-$2.97 Earnings Per Share Expected for Delta Air Lines, Inc. (NYSE:DAL) This Quarter

Equities analysts expect Delta Air Lines, Inc. (NYSE:DAL) to report earnings per share (EPS) of ($2.97) for the current quarter, Zacks reports. Ten analysts have made estimates for Delta Air Lines’ earnings. The lowest EPS estimate is ($4.13) and the highest is ($2.24). Delta Air Lines reported earnings of $2.32 per share during the same quarter last year, which would suggest a negative year-over-year growth rate of 228%. The firm is scheduled to issue its next quarterly earnings report on Thursday, October 8th.

On average, analysts expect that Delta Air Lines will report full-year earnings of ($9.46) per share for the current fiscal year, with EPS estimates ranging from ($11.68) to ($8.04). For the next fiscal year, analysts forecast that the company will report earnings of $1.17 per share, with EPS estimates ranging from ($5.48) to $4.38. Zacks’ EPS calculations are an average based on a survey of research analysts that cover Delta Air Lines.

Delta Air Lines (NYSE:DAL) last posted its quarterly earnings results on Tuesday, July 14th. The transportation company reported ($4.43) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($4.24) by ($0.19). The business had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.40 billion. Delta Air Lines had a negative return on equity of 4.02% and a negative net margin of 10.74%. The business’s revenue was down 88.3% on a year-over-year basis. During the same quarter last year, the firm earned $2.35 EPS.

A number of brokerages have recently commented on DAL. Credit Suisse Group reaffirmed a “market perform” rating and issued a $42.00 target price on shares of Delta Air Lines in a report on Friday, June 12th. Cowen began coverage on Delta Air Lines in a report on Friday, May 29th. They set a “buy” rating and a $33.00 price objective for the company. Zacks Investment Research raised Delta Air Lines from a “sell” rating to a “hold” rating and set a $31.00 price target for the company in a report on Wednesday, June 24th. Morgan Stanley initiated coverage on Delta Air Lines in a report on Tuesday, September 8th. They issued an “overweight” rating and a $50.00 price target for the company. Finally, Berenberg Bank lowered Delta Air Lines from a “buy” rating to a “hold” rating and set a $32.00 target price for the company. in a research note on Wednesday, September 2nd. Eleven research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $47.21.

Shares of DAL stock traded up $1.06 on Wednesday, reaching $34.57. 25,941,239 shares of the stock were exchanged, compared to its average volume of 35,159,301. Delta Air Lines has a twelve month low of $17.51 and a twelve month high of $62.48. The company has a market capitalization of $22.05 billion, a price-to-earnings ratio of -5.93 and a beta of 1.32. The company has a current ratio of 0.94, a quick ratio of 0.91 and a debt-to-equity ratio of 2.23. The business’s 50 day moving average price is $29.20 and its 200 day moving average price is $28.35.

In related news, CFO Paul A. Jacobson sold 25,000 shares of Delta Air Lines stock in a transaction on Friday, August 28th. The shares were sold at an average price of $31.70, for a total value of $792,500.00. Also, CFO Paul A. Jacobson sold 18,000 shares of Delta Air Lines stock in a transaction on Monday, August 10th. The stock was sold at an average price of $29.00, for a total transaction of $522,000.00. Following the completion of the transaction, the chief financial officer now owns 453,478 shares in the company, valued at approximately $13,150,862. The disclosure for this sale can be found here. Insiders have sold a total of 57,127 shares of company stock worth $1,723,900 in the last 90 days. 0.63% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in DAL. Vanguard Group Inc. grew its position in Delta Air Lines by 22.5% in the 2nd quarter. Vanguard Group Inc. now owns 55,697,215 shares of the transportation company’s stock worth $1,562,308,000 after purchasing an additional 10,213,027 shares during the last quarter. Primecap Management Co. CA boosted its position in Delta Air Lines by 0.7% during the 1st quarter. Primecap Management Co. CA now owns 28,542,975 shares of the transportation company’s stock valued at $814,331,000 after acquiring an additional 188,370 shares in the last quarter. Geode Capital Management LLC boosted its position in Delta Air Lines by 1.6% during the 1st quarter. Geode Capital Management LLC now owns 8,287,518 shares of the transportation company’s stock valued at $236,193,000 after acquiring an additional 130,950 shares in the last quarter. Bank of New York Mellon Corp boosted its position in Delta Air Lines by 9.1% during the 1st quarter. Bank of New York Mellon Corp now owns 7,835,323 shares of the transportation company’s stock valued at $223,543,000 after acquiring an additional 655,112 shares in the last quarter. Finally, Morgan Stanley boosted its position in Delta Air Lines by 52.8% during the 1st quarter. Morgan Stanley now owns 5,726,585 shares of the transportation company’s stock valued at $163,379,000 after acquiring an additional 1,979,986 shares in the last quarter. Hedge funds and other institutional investors own 58.31% of the company’s stock.

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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