Delta Air Lines, Inc. (NYSE:DAL) posted its earnings results on Wednesday. The transportation company reported $1.57 EPS for the quarter, topping analysts’ consensus estimates of $1.53 by $0.04, Bloomberg Earnings reports. Delta Air Lines had a net margin of 8.97% and a return on equity of 26.50%. The business had revenue of $11.06 billion during the quarter, compared to the consensus estimate of $11.03 billion. During the same quarter in the previous year, the firm posted $1.70 EPS. The firm’s revenue was up 5.5% on a year-over-year basis.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 13th. Stockholders of record on Wednesday, August 23rd were paid a dividend of $0.305 per share. This represents a $1.22 annualized dividend and a dividend yield of 2.30%. The ex-dividend date of this dividend was Monday, August 21st. This is a boost from Delta Air Lines’s previous quarterly dividend of $0.20. Delta Air Lines’s dividend payout ratio (DPR) is currently 24.50%.
A number of equities research analysts have commented on the stock. Cowen and Company lifted their target price on shares of Delta Air Lines from $58.00 to $62.00 and gave the stock an “outperform” rating in a research report on Thursday. Imperial Capital raised shares of Delta Air Lines from an “in-line” rating to an “outperform” rating and set a $63.00 target price for the company in a research report on Thursday. Morgan Stanley reaffirmed an “overweight” rating and issued a $57.00 target price (up previously from $56.00) on shares of Delta Air Lines in a research report on Wednesday, October 4th. UBS AG reaffirmed a “buy” rating and issued a $62.00 target price (down previously from $65.00) on shares of Delta Air Lines in a research report on Saturday, September 30th. Finally, J P Morgan Chase & Co reaffirmed an “overweight” rating and issued a $63.00 target price (down previously from $67.00) on shares of Delta Air Lines in a research report on Wednesday, September 27th. Two investment analysts have rated the stock with a sell rating, seventeen have assigned a buy rating and two have issued a strong buy rating to the stock. The company has an average rating of “Buy” and an average price target of $62.91.
In other news, Director George N. Mattson purchased 6,000 shares of the company’s stock in a transaction that occurred on Thursday, August 24th. The shares were bought at an average price of $45.44 per share, for a total transaction of $272,640.00. Following the completion of the transaction, the director now owns 61,510 shares in the company, valued at $2,795,014.40. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Joanne D. Smith sold 3,700 shares of the firm’s stock in a transaction 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 sale, the executive vice president now owns 77,223 shares in the company, valued at approximately $4,170,042. The disclosure for this sale can be found here. Insiders bought 75,000 shares of company stock worth $278,160 in the last quarter. Company insiders own 0.37% of the company’s stock.
About Delta Air Lines
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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