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

Delta Air Lines (NYSE:DAL) released its earnings results on Wednesday. The transportation company reported ($2.53) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($2.50) by ($0.03), MarketWatch Earnings reports. The firm had revenue of $3.97 billion during the quarter, compared to analysts’ expectations of $3.59 billion. Delta Air Lines had a negative return on equity of 39.69% and a negative net margin of 42.88%. The company’s revenue was down 65.3% compared to the same quarter last year. During the same period in the prior year, the company posted $1.70 earnings per share.

Shares of Delta Air Lines stock traded down $1.49 during trading on Friday, hitting $39.98. 1,049,406 shares of the stock traded hands, compared to its average volume of 12,098,233. The firm has a market cap of $25.50 billion, a P/E ratio of -2.46 and a beta of 1.45. The company has a current ratio of 1.27, a quick ratio of 1.23 and a debt-to-equity ratio of 8.88. Delta Air Lines has a 52-week low of $17.51 and a 52-week high of $62.48. The stock’s fifty day simple moving average is $40.71 and its 200 day simple moving average is $33.11.

In related news, 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 owns 303,478 shares of the company’s stock, valued at $10,876,651.52. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, 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 value of $2,182,700.00. Following the sale, the chief executive officer now directly owns 341,060 shares in the company, valued at approximately $11,452,794.80. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 255,487 shares of company stock worth $9,077,952. Insiders own 0.63% of the company’s stock.

DAL has been the subject of several analyst reports. JPMorgan Chase & Co. increased their target price on shares of Delta Air Lines from $45.00 to $51.00 and gave the stock an “overweight” rating in a report on Wednesday, October 7th. Raymond James downgraded Delta Air Lines from an “outperform” rating to a “market perform” rating in a research note on Monday, November 30th. Morgan Stanley upped their price target on Delta Air Lines from $51.00 to $55.00 and gave the stock an “overweight” rating in a research note on Friday. Barclays upped their price target on Delta Air Lines from $26.00 to $30.00 in a research note on Friday, September 18th. Finally, Vertical Research upgraded Delta Air Lines from a “hold” rating to a “buy” rating and set a $58.00 target price for the company in a research report on Friday. One analyst has rated the stock with a sell rating, fifteen have given a hold rating and eight have given a buy rating to the company. The stock 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.

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Earnings History for Delta Air Lines (NYSE:DAL)

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