Delta Air Lines (DAL) Shares Gap Up After Earnings Beat
Delta Air Lines, Inc. (NYSE:DAL) gapped up before the market opened on Thursday after the company announced better than expected quarterly earnings. The stock had previously closed at $59.94, but opened at $58.52. Delta Air Lines shares last traded at $58.52, with a volume of 25900000 shares.
The transportation company reported $0.96 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.87 by $0.09. The firm had revenue of $10.25 billion for the quarter, compared to analyst estimates of $10.14 billion. Delta Air Lines had a return on equity of 26.50% and a net margin of 8.97%. The business’s revenue was up 8.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.82 earnings per share.
A number of analysts have recently issued reports on DAL shares. JPMorgan Chase & Co. reaffirmed an “overweight” rating and issued a $63.00 price target (down from $67.00) on shares of Delta Air Lines in a research note on Wednesday, September 27th. ValuEngine upgraded Delta Air Lines from a “buy” rating to a “strong-buy” rating in a research report on Friday, December 1st. Cowen lifted their price objective on Delta Air Lines from $58.00 to $62.00 and gave the stock an “outperform” rating in a research report on Thursday, October 12th. Sanford C. Bernstein set a $67.00 price objective on Delta Air Lines and gave the stock a “buy” rating in a research report on Wednesday. Finally, Stifel Nicolaus reiterated a “buy” rating and set a $75.00 price objective (down previously from $80.00) on shares of Delta Air Lines in a research report on Friday, September 22nd. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $65.41.
In other Delta Air Lines news, CEO Edward H. Bastian sold 20,000 shares of Delta Air Lines stock in a transaction on Thursday, November 30th. The stock was sold at an average price of $52.79, for a total value of $1,055,800.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Joanne D. Smith sold 894 shares of Delta Air Lines stock in a transaction on Monday, December 18th. The shares were sold at an average price of $56.50, for a total value of $50,511.00. Following the completion of the sale, the executive vice president now owns 72,393 shares in the company, valued at approximately $4,090,204.50. The disclosure for this sale can be found here. In the last quarter, insiders have sold 249,197 shares of company stock worth $13,797,192. 0.37% of the stock is currently owned by company insiders.
Large investors have recently bought and sold shares of the business. Mountain Capital Investment Advisors Inc purchased a new stake in Delta Air Lines in the second quarter valued at $114,000. BB&T Investment Services Inc. purchased a new stake in Delta Air Lines in the second quarter valued at $128,000. Advisory Services Network LLC raised its position in Delta Air Lines by 3.0% in the second quarter. Advisory Services Network LLC now owns 2,546 shares of the transportation company’s stock valued at $137,000 after purchasing an additional 75 shares during the period. IHT Wealth Management LLC raised its position in Delta Air Lines by 40.9% in the second quarter. IHT Wealth Management LLC now owns 758 shares of the transportation company’s stock valued at $146,000 after purchasing an additional 220 shares during the period. Finally, Blue Granite Capital LLC purchased a new stake in Delta Air Lines in the third quarter valued at $162,000. Institutional investors own 85.01% of the company’s stock.
The company has a current ratio of 0.43, a quick ratio of 0.36 and a debt-to-equity ratio of 0.54. The company has a market capitalization of $41,720.00, a PE ratio of 11.73, a P/E/G ratio of 1.79 and a beta of 1.30.
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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