Delta Air Lines (NYSE:DAL) Releases Earnings Results, Beats Expectations By $0.09 EPS

Delta Air Lines (NYSE:DAL) announced its earnings results on Wednesday. The transportation company reported $0.45 EPS for the quarter, topping the consensus estimate of $0.36 by $0.09, RTT News reports. The firm had revenue of $13.75 billion for the quarter, compared to the consensus estimate of $12.51 billion. Delta Air Lines had a net margin of 8.48% and a return on equity of 41.89%. The business’s quarterly revenue was up 7.8% on a year-over-year basis. During the same period last year, the company posted $0.25 EPS.

Delta Air Lines Stock Performance

Delta Air Lines stock opened at $47.63 on Friday. Delta Air Lines has a 12-month low of $30.60 and a 12-month high of $49.81. The company has a quick ratio of 0.34, a current ratio of 0.41 and a debt-to-equity ratio of 1.48. The business’s 50-day moving average price is $43.30 and its two-hundred day moving average price is $39.29. The stock has a market cap of $30.64 billion, a PE ratio of 6.12, a P/E/G ratio of 0.70 and a beta of 1.43.

Delta Air Lines Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 18th. Investors of record on Monday, February 26th were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.84%. The ex-dividend date of this dividend was Friday, February 23rd. Delta Air Lines’s dividend payout ratio (DPR) is presently 5.14%.

Wall Street Analyst Weigh In

Several analysts have commented on DAL shares. Susquehanna raised their target price on shares of Delta Air Lines from $47.00 to $54.00 and gave the stock a “positive” rating in a report on Tuesday. Bank of America raised their price target on shares of Delta Air Lines from $53.00 to $55.00 and gave the stock a “buy” rating in a research note on Thursday. UBS Group started coverage on shares of Delta Air Lines in a research note on Wednesday, March 20th. They set a “buy” rating and a $59.00 price target for the company. Deutsche Bank Aktiengesellschaft raised their target price on shares of Delta Air Lines from $50.00 to $60.00 and gave the company a “buy” rating in a research note on Thursday. Finally, TheStreet raised shares of Delta Air Lines from a “c+” rating to a “b-” rating in a research note on Thursday, January 4th. One equities research analyst has rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $58.29.

Insider Buying and Selling at Delta Air Lines

In other Delta Air Lines news, CEO Edward H. Bastian sold 71,840 shares of the business’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $39.20, for a total value of $2,816,128.00. Following the transaction, the chief executive officer now directly owns 428,768 shares of the company’s stock, valued at $16,807,705.60. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.89% of the company’s stock.

Hedge Funds Weigh In On Delta Air Lines

A number of institutional investors have recently modified their holdings of the company. Parkside Financial Bank & Trust raised its position in shares of Delta Air Lines by 10.1% during the second quarter. Parkside Financial Bank & Trust now owns 2,817 shares of the transportation company’s stock worth $134,000 after purchasing an additional 258 shares during the period. Forum Financial Management LP grew its holdings in Delta Air Lines by 3.5% during the first quarter. Forum Financial Management LP now owns 8,675 shares of the transportation company’s stock worth $343,000 after buying an additional 292 shares in the last quarter. Utah Retirement Systems grew its holdings in Delta Air Lines by 0.6% during the fourth quarter. Utah Retirement Systems now owns 54,325 shares of the transportation company’s stock worth $1,785,000 after buying an additional 300 shares in the last quarter. Steward Partners Investment Advisory LLC grew its holdings in Delta Air Lines by 0.7% during the first quarter. Steward Partners Investment Advisory LLC now owns 44,086 shares of the transportation company’s stock worth $1,539,000 after buying an additional 309 shares in the last quarter. Finally, Equitable Holdings Inc. grew its holdings in Delta Air Lines by 1.5% during the first quarter. Equitable Holdings Inc. now owns 24,391 shares of the transportation company’s stock worth $965,000 after buying an additional 367 shares in the last quarter. 69.93% of the stock is owned by institutional investors and hedge funds.

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 domestic network centered on core hubs in Atlanta, Minneapolis-St. Paul, Detroit, and Salt Lake City, as well as coastal hub positions in Boston, Los Angeles, New York-LaGuardia, New York-JFK, and Seattle; and international network centered on hubs and market presence in Amsterdam, Bogota, Lima, Mexico City, London-Heathrow, Paris-Charles de Gaulle, Sao Paulo, Seoul-Incheon, and Tokyo.