($E$).$ This data appears in the Consensus Estimates Summary by period.

$-$Calculate an estimated value of a share of the stock using multiples as determined by Eq$.8-8$ in the e$-$book. Use the Forward P$/$E as the Benchmark PE in the model. Calculate the estimated

value for each year that a Consensus Estimate of Earnings per Share appears in Mergent.

For example, suppose the Forward P$/$E is $27$ and there are Consensus Estimates of $$2\mathrm{.}06$ in $2021E$ and $$2\mathrm{.}25$ in $2022E.$ According to the model, P$1$ would be $$55\mathrm{.}62$ and $P2$ would be equal to

$$60\mathrm{.}75.$ As described in the text, forecasted prices such as these are called Target Prices.