Delta Air Lines (NYSE:DAL) Releases Quarterly Earnings Results, Misses Estimates By $0.03 EPS

Delta Air Lines (NYSE:DAL) issued its earnings results on Wednesday. The transportation company reported ($2.53) earnings per share (EPS) for the quarter, missing the consensus estimate of ($2.50) by ($0.03), MarketWatch Earnings reports. The company had revenue of $3.97 billion during the quarter, compared to analyst estimates of $3.59 billion. Delta Air Lines had a negative net margin of 42.88% and a negative return on equity of 39.69%. The company’s quarterly revenue was down 65.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.70 EPS.

Shares of Delta Air Lines stock traded down $1.49 during mid-day trading on Friday, hitting $39.98. 15,411,481 shares of the stock were exchanged, compared to its average volume of 12,435,718. Delta Air Lines has a twelve month low of $17.51 and a twelve month high of $62.48. The stock has a market capitalization of $25.50 billion, a price-to-earnings ratio of -2.46 and a beta of 1.45. The company has a 50-day simple moving average of $40.71 and a 200 day simple moving average of $33.11. The company has a current ratio of 1.27, a quick ratio of 1.23 and a debt-to-equity ratio of 8.88.

In other Delta Air Lines news, CEO Edward H. Bastian sold 65,000 shares of the firm’s stock in a transaction dated Thursday, October 22nd. The shares were sold at an average price of $33.58, for a total transaction of $2,182,700.00. Following the sale, the chief executive officer now directly owns 341,060 shares of the company’s stock, valued at approximately $11,452,794.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Paul A. Jacobson sold 125,000 shares of the firm’s stock in a transaction dated Monday, November 9th. The stock was sold at an average price of $35.84, for a total transaction of $4,480,000.00. Following the sale, the chief financial officer now directly owns 303,478 shares in the company, valued at $10,876,651.52. The disclosure for this sale can be found here. Insiders have sold a total of 255,487 shares of company stock worth $9,077,952 over the last ninety days. 0.63% of the stock is owned by corporate insiders.

A number of brokerages recently weighed in on DAL. JPMorgan Chase & Co. increased their price target on shares of Delta Air Lines from $45.00 to $51.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 7th. Exane BNP Paribas initiated coverage on shares of Delta Air Lines in a research note on Friday, November 13th. They set an “outperform” rating and a $54.00 price target for the company. Zacks Investment Research upgraded shares of Delta Air Lines from a “sell” rating to a “hold” rating and set a $45.00 price objective for the company in a research report on Tuesday, December 8th. Morgan Stanley upped their price objective on shares of Delta Air Lines from $51.00 to $55.00 and gave the stock an “overweight” rating in a research report on Friday. Finally, Barclays upped their price objective on shares of Delta Air Lines from $26.00 to $30.00 in a research report on Friday, September 18th. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and eight have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $46.83.

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, London-Heathrow, Mexico City, Paris-Charles de Gaulle, and Seoul-Incheon.

Further Reading: Special Dividends

Earnings History for Delta Air Lines (NYSE:DAL)

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