Delta Air Lines (NYSE:DAL) Issues Quarterly Earnings Results
Delta Air Lines (NYSE:DAL) announced its quarterly earnings data on Thursday. The transportation company reported $2.35 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.28 by $0.07, RTT News reports. The business had revenue of $12.54 billion during the quarter, compared to the consensus estimate of $12.49 billion. Delta Air Lines had a net margin of 9.09% and a return on equity of 30.10%. The firm’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same quarter last year, the firm earned $1.77 earnings per share.
Shares of DAL opened at $60.16 on Friday. The stock has a market capitalization of $39.04 billion, a price-to-earnings ratio of 10.65, a PEG ratio of 0.62 and a beta of 1.18. The company has a quick ratio of 0.29, a current ratio of 0.34 and a debt-to-equity ratio of 1.05. Delta Air Lines has a 1-year low of $45.08 and a 1-year high of $61.32. The firm’s fifty day moving average is $55.87.
The company also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Thursday, July 25th will be issued 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 2.68%. Delta Air Lines’s payout ratio is currently 24.78%.
In related news, CEO Edward H. Bastian sold 30,000 shares of the business’s stock in a transaction on Monday, April 22nd. The shares were sold at an average price of $57.50, for a total transaction of $1,725,000.00. Following the completion of the transaction, the chief executive officer now directly owns 354,191 shares in the company, valued at $20,365,982.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Michael P. Huerta sold 1,010 shares of the business’s stock in a transaction on Friday, May 24th. The shares were sold at an average price of $54.33, for a total transaction of $54,873.30. Following the transaction, the director now owns 5,670 shares of the company’s stock, valued at $308,051.10. The disclosure for this sale can be found here. Insiders have sold 65,003 shares of company stock worth $3,709,180 over the last three months. Corporate insiders own 0.47% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Boston Partners raised its position in shares of Delta Air Lines by 24.1% in the first quarter. Boston Partners now owns 13,730,881 shares of the transportation company’s stock worth $709,200,000 after acquiring an additional 2,669,765 shares during the period. Two Sigma Advisers LP raised its position in shares of Delta Air Lines by 185.7% in the fourth quarter. Two Sigma Advisers LP now owns 3,653,225 shares of the transportation company’s stock worth $182,296,000 after acquiring an additional 2,374,531 shares during the period. FMR LLC raised its position in shares of Delta Air Lines by 30.9% in the fourth quarter. FMR LLC now owns 9,742,670 shares of the transportation company’s stock worth $486,161,000 after acquiring an additional 2,298,101 shares during the period. Norges Bank acquired a new position in shares of Delta Air Lines in the fourth quarter worth about $89,761,000. Finally, Ceredex Value Advisors LLC acquired a new position in shares of Delta Air Lines in the first quarter worth about $56,756,000. Institutional investors own 87.21% of the company’s stock.
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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