Zacks: Analysts Expect Delta Air Lines, Inc. (NYSE:DAL) Will Post Quarterly Sales of $12.61 Billion

Brokerages expect Delta Air Lines, Inc. (NYSE:DAL) to announce $12.61 billion in sales for the current quarter, according to Zacks Investment Research. Seven analysts have provided estimates for Delta Air Lines’ earnings, with estimates ranging from $12.54 billion to $12.73 billion. Delta Air Lines posted sales of $11.95 billion during the same quarter last year, which would indicate a positive year over year growth rate of 5.5%. The firm is expected to report its next quarterly earnings report before the market opens on Thursday, October 10th.

According to Zacks, analysts expect that Delta Air Lines will report full year sales of $46.86 billion for the current financial year, with estimates ranging from $46.63 billion to $47.16 billion. For the next financial year, analysts expect that the firm will post sales of $48.67 billion, with estimates ranging from $47.56 billion to $49.63 billion. Zacks’ sales calculations are an average based on a survey of analysts that follow Delta Air Lines.

Delta Air Lines (NYSE:DAL) last posted its earnings results on Thursday, October 10th. The transportation company reported $2.32 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.26 by $0.06. Delta Air Lines had a net margin of 9.85% and a return on equity of 31.68%. The firm had revenue of $12.56 billion during the quarter, compared to the consensus estimate of $12.61 billion. During the same quarter last year, the firm earned $1.80 EPS. The firm’s revenue for the quarter was up 5.1% on a year-over-year basis.

Several equities analysts have commented on DAL shares. Buckingham Research cut shares of Delta Air Lines from a “buy” rating to a “neutral” rating and decreased their price target for the company from $74.00 to $58.00 in a research report on Thursday, October 3rd. Morgan Stanley decreased their price target on shares of Delta Air Lines from $63.00 to $59.00 and set an “equal weight” rating for the company in a research report on Thursday. Credit Suisse Group decreased their price target on shares of Delta Air Lines from $72.00 to $71.00 and set an “outperform” rating for the company in a research report on Thursday, October 3rd. Raymond James raised their price target on shares of Delta Air Lines from $68.00 to $70.00 and gave the company an “outperform” rating in a research report on Friday, July 12th. Finally, Stephens set a $75.00 price target on shares of Delta Air Lines and gave the company a “buy” rating in a research report on Monday, September 30th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $67.13.

In other news, President Glen W. Hauenstein sold 50,000 shares of Delta Air Lines stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $63.03, for a total transaction of $3,151,500.00. Following the completion of the sale, the president now directly owns 267,526 shares of the company’s stock, valued at approximately $16,862,163.78. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Rahul D. Samant sold 16,559 shares of Delta Air Lines stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $61.87, for a total transaction of $1,024,505.33. Following the sale, the executive vice president now directly owns 51,039 shares of the company’s stock, valued at $3,157,782.93. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 83,285 shares of company stock valued at $5,219,381. Corporate insiders own 0.47% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in DAL. Nuveen Asset Management LLC lifted its position in shares of Delta Air Lines by 3,507.5% during the 2nd quarter. Nuveen Asset Management LLC now owns 3,338,652 shares of the transportation company’s stock worth $189,469,000 after purchasing an additional 3,246,105 shares during the last quarter. AQR Capital Management LLC lifted its position in Delta Air Lines by 207.3% in the second quarter. AQR Capital Management LLC now owns 2,075,433 shares of the transportation company’s stock valued at $117,781,000 after acquiring an additional 1,400,082 shares during the last quarter. Holocene Advisors LP lifted its position in Delta Air Lines by 346.4% in the second quarter. Holocene Advisors LP now owns 1,141,994 shares of the transportation company’s stock valued at $64,808,000 after acquiring an additional 886,164 shares during the last quarter. Janus Henderson Group PLC lifted its position in Delta Air Lines by 27.5% in the second quarter. Janus Henderson Group PLC now owns 3,946,432 shares of the transportation company’s stock valued at $223,961,000 after acquiring an additional 850,291 shares during the last quarter. Finally, Neuberger Berman Group LLC lifted its position in Delta Air Lines by 15.0% in the first quarter. Neuberger Berman Group LLC now owns 6,124,500 shares of the transportation company’s stock valued at $316,331,000 after acquiring an additional 798,959 shares during the last quarter. 86.07% of the stock is owned by institutional investors and hedge funds.

Delta Air Lines stock traded down $0.81 during trading on Friday, hitting $53.11. The company had a trading volume of 1,445,117 shares, compared to its average volume of 6,614,583. Delta Air Lines has a 1-year low of $45.08 and a 1-year high of $63.44. The company has a current ratio of 0.34, a quick ratio of 0.29 and a debt-to-equity ratio of 0.95. The company’s 50 day simple moving average is $57.34 and its 200-day simple moving average is $57.13. The stock has a market cap of $34.69 billion, a price-to-earnings ratio of 9.40, a price-to-earnings-growth ratio of 0.48 and a beta of 1.16.

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 and markets at airports in Amsterdam, Atlanta, Boston, Detroit, London-Heathrow, Los Angeles, Mexico City, Minneapolis-St.

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Earnings History and Estimates for Delta Air Lines (NYSE:DAL)

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