Delta Air Lines (NYSE:DAL) Sees Strong Trading Volume Following Strong Earnings

Delta Air Lines, Inc. (NYSE:DAL) saw an uptick in trading volume on Thursday after the company announced better than expected quarterly earnings. 663,304 shares were traded during mid-day trading, a decline of 94% from the previous session’s volume of 11,659,142 shares.The stock last traded at $42.07 and had previously closed at $40.61.

The transportation company reported $0.22 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.15 by $0.07. The business had revenue of $9.47 billion during the quarter, compared to analyst estimates of $9.29 billion. Delta Air Lines had a negative return on equity of 294.36% and a negative net margin of 0.28%. Delta Air Lines’s revenue for the quarter was up 138.4% compared to the same quarter last year. During the same period last year, the company earned ($2.53) EPS.

A number of analysts have weighed in on DAL shares. Wolfe Research upgraded Delta Air Lines from a “peer perform” rating to an “outperform” rating in a report on Friday, November 19th. The Goldman Sachs Group increased their price target on Delta Air Lines from $39.00 to $40.00 in a report on Thursday. Raymond James decreased their price target on Delta Air Lines from $55.00 to $53.00 and set a “strong-buy” rating for the company in a report on Friday. Bank of America upgraded Delta Air Lines from a “neutral” rating to a “buy” rating and raised their target price for the company from $46.00 to $48.00 in a research note on Friday, January 7th. Finally, Susquehanna Bancshares upgraded Delta Air Lines from a “neutral” rating to a “positive” rating and set a $50.00 target price for the company in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Buy” and an average price target of $51.71.

In other Delta Air Lines news, Director David S. Taylor bought 6,000 shares of the stock in a transaction on Friday, November 26th. The shares were acquired at an average price of $35.96 per share, with a total value of $215,760.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 0.63% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in DAL. Farmers & Merchants Investments Inc. grew its holdings in Delta Air Lines by 13.6% in the fourth quarter. Farmers & Merchants Investments Inc. now owns 126,157 shares of the transportation company’s stock worth $4,930,000 after purchasing an additional 15,059 shares during the period. Spire Wealth Management increased its holdings in Delta Air Lines by 20.7% in the 4th quarter. Spire Wealth Management now owns 37,230 shares of the transportation company’s stock valued at $1,455,000 after acquiring an additional 6,396 shares during the last quarter. HighTower Trust Services LTA bought a new stake in Delta Air Lines in the 4th quarter valued at $281,000. Louisiana State Employees Retirement System grew its stake in shares of Delta Air Lines by 0.8% in the 4th quarter. Louisiana State Employees Retirement System now owns 40,100 shares of the transportation company’s stock worth $1,567,000 after buying an additional 300 shares in the last quarter. Finally, Gateway Investment Advisers LLC grew its stake in shares of Delta Air Lines by 32.3% in the 4th quarter. Gateway Investment Advisers LLC now owns 13,381 shares of the transportation company’s stock worth $523,000 after buying an additional 3,264 shares in the last quarter. 63.36% of the stock is owned by institutional investors.

The firm has a market capitalization of $25.80 billion, a PE ratio of -310.05 and a beta of 1.29. The business’s 50 day simple moving average is $39.32 and its 200 day simple moving average is $40.49. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 9.79.

Delta Air Lines Company Profile (NYSE:DAL)

Delta Air Lines, Inc engages in the provision of scheduled air transportation for passengers and cargo. It operates through the Airline and Refinery segments. The Airline segment provides scheduled air transportation for passengers and cargo. The Refinery segment consists of jet fuel and non-jet fuel products.

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