Key Points
- Director David Dewalt sold 31,756 Delta shares at an average price of $90.85, generating approximately $2.89 million and reducing his direct ownership by 58.68% to 22,358 shares.
- Delta exceeded quarterly earnings and revenue expectations, reporting $1.56 in EPS and $17.67 billion in revenue, while revenue rose 18.7% year over year. The company also increased its quarterly dividend to $0.215 per share.
- Analysts remain broadly positive, with 23 Buy ratings and two Holds, producing a “Moderate Buy” consensus and an average price target of $100.40.
Delta Air Lines, Inc. (NYSE:DAL - Get Free Report) Director David Dewalt sold 31,756 shares of the company's stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $90.85, for a total transaction of $2,885,032.60. Following the sale, the director directly owned 22,358 shares of the company's stock, valued at approximately $2,031,224.30. This represents a 58.68% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.
Delta Air Lines Trading Up 0.4%
Shares of DAL stock opened at $93.13 on Thursday. Delta Air Lines, Inc. has a 1 year low of $52.88 and a 1 year high of $95.68. The firm has a fifty day moving average price of $86.10 and a 200-day moving average price of $74.62. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.42 and a quick ratio of 0.35. The company has a market cap of $61.24 billion, a price-to-earnings ratio of 15.44, a PEG ratio of 1.17 and a beta of 1.31.
Delta Air Lines (NYSE:DAL - Get Free Report) last posted its quarterly earnings data on Thursday, July 9th. The transportation company reported $1.56 EPS for the quarter, topping the consensus estimate of $1.49 by $0.07. The firm had revenue of $17.67 billion during the quarter, compared to analyst estimates of $17.43 billion. Delta Air Lines had a return on equity of 17.52% and a net margin of 5.79%.Delta Air Lines's revenue was up 18.7% on a year-over-year basis. During the same period in the prior year, the business posted $2.10 EPS. As a group, equities analysts predict that Delta Air Lines, Inc. will post 6.54 earnings per share for the current year.
Delta Air Lines Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 30th. Stockholders of record on Thursday, July 9th were paid a $0.215 dividend. This represents a $0.86 annualized dividend and a dividend yield of 0.9%. This is an increase from Delta Air Lines's previous quarterly dividend of $0.19. The ex-dividend date of this dividend was Thursday, July 9th. Delta Air Lines's dividend payout ratio is 14.26%.
Analyst Ratings Changes
A number of research firms have weighed in on DAL. The Goldman Sachs Group reiterated a "buy" rating on shares of Delta Air Lines in a research report on Monday. JPMorgan Chase & Co. upped their price objective on Delta Air Lines from $85.00 to $114.00 and gave the stock an "overweight" rating in a research note on Monday, July 13th. Barclays increased their target price on Delta Air Lines from $85.00 to $105.00 and gave the stock an "overweight" rating in a research report on Thursday, June 25th. Evercore boosted their price target on Delta Air Lines from $85.00 to $105.00 and gave the stock an "outperform" rating in a report on Thursday, June 25th. Finally, Zacks Research upgraded Delta Air Lines from a "strong sell" rating to a "hold" rating in a research note on Wednesday, April 15th. Twenty-three analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat.com, Delta Air Lines currently has a consensus rating of "Moderate Buy" and a consensus price target of $100.40.
Get Our Latest Stock Report on DAL
Institutional Investors Weigh In On Delta Air Lines
Large investors have recently made changes to their positions in the company. Brighton Jones LLC lifted its position in shares of Delta Air Lines by 33.5% in the fourth quarter. Brighton Jones LLC now owns 9,174 shares of the transportation company's stock worth $555,000 after buying an additional 2,302 shares in the last quarter. Acadian Asset Management LLC purchased a new position in Delta Air Lines during the 1st quarter valued at approximately $178,000. Sivia Capital Partners LLC purchased a new position in Delta Air Lines during the 2nd quarter valued at approximately $555,000. Marshall Wace LLP increased its stake in Delta Air Lines by 102.2% in the 2nd quarter. Marshall Wace LLP now owns 7,825 shares of the transportation company's stock worth $385,000 after acquiring an additional 357,825 shares during the last quarter. Finally, Daiwa Securities Group Inc. increased its stake in Delta Air Lines by 10.6% in the 2nd quarter. Daiwa Securities Group Inc. now owns 58,129 shares of the transportation company's stock worth $2,859,000 after acquiring an additional 5,564 shares during the last quarter. 69.93% of the stock is owned by institutional investors.
Delta Air Lines News Summary
Here are the key news stories impacting Delta Air Lines this week:
- Positive Sentiment: Crude oil prices fell for a second consecutive session, potentially lowering jet-fuel expenses and improving Delta’s profit margins if the decline persists. Lower energy costs could also ease inflationary pressure and support travel demand. Oil Just Lost its Inflation Premium: Here's Who Wins if Prices Stay Low
- Positive Sentiment: Zacks highlighted DAL as a strong momentum stock, reflecting its recent price performance and improving investor interest. Momentum support may attract additional buying, although it does not by itself establish a change in Delta’s fundamentals. Here's Why Delta Air Lines Is a Strong Momentum Stock
- Neutral Sentiment: A commentary article presents a contrarian view that higher fuel costs could potentially create benefits for Delta under certain industry or pricing conditions. However, the thesis is less immediately favorable than falling fuel prices and highlights uncertainty around fuel-cost exposure. Delta Air Lines: Higher Fuel Costs Might Produce Surprising Gains
- Neutral Sentiment: United Airlines CEO Scott Kirby’s reported merger approaches to Delta and American were rejected. Avoiding a major merger may limit near-term industry disruption for Delta, though United’s focus on fleet innovation could increase competitive pressure over time. Rejected but Not Retreating: United’s Future Lies in Fleet Innovation, Not M&A
Delta Air Lines Company Profile
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Get Free Report)
Delta Air Lines is a major U.S.-based global airline that provides scheduled passenger and cargo air transportation, aircraft maintenance and repair services, and related travel products. Its operations include mainline domestic and international passenger services, a branded regional network operating under the Delta Connection name, dedicated air cargo carriage, and in-house maintenance, repair and overhaul through Delta TechOps. Delta offers a range of cabin products for different customer segments, including premium business-class service on long-haul routes and tiered economy offerings on domestic and international flights, and it markets customer loyalty benefits through the SkyMiles frequent-flyer program.
The carrier operates a mixed fleet of narrow- and wide-body aircraft from multiple U.S.
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