Delta Air Lines (NYSE:DAL) updated its third quarter earnings guidance on Thursday. The company provided earnings per share guidance of $2.10-2.40 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $2.16. Delta Air Lines also updated its FY 2019 guidance to $6.75-7.25 EPS.
Several research firms have commented on DAL. Raymond James raised their target price on shares of Delta Air Lines from $60.00 to $68.00 and gave the company an outperform rating in a research note on Thursday, April 11th. Wolfe Research set a $68.00 target price on shares of Delta Air Lines and gave the company a buy rating in a research note on Wednesday, July 3rd. Credit Suisse Group raised their target price on shares of Delta Air Lines from $37.00 to $68.00 and gave the company an outperform rating in a research note on Thursday, April 11th. Morgan Stanley lifted their price objective on shares of United Technologies from $155.00 to $164.00 and gave the stock an overweight rating in a research note on Monday, May 20th. Finally, Stephens reaffirmed an overweight rating and issued a $70.00 price objective on shares of Delta Air Lines in a research note on Wednesday, July 3rd. Seven research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. The company currently has a consensus rating of Buy and a consensus target price of $65.98.
Shares of DAL traded up $0.69 during midday trading on Thursday, hitting $60.16. The stock had a trading volume of 12,495,610 shares, compared to its average volume of 6,730,696. Delta Air Lines has a fifty-two week low of $45.08 and a fifty-two week high of $61.32. The stock’s 50-day moving average price is $55.87. The company has a market capitalization of $39.04 billion, a price-to-earnings ratio of 10.65, a P/E/G ratio of 0.62 and a beta of 1.18. The company has a current ratio of 0.34, a quick ratio of 0.29 and a debt-to-equity ratio of 1.05.
Delta Air Lines (NYSE:DAL) last announced its earnings results on Thursday, July 11th. The transportation company reported $2.35 EPS for the quarter, topping the consensus estimate of $2.30 by $0.05. Delta Air Lines had a net margin of 9.09% and a return on equity of 30.10%. The company had revenue of $12.54 billion during the quarter, compared to analysts’ expectations of $12.49 billion. During the same period last year, the company posted $1.77 earnings per share. The business’s revenue for the quarter was up 6.5% on a year-over-year basis. On average, equities analysts anticipate that Delta Air Lines will post 6.8 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Thursday, July 25th will be issued a $0.4025 dividend. This represents a $1.61 annualized dividend and a dividend yield of 2.68%. This is a boost from Delta Air Lines’s previous quarterly dividend of $0.35. Delta Air Lines’s dividend payout ratio (DPR) is presently 24.78%.
In other Delta Air Lines news, insider Steven M. Sear sold 8,993 shares of the firm’s stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $53.27, for a total value of $479,057.11. Following the completion of the transaction, the insider now directly owns 76,150 shares in the company, valued at $4,056,510.50. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Edward H. Bastian sold 30,000 shares of the firm’s stock in a transaction that occurred on Monday, April 22nd. The stock was sold at an average price of $57.50, for a total transaction of $1,725,000.00. Following the sale, the chief executive officer now owns 354,191 shares of the company’s stock, valued at $20,365,982.50. The disclosure for this sale can be found here. Over the last quarter, insiders sold 65,003 shares of company stock valued at $3,709,180. Corporate insiders own 0.47% of the company’s stock.
About Delta Air Lines
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.
See Also: What is the Federal Reserve?
Receive News & Ratings for Delta Air Lines Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Delta Air Lines and related companies with MarketBeat.com's FREE daily email newsletter.