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

Posted by Adam Masters on Jan 15th, 2021 // Comments off

Delta Air Lines (NYSE:DAL) released its quarterly earnings results on Wednesday. The transportation company reported ($2.53) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($2.50) by ($0.03), MarketWatch Earnings reports. The firm had revenue of $3.97 billion for the quarter, compared to the consensus estimate 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 firm’s revenue was down 65.3% on a year-over-year basis. During the same quarter last year, the company earned $1.70 earnings per share.

DAL stock traded down $1.45 during trading on Friday, hitting $40.02. 988,216 shares of the stock traded hands, compared to its average volume of 12,098,233. The company has a current ratio of 1.27, a quick ratio of 1.23 and a debt-to-equity ratio of 8.88. The stock has a market cap of $25.52 billion, a price-to-earnings ratio of -2.46 and a beta of 1.45. Delta Air Lines has a one year low of $17.51 and a one year high of $62.48. The company has a 50 day simple moving average of $40.71 and a 200 day simple moving average of $33.11.

In related news, EVP Joanne D. Smith sold 13,532 shares of the stock in a transaction that occurred on Monday, November 9th. The stock was sold at an average price of $36.81, for a total transaction of $498,112.92. Following the sale, the executive vice president now directly owns 102,471 shares in the company, valued at approximately $3,771,957.51. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Edward H. Bastian sold 65,000 shares of the firm’s stock in a transaction on Thursday, October 22nd. The shares were sold at an average price of $33.58, for a total value 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 $11,452,794.80. The disclosure for this sale can be found here. Insiders have sold 255,487 shares of company stock worth $9,077,952 over the last ninety days. Insiders own 0.63% of the company’s stock.

Several analysts recently weighed in on the company. JPMorgan Chase & Co. increased their target price on Delta Air Lines from $45.00 to $51.00 and gave the company an “overweight” rating in a research note on Wednesday, October 7th. Deutsche Bank Aktiengesellschaft lowered shares of Delta Air Lines from a “buy” rating to a “hold” rating and set a $47.00 target price on the stock. in a research report on Friday, December 11th. Barclays increased their price target on shares of Delta Air Lines from $26.00 to $30.00 in a report on Friday, September 18th. Zacks Investment Research upgraded shares of Delta Air Lines from a “sell” rating to a “hold” rating and set a $45.00 price target on the stock in a research report on Tuesday, December 8th. Finally, Exane BNP Paribas initiated coverage on shares of Delta Air Lines in a research report on Friday, November 13th. They set an “outperform” rating and a $54.00 price objective for the company. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and eight have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $46.83.

About Delta Air Lines

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.

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

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