Delta Air Lines Inc. (NYSE:DAL) saw unusually-high trading volume on Thursday following a better than expected earnings announcement. Approximately 17,502,145 shares traded hands during mid-day trading, an increase of 69% from the previous session’s volume of 10,367,340 shares.The stock last traded at $39.82 and had previously closed at $39.27.
The company reported $1.70 EPS for the quarter, beating the Zacks’ consensus estimate of $1.65 by $0.05. The business earned $10.48 billion during the quarter. Delta Air Lines had a net margin of 11.88% and a return on equity of 40.31%. Delta Air Lines’s quarterly revenue was down 5.6% on a year-over-year basis. During the same quarter last year, the company earned $1.74 earnings per share.
DAL has been the subject of a number of recent research reports. Cowen and Company reiterated an “outperform” rating and issued a $55.00 target price on shares of Delta Air Lines in a research report on Thursday, August 11th. JPMorgan Chase & Co. reduced their target price on shares of Delta Air Lines from $63.00 to $48.50 and set an “overweight” rating for the company in a research report on Wednesday, July 27th. Sanford C. Bernstein started coverage on shares of Delta Air Lines in a research report on Tuesday. They issued a “market perform” rating and a $43.00 target price for the company. Imperial Capital started coverage on shares of Delta Air Lines in a report on Wednesday, August 24th. They issued an “in-line” rating and a $41.00 price objective for the company. Finally, Vetr lowered shares of Delta Air Lines from a “strong-buy” rating to a “hold” rating and set a $41.22 price objective for the company. in a report on Thursday, October 6th. Six equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $53.17.
In related news, Director George N. Mattson acquired 10,000 shares of the business’s stock in a transaction on Wednesday, August 3rd. The shares were bought at an average price of $36.50 per share, with a total value of $365,000.00. Following the completion of the acquisition, the director now owns 54,750 shares in the company, valued at $1,998,375. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Paul A. Jacobson acquired 25,000 shares of the business’s stock in a transaction on Monday, July 25th. The shares were bought at an average cost of $38.91 per share, for a total transaction of $972,750.00. Following the acquisition, the chief financial officer now owns 328,631 shares of the company’s stock, valued at approximately $12,787,032.21. The disclosure for this purchase can be found here. 0.75% of the stock is currently owned by corporate insiders.
Hedge funds have recently added to or reduced their stakes in the company. Archford Capital Strategies LLC boosted its stake in Delta Air Lines by 3,152.4% in the second quarter. Archford Capital Strategies LLC now owns 2,732 shares of the company’s stock worth $100,000 after buying an additional 2,648 shares during the last quarter. Capital Guardian Trust Co. boosted its stake in Delta Air Lines by 168.2% in the second quarter. Capital Guardian Trust Co. now owns 3,189 shares of the company’s stock worth $116,000 after buying an additional 2,000 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. bought a new stake in Delta Air Lines during the second quarter worth $124,000. Daiwa SB Investments Ltd. boosted its stake in Delta Air Lines by 8.6% in the second quarter. Daiwa SB Investments Ltd. now owns 3,530 shares of the company’s stock worth $128,000 after buying an additional 280 shares during the last quarter. Finally, Quadrant Capital Group LLC boosted its stake in Delta Air Lines by 1.9% in the second quarter. Quadrant Capital Group LLC now owns 4,211 shares of the company’s stock worth $150,000 after buying an additional 79 shares during the last quarter. 84.51% of the stock is currently owned by institutional investors.
The company has a market cap of $30.35 billion, a P/E ratio of 6.52 and a beta of 0.95. The firm has a 50 day moving average price of $38.38 and a 200-day moving average price of $40.34.
Delta Air Lines Company Profile
Delta Air Lines, Inc provides scheduled air transportation for passengers and cargo throughout the United States and around the world. The Company’s operates through segments, including Airline Segment and Refinery Segment. The Airline segment is managed as a single business unit that provides scheduled air transportation for passengers and cargo throughout the United States and around the world and other ancillary airline services.
Receive News & Ratings for Delta Air Lines Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Delta Air Lines Inc. and related companies with MarketBeat.com's FREE daily email newsletter.