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

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

Shares of DAL stock traded down $1.45 during trading hours on Friday, hitting $40.02. 988,216 shares of the company were exchanged, compared to its average volume of 12,098,233. The company has a debt-to-equity ratio of 8.88, a quick ratio of 1.23 and a current ratio of 1.27. The stock has a market capitalization 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 business’s 50-day simple moving average is $40.71 and its two-hundred day simple moving average is $33.11.

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In other news, CEO Edward H. Bastian sold 65,000 shares of Delta Air Lines 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 completion of the transaction, 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 document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Joanne D. Smith sold 13,532 shares of the stock in a transaction dated 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 owns 102,471 shares in the company, valued at approximately $3,771,957.51. The disclosure for this sale can be found here. Over the last three months, insiders sold 255,487 shares of company stock valued at $9,077,952. 0.63% of the stock is owned by corporate insiders.

DAL has been the topic of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft downgraded shares of Delta Air Lines from a “buy” rating to a “hold” rating and set a $47.00 price target on the stock. in a research note on Friday, December 11th. UBS Group cut their target price on Delta Air Lines from $34.00 to $32.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 14th. Evercore ISI boosted their price target on Delta Air Lines from $51.00 to $55.00 and gave the company an “overweight” rating in a research report on Friday. Cowen downgraded Delta Air Lines from an “outperform” rating to a “market perform” rating and set a $44.00 price objective on the stock. in a report on Monday. Finally, Zacks Investment Research upgraded Delta Air Lines from a “sell” rating to a “hold” rating and set a $45.00 target price for the company in a report on Tuesday, December 8th. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and eight have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target 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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