Delta Air Lines (NYSE:DAL) Releases Quarterly Earnings Results

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Delta Air Lines (NYSE:DAL) posted its quarterly earnings results on Thursday. The transportation company reported $2.35 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.28 by $0.07, RTT News reports. The company had revenue of $12.54 billion for the quarter, compared to analysts’ expectations of $12.49 billion. Delta Air Lines had a return on equity of 31.68% and a net margin of 9.85%. The firm’s revenue was up 6.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.77 earnings per share.

NYSE DAL opened at $61.65 on Friday. Delta Air Lines has a twelve month low of $45.08 and a twelve month high of $62.24. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.29 and a current ratio of 0.34. The stock has a market cap of $40.38 billion, a PE ratio of 10.91, a price-to-earnings-growth ratio of 0.49 and a beta of 1.18. The business’s 50 day moving average price is $56.03.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Thursday, July 25th will be given a dividend of $0.4025 per share. This represents a $1.61 annualized dividend and a yield of 2.61%. This is a boost from Delta Air Lines’s previous quarterly dividend of $0.35. Delta Air Lines’s payout ratio is presently 24.78%.

In other Delta Air Lines news, CEO Edward H. Bastian sold 30,000 shares of Delta Air Lines stock in a transaction that occurred on Monday, April 22nd. The shares were sold at an average price of $57.50, for a total transaction of $1,725,000.00. Following the transaction, the chief executive officer now directly owns 354,191 shares in the company, valued at approximately $20,365,982.50. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Steven M. Sear sold 8,993 shares of Delta Air Lines stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $53.27, for a total transaction of $479,057.11. Following the transaction, the insider now owns 76,150 shares in the company, valued at $4,056,510.50. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 65,003 shares of company stock worth $3,709,180. Corporate insiders own 0.47% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of DAL. Washington Trust Bank grew its position in Delta Air Lines by 141.3% during the 1st quarter. Washington Trust Bank now owns 485 shares of the transportation company’s stock worth $25,000 after purchasing an additional 284 shares in the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new position in Delta Air Lines during the 1st quarter worth approximately $26,000. Northwest Wealth Management LLC purchased a new position in Delta Air Lines during the 1st quarter worth approximately $26,000. Paragon Capital Management LLC purchased a new position in shares of Delta Air Lines during the 1st quarter valued at $26,000. Finally, Kistler Tiffany Companies LLC purchased a new position in shares of Delta Air Lines during the 1st quarter valued at $26,000. Hedge funds and other institutional investors own 87.21% of the company’s stock.

Several research analysts have issued reports on DAL shares. Bank of America set a $152.00 price target on Caterpillar and gave the company a “buy” rating in a report on Thursday, April 4th. Cowen reaffirmed an “outperform” rating and issued a $69.00 price target (up previously from $67.00) on shares of Delta Air Lines in a report on Thursday. Wolfe Research set a $68.00 price target on Delta Air Lines and gave the company a “buy” rating in a report on Wednesday, July 3rd. Imperial Capital dropped their price target on Montage Resources from $9.00 to $6.00 and set an “inline” rating on the stock in a report on Wednesday. Finally, Raymond James reaffirmed a “hold” rating and issued a $19.50 price target on shares of in a report on Friday. Seven investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $67.18.

Delta Air Lines Company Profile

Delta Air Lines, Inc provides scheduled air transportation for passengers and cargo in the United States and internationally. The company operates through two segments, Airline and Refinery. Its route network is centered on a system of hubs and markets at airports in Amsterdam, Atlanta, Boston, Detroit, London-Heathrow, Los Angeles, Mexico City, Minneapolis-St.

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Earnings History for Delta Air Lines (NYSE:DAL)

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