Delta Air Lines (NYSE:DAL) Updates Q3 2019 Earnings Guidance

Delta Air Lines (NYSE:DAL) updated its third quarter 2019 earnings guidance on Thursday. The company provided earnings per share guidance of $2.10-2.40 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $2.13. Delta Air Lines also updated its FY 2019 guidance to $6.75-7.25 EPS.

A number of brokerages have weighed in on DAL. Cowen reissued an outperform rating and set a $69.00 price target (up previously from $67.00) on shares of Delta Air Lines in a research note on Thursday. Zacks Investment Research raised GCP Applied Technologies from a sell rating to a hold rating in a research note on Friday, May 31st. Stephens reissued an overweight rating and set a $70.00 price target on shares of Delta Air Lines in a research note on Wednesday, July 3rd. Morgan Stanley raised to an overweight rating and set a GBX 400 ($5.23) target price on the stock in a research report on Friday. Finally, Wolfe Research set a $68.00 target price on Delta Air Lines and gave the stock a buy rating in a research report on Wednesday, July 3rd. Seven equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Delta Air Lines has an average rating of Buy and a consensus target price of $67.18.

Shares of DAL opened at $61.65 on Friday. The company has a quick ratio of 0.29, a current ratio of 0.34 and a debt-to-equity ratio of 0.95. The stock has a market cap of $40.38 billion, a price-to-earnings ratio of 10.91, a P/E/G ratio of 0.49 and a beta of 1.18. The business has a fifty day moving average price of $56.03. Delta Air Lines has a twelve month low of $45.08 and a twelve month high of $62.24.

Delta Air Lines (NYSE:DAL) last issued its earnings results on Thursday, July 11th. The transportation company reported $2.35 earnings per share for the quarter, topping the consensus estimate of $2.28 by $0.07. The business had revenue of $12.54 billion for the quarter, compared to analyst estimates of $12.49 billion. Delta Air Lines had a return on equity of 31.68% and a net margin of 9.85%. The business’s quarterly revenue was up 6.5% on a year-over-year basis. During the same period last year, the company posted $1.77 EPS. On average, equities research analysts forecast that Delta Air Lines will post 6.95 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Thursday, July 25th will be given a $0.4025 dividend. This is a positive change from Delta Air Lines’s previous quarterly dividend of $0.35. This represents a $1.61 annualized dividend and a yield of 2.61%. Delta Air Lines’s dividend payout ratio (DPR) is 24.78%.

In other Delta Air Lines news, insider Steven M. Sear sold 8,993 shares of the firm’s stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $53.27, for a total value of $479,057.11. Following the transaction, the insider now directly owns 76,150 shares of the company’s stock, valued at $4,056,510.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Michael P. Huerta sold 1,010 shares of the firm’s stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $54.33, for a total value of $54,873.30. Following the completion of the transaction, the director now directly owns 5,670 shares in the company, valued at $308,051.10. The disclosure for this sale can be found here. Insiders sold 65,003 shares of company stock worth $3,709,180 over the last three months. 0.47% of the stock is currently owned by corporate insiders.

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 route network is centered on a system of hubs and markets at airports in Amsterdam, Atlanta, Boston, Detroit, London-Heathrow, Los Angeles, Mexico City, Minneapolis-St.

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Earnings History and Estimates for Delta Air Lines (NYSE:DAL)

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