Delta Air Lines, Inc. (NYSE:DAL) – Equities researchers at Imperial Capital reduced their Q1 2019 earnings estimates for shares of Delta Air Lines in a research report issued on Wednesday, January 16th. Imperial Capital analyst M. Derchin now forecasts that the transportation company will post earnings of $0.87 per share for the quarter, down from their previous estimate of $0.95. Imperial Capital currently has a “Outperform” rating and a $77.00 price target on the stock. Imperial Capital also issued estimates for Delta Air Lines’ Q3 2019 earnings at $2.07 EPS and Q4 2019 earnings at $1.44 EPS.
A number of other equities research analysts have also recently weighed in on DAL. Credit Suisse Group set a $67.00 price objective on Delta Air Lines and gave the stock a “buy” rating in a research note on Wednesday. Buckingham Research decreased their price objective on Delta Air Lines from $71.00 to $67.00 and set a “buy” rating for the company in a research note on Wednesday, October 10th. Citigroup began coverage on Delta Air Lines in a research note on Wednesday, November 28th. They set a “positive” rating and a $69.00 price objective for the company. Goldman Sachs Group began coverage on Delta Air Lines in a research note on Monday, November 12th. They set a “neutral” rating and a $64.00 price objective for the company. Finally, Morgan Stanley set a $65.00 price objective on Delta Air Lines and gave the stock a “buy” rating in a research note on Friday, October 5th. Three analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Buy” and an average price target of $67.22.
Delta Air Lines (NYSE:DAL) last issued its earnings results on Tuesday, January 15th. The transportation company reported $1.30 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.27 by $0.03. Delta Air Lines had a return on equity of 29.43% and a net margin of 8.78%. The business had revenue of $10.74 billion during the quarter, compared to analysts’ expectations of $10.71 billion. During the same period in the prior year, the business earned $0.96 EPS. The business’s revenue for the quarter was up 5.0% compared to the same quarter last year.
Institutional investors have recently bought and sold shares of the stock. BlackRock Inc. boosted its position in Delta Air Lines by 3.6% during the third quarter. BlackRock Inc. now owns 36,958,163 shares of the transportation company’s stock worth $2,137,290,000 after purchasing an additional 1,297,215 shares in the last quarter. Primecap Management Co. CA boosted its position in Delta Air Lines by 1.2% during the third quarter. Primecap Management Co. CA now owns 28,555,011 shares of the transportation company’s stock worth $1,651,336,000 after purchasing an additional 347,641 shares in the last quarter. Northern Trust Corp boosted its position in Delta Air Lines by 3.0% during the second quarter. Northern Trust Corp now owns 6,910,893 shares of the transportation company’s stock worth $342,366,000 after purchasing an additional 199,589 shares in the last quarter. Neuberger Berman Group LLC boosted its position in Delta Air Lines by 1.0% during the third quarter. Neuberger Berman Group LLC now owns 6,867,623 shares of the transportation company’s stock worth $397,155,000 after purchasing an additional 69,137 shares in the last quarter. Finally, Alliancebernstein L.P. boosted its position in Delta Air Lines by 5.1% during the third quarter. Alliancebernstein L.P. now owns 5,515,560 shares of the transportation company’s stock worth $318,965,000 after purchasing an additional 267,454 shares in the last quarter. 87.61% of the stock is currently owned by hedge funds and other institutional investors.
In related news, Director George N. Mattson bought 4,000 shares of the company’s stock in a transaction that occurred on Thursday, December 20th. The shares were purchased at an average cost of $50.91 per share, with a total value of $203,640.00. Following the completion of the acquisition, the director now directly owns 72,530 shares in the company, valued at $3,692,502.30. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Edward H. Bastian sold 60,000 shares of the firm’s stock in a transaction dated Thursday, December 27th. The stock was sold at an average price of $50.00, for a total value of $3,000,000.00. Following the sale, the chief executive officer now directly owns 326,943 shares in the company, valued at $16,347,150. The disclosure for this sale can be found here. 0.33% 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, international gateways, and airports in Amsterdam, Atlanta, Boston, Detroit, London-Heathrow, Los Angeles, Minneapolis-St.
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