Delta Air Lines (NYSE:DAL) Releases Q3 2019 Earnings Guidance

Delta Air Lines (NYSE:DAL) issued an update on its third quarter 2019 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $2.10-2.40 for the period, compared to the Thomson Reuters consensus estimate of $2.13. Delta Air Lines also updated its FY 2019 guidance to $6.75-7.25 EPS.

Delta Air Lines stock opened at $61.65 on Friday. Delta Air Lines has a fifty-two week low of $45.08 and a fifty-two week high of $62.24. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.34 and a quick ratio of 0.29. The stock has a market cap of $40.38 billion, a P/E ratio of 10.91, a P/E/G ratio of 0.49 and a beta of 1.18. The firm has a 50-day moving average price of $56.03.

Delta Air Lines (NYSE:DAL) last posted its earnings results on Thursday, July 11th. The transportation company reported $2.35 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.28 by $0.07. 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 during the quarter, compared to the consensus estimate of $12.49 billion. During the same period in the previous year, the business earned $1.77 EPS. The business’s quarterly revenue was up 6.5% on a year-over-year basis. Sell-side analysts forecast that Delta Air Lines will post 6.95 earnings per share for the current year.

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

Several analysts have commented on the company. Morgan Stanley raised to an overweight rating and set a GBX 400 ($5.23) price objective for the company in a research note on Friday. Cowen reaffirmed an outperform rating and set a $69.00 price objective (up from $67.00) on shares of Delta Air Lines in a research note on Thursday. Buckingham Research reduced their price objective on Fastenal from $31.00 to $29.00 and set a neutral rating for the company in a research note on Friday. Citigroup upped their price objective on Vistra Energy from $32.00 to $36.00 and gave the company a buy rating in a research note on Thursday, April 11th. Finally, Zacks Investment Research raised GCP Applied Technologies from a sell rating to a hold rating in a research note on Friday, May 31st. Seven analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. The company presently has a consensus rating of Buy and an average target price of $67.18.

In other news, insider Steven M. Sear sold 8,993 shares of the stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $53.27, for a total transaction of $479,057.11. Following the completion of the transaction, the insider now directly owns 76,150 shares of the company’s stock, valued at approximately $4,056,510.50. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Edward H. Bastian sold 30,000 shares of the stock in a transaction that occurred on Monday, April 22nd. The stock was sold at an average price of $57.50, for a total value of $1,725,000.00. Following the transaction, the chief executive officer now directly 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 ninety days, insiders have sold 65,003 shares of company stock valued at $3,709,180. 0.47% of the stock is owned by company insiders.

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.

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Earnings History and Estimates for Delta Air Lines (NYSE:DAL)

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