Delta Air Lines, Inc. (DAL) Releases Quarterly Earnings Results, Beats Expectations By $0.04 EPS
Delta Air Lines, Inc. (NYSE:DAL) released its quarterly earnings data on Wednesday. The transportation company reported $1.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.53 by $0.04, Bloomberg Earnings reports. Delta Air Lines had a net margin of 9.30% and a return on equity of 28.33%. The business had revenue of $11.06 billion during the quarter, compared to analyst estimates of $11.03 billion. During the same quarter in the previous year, the business earned $1.70 EPS. Delta Air Lines’s quarterly revenue was up 5.5% compared to the same quarter last year.
Delta Air Lines (NYSE:DAL) opened at 52.70 on Wednesday. The firm has a market cap of $38.37 billion, a price-to-earnings ratio of 10.45 and a beta of 1.24. The stock’s 50 day moving average is $48.35 and its 200-day moving average is $49.40. Delta Air Lines has a 12 month low of $37.91 and a 12 month high of $55.75.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 13th. Stockholders of record on Wednesday, August 23rd were given a dividend of $0.305 per share. The ex-dividend date was Monday, August 21st. This represents a $1.22 dividend on an annualized basis and a dividend yield of 2.31%. This is a positive change from Delta Air Lines’s previous quarterly dividend of $0.20. Delta Air Lines’s dividend payout ratio is currently 24.25%.
In other news, Director George N. Mattson bought 6,000 shares of the company’s stock in a transaction dated Thursday, August 24th. The stock was bought at an average cost of $45.44 per share, for a total transaction of $272,640.00. Following the transaction, the director now owns 61,510 shares of the company’s stock, valued at $2,795,014.40. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Joanne D. Smith sold 3,700 shares of the business’s stock in a transaction that occurred on Wednesday, July 19th. The shares were sold at an average price of $54.00, for a total transaction of $199,800.00. Following the completion of the transaction, the executive vice president now owns 77,223 shares of the company’s stock, valued at $4,170,042. The disclosure for this sale can be found here. In the last quarter, insiders acquired 133,000 shares of company stock valued at $282,800 and sold 75,700 shares valued at $4,171,150. 0.37% of the stock is owned by insiders.
Several equities research analysts recently issued reports on DAL shares. Deutsche Bank AG reduced their price objective on shares of Delta Air Lines from $62.00 to $59.00 and set a “buy” rating for the company in a research note on Wednesday, September 6th. Zacks Investment Research raised shares of Delta Air Lines from a “hold” rating to a “strong-buy” rating and set a $62.00 price objective for the company in a research note on Tuesday, July 4th. BidaskClub lowered shares of Delta Air Lines from a “hold” rating to a “sell” rating in a research note on Friday, August 25th. Bank of America Corporation lifted their price objective on shares of Delta Air Lines from $64.00 to $71.00 and gave the company a “buy” rating in a research note on Friday, June 30th. Finally, ValuEngine raised shares of Delta Air Lines from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, June 20th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $61.91.
Delta Air Lines Company Profile
Delta Air Lines, Inc provides scheduled air transportation for passengers and cargo throughout the United States and across the world. The Company’s segments include Airline and Refinery. The Company’s route network is centered around a system of hub, international gateway and airports that the Company operates in Amsterdam, Atlanta, Boston, Detroit, London-Heathrow, Los Angeles, Minneapolis-St.
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