Delta Air Lines (DAL) Shares Gap Up Following Earnings Beat

Delta Air Lines, Inc. (NYSE:DAL) shares gapped up before the market opened on Thursday following a stronger than expected earnings report. 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 traded.

The transportation company reported $0.96 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.87 by $0.09. Delta Air Lines had a return on equity of 26.50% and a net margin of 8.97%. The business had revenue of $10.25 billion for the quarter, compared to analyst estimates of $10.14 billion. During the same quarter in the prior year, the firm posted $0.82 EPS. The business’s quarterly revenue was up 8.3% compared to the same quarter last year.

Several equities research analysts have commented on DAL shares. Cowen upped their price objective on Delta Air Lines from $62.00 to $66.00 and gave the stock an “outperform” rating in a research report on Friday, December 15th. Zacks Investment Research raised Delta Air Lines from a “sell” rating to a “hold” rating in a research note on Friday, November 10th. ValuEngine raised Delta Air Lines from a “buy” rating to a “strong-buy” rating in a research note on Friday, December 1st. Morgan Stanley reaffirmed an “overweight” rating and set a $57.00 target price (up from $56.00) on shares of Delta Air Lines in a research note on Wednesday, October 4th. Finally, Vetr downgraded Delta Air Lines from a “sell” rating to a “strong sell” rating and set a $45.16 target price for the company. in a research note on Wednesday, November 29th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the stock. Delta Air Lines currently has an average rating of “Buy” and an average price target of $65.41.

In other Delta Air Lines news, EVP Peter W. Carter sold 19,809 shares of the firm’s stock in a transaction on Tuesday, November 21st. The stock was sold at an average price of $50.42, for a total value of $998,769.78. Following the completion of the sale, the executive vice president now directly owns 67,077 shares of the company’s stock, valued at approximately $3,382,022.34. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President Glen W. Hauenstein sold 31,600 shares of the firm’s stock in a transaction on Friday, December 15th. The stock was sold at an average price of $55.83, for a total value of $1,764,228.00. Following the completion of the sale, the president now directly owns 204,018 shares of the company’s stock, valued at $11,390,324.94. The disclosure for this sale can be found here. Over the last three months, insiders sold 283,060 shares of company stock valued at $15,612,588. 0.37% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. increased its stake in shares of Delta Air Lines by 0.6% in the 2nd quarter. Vanguard Group Inc. now owns 44,951,865 shares of the transportation company’s stock worth $2,415,714,000 after acquiring an additional 274,997 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Delta Air Lines by 3.3% in the 3rd quarter. Dimensional Fund Advisors LP now owns 7,821,694 shares of the transportation company’s stock worth $377,169,000 after acquiring an additional 250,731 shares during the last quarter. APG Asset Management N.V. increased its stake in shares of Delta Air Lines by 12.3% in the 3rd quarter. APG Asset Management N.V. now owns 4,100,199 shares of the transportation company’s stock worth $197,712,000 after acquiring an additional 449,700 shares during the last quarter. Alyeska Investment Group L.P. increased its stake in shares of Delta Air Lines by 35.8% in the 3rd quarter. Alyeska Investment Group L.P. now owns 4,003,366 shares of the transportation company’s stock worth $193,042,000 after acquiring an additional 1,055,182 shares during the last quarter. Finally, Carmignac Gestion increased its stake in shares of Delta Air Lines by 0.3% in the 2nd quarter. Carmignac Gestion now owns 3,936,189 shares of the transportation company’s stock worth $211,531,000 after acquiring an additional 12,800 shares during the last quarter. 85.01% of the stock is owned by institutional investors and hedge funds.

The company has a market capitalization of $41,720.00, a P/E ratio of 11.73, a PEG ratio of 1.79 and a beta of 1.30. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.43 and a quick ratio of 0.36.

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Delta Air Lines Company Profile

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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