Delta Air Lines (NYSE:DAL) Releases Earnings Results, Beats Expectations By $0.07 EPS

Delta Air Lines (NYSE:DAL) announced its earnings results on Thursday. The transportation company reported $2.35 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.28 by $0.07, RTT News reports. Delta Air Lines had a return on equity of 31.68% and a net margin of 9.85%. The business had revenue of $12.54 billion for the quarter, compared to analyst estimates of $12.49 billion. During the same period in the previous year, the company earned $1.77 earnings per share. The company’s revenue for the quarter was up 6.5% compared to the same quarter last year.

NYSE:DAL opened at $61.65 on Friday. The firm has a market capitalization of $40.38 billion, a P/E ratio of 10.91, a price-to-earnings-growth ratio of 0.49 and a beta of 1.18. Delta Air Lines has a one year low of $45.08 and a one year high of $62.24. The stock has a 50-day moving average price of $56.03. The company has a quick ratio of 0.29, a current ratio of 0.34 and a debt-to-equity ratio of 0.95.

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Thursday, July 25th will be paid a $0.4025 dividend. This represents a $1.61 dividend on an annualized basis and a yield of 2.61%. This is an increase from Delta Air Lines’s previous quarterly dividend of $0.35. Delta Air Lines’s dividend payout ratio (DPR) is 24.78%.

In other Delta Air Lines news, EVP Peter W. Carter sold 25,000 shares of Delta Air Lines stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $58.01, for a total value of $1,450,250.00. Following the completion of the transaction, the executive vice president now directly owns 85,295 shares in the company, valued at $4,947,962.95. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Steven M. Sear sold 8,993 shares of Delta Air Lines stock in a transaction that occurred on 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 owns 76,150 shares of the company’s stock, valued at $4,056,510.50. The disclosure for this sale can be found here. Insiders sold 65,003 shares of company stock valued at $3,709,180 over the last quarter. Insiders own 0.47% of the company’s stock.

Hedge funds have recently modified their holdings of the business. Horizon Investments LLC boosted its stake in Delta Air Lines by 12.7% in the first quarter. Horizon Investments LLC now owns 15,084 shares of the transportation company’s stock valued at $774,000 after acquiring an additional 1,703 shares during the period. Laurel Wealth Advisors LLC boosted its stake in Delta Air Lines by 71.5% in the first quarter. Laurel Wealth Advisors LLC now owns 12,230 shares of the transportation company’s stock valued at $632,000 after acquiring an additional 5,100 shares during the period. Lowe Brockenbrough & Co. Inc. boosted its stake in Delta Air Lines by 7.9% in the first quarter. Lowe Brockenbrough & Co. Inc. now owns 136,204 shares of the transportation company’s stock valued at $7,035,000 after acquiring an additional 9,970 shares during the period. Envestnet Asset Management Inc. boosted its stake in Delta Air Lines by 126.4% in the first quarter. Envestnet Asset Management Inc. now owns 773,349 shares of the transportation company’s stock valued at $39,944,000 after acquiring an additional 431,817 shares during the period. Finally, Ontario Teachers Pension Plan Board boosted its stake in Delta Air Lines by 2,719.1% in the first quarter. Ontario Teachers Pension Plan Board now owns 166,241 shares of the transportation company’s stock valued at $8,586,000 after acquiring an additional 160,344 shares during the period. Institutional investors own 87.21% of the company’s stock.

A number of brokerages have recently issued reports on DAL. Stephens reaffirmed an “overweight” rating and set a $70.00 target price on shares of Delta Air Lines in a research report on Wednesday, July 3rd. Bank of America set a $152.00 target price on Caterpillar and gave the stock a “buy” rating in a research report on Thursday, April 4th. Morgan Stanley raised to an “overweight” rating and set a GBX 400 ($5.23) target price on the stock in a research report on Friday. Zacks Investment Research raised GCP Applied Technologies from a “sell” rating to a “hold” rating in a research report on Friday, May 31st. Finally, Raymond James reaffirmed a “hold” rating and set a $19.50 target price on shares of in a research report on Friday. Seven analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Delta Air Lines has an average rating of “Buy” and a consensus target price 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.

See Also: What do I need to know about analyst ratings?

Earnings History for Delta Air Lines (NYSE:DAL)

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.