Delta Air Lines (NYSE:DAL) Posts Quarterly Earnings Results

Delta Air Lines (NYSE:DAL - Get Free Report) issued its earnings results on Thursday. The transportation company reported $2.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.01 by $0.09, Zacks reports. The company had revenue of $15,507,000 billion for the quarter, compared to the consensus estimate of $16.16 billion. Delta Air Lines had a return on equity of 24.86% and a net margin of 7.24%. The firm's quarterly revenue was down .1% on a year-over-year basis. During the same quarter last year, the company earned $2.36 EPS.

Delta Air Lines Trading Down 0.1%

DAL traded down $0.06 during trading hours on Friday, reaching $56.72. 17,769,124 shares of the company's stock traded hands, compared to its average volume of 9,923,060. The firm has a 50-day moving average price of $49.43 and a 200 day moving average price of $52.74. Delta Air Lines has a 52-week low of $34.74 and a 52-week high of $69.98. The company has a quick ratio of 0.33, a current ratio of 0.38 and a debt-to-equity ratio of 0.74. The firm has a market capitalization of $37.04 billion, a PE ratio of 8.22, a PEG ratio of 2.44 and a beta of 1.49.

Delta Air Lines Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 21st. Investors of record on Thursday, July 31st will be issued a dividend of $0.1875 per share. The ex-dividend date of this dividend is Thursday, July 31st. This represents a $0.75 dividend on an annualized basis and a yield of 1.32%. This is a boost from Delta Air Lines's previous quarterly dividend of $0.15. Delta Air Lines's payout ratio is presently 10.64%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on DAL. Jefferies Financial Group restated a "hold" rating and set a $46.00 price target (down previously from $85.00) on shares of Delta Air Lines in a report on Tuesday, April 1st. Barclays raised their price target on Delta Air Lines from $58.00 to $65.00 and gave the company an "overweight" rating in a report on Friday. UBS Group cut their price target on Delta Air Lines from $66.00 to $63.00 and set a "buy" rating for the company in a report on Monday, July 7th. Bank of America cut their price target on Delta Air Lines from $65.00 to $56.00 and set a "buy" rating for the company in a report on Thursday, April 3rd. Finally, TD Cowen raised their price target on Delta Air Lines from $45.00 to $50.00 and gave the company a "buy" rating in a report on Thursday, April 10th. Three equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, Delta Air Lines has an average rating of "Moderate Buy" and a consensus target price of $64.69.

Hedge Funds Weigh In On Delta Air Lines

An institutional investor recently bought a new position in Delta Air Lines stock. Acadian Asset Management LLC bought a new position in Delta Air Lines, Inc. (NYSE:DAL - Free Report) in the 1st quarter, according to its most recent filing with the SEC. The institutional investor bought 4,114 shares of the transportation company's stock, valued at approximately $178,000. 69.93% of the stock is owned by institutional investors and hedge funds.

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 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, Bogota, Lima, Mexico City, London-Heathrow, Paris-Charles de Gaulle, Sao Paulo, Seoul-Incheon, and Tokyo.