Brokerages Expect Delta Air Lines, Inc. (NYSE:DAL) Will Announce Quarterly Sales of $3.15 Billion

Equities analysts expect Delta Air Lines, Inc. (NYSE:DAL) to post sales of $3.15 billion for the current quarter, according to Zacks. Ten analysts have issued estimates for Delta Air Lines’ earnings, with the lowest sales estimate coming in at $2.82 billion and the highest estimate coming in at $3.71 billion. Delta Air Lines reported sales of $12.56 billion during the same quarter last year, which indicates a negative year-over-year growth rate of 74.9%. The company is expected to issue its next quarterly earnings results on Thursday, October 8th.

According to Zacks, analysts expect that Delta Air Lines will report full-year sales of $18.02 billion for the current year, with estimates ranging from $16.92 billion to $19.34 billion. For the next fiscal year, analysts forecast that the firm will post sales of $31.40 billion, with estimates ranging from $24.43 billion to $37.13 billion. Zacks’ sales calculations are an average based on a survey of research firms that cover Delta Air Lines.

Delta Air Lines (NYSE:DAL) last released its quarterly earnings results on Tuesday, July 14th. The transportation company reported ($4.43) earnings per share for the quarter, missing the consensus estimate of ($4.24) by ($0.19). The firm had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $1.40 billion. Delta Air Lines had a negative net margin of 10.74% and a negative return on equity of 4.02%. Delta Air Lines’s quarterly revenue was down 88.3% compared to the same quarter last year. During the same period in the previous year, the company earned $2.35 earnings per share.

DAL has been the subject of a number of recent research reports. Citigroup boosted their price target on Delta Air Lines from $30.00 to $38.00 and gave the company a “buy” rating in a research note on Monday, June 15th. Cowen initiated coverage on shares of Delta Air Lines in a report on Friday, May 29th. They set a “buy” rating and a $33.00 target price for the company. ValuEngine upgraded shares of Delta Air Lines from a “buy” rating to a “strong-buy” rating in a research note on Thursday, August 6th. Zacks Investment Research upgraded Delta Air Lines from a “sell” rating to a “hold” rating and set a $31.00 price objective for the company in a research note on Wednesday, June 24th. Finally, Goldman Sachs Group raised their target price on Delta Air Lines from $33.00 to $38.00 and gave the stock a “neutral” rating in a report on Monday, June 29th. Eleven research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $47.21.

Delta Air Lines stock traded up $1.06 during mid-day trading on Friday, reaching $34.57. 25,941,239 shares of the stock traded hands, compared to its average volume of 35,159,301. Delta Air Lines has a 12-month low of $17.51 and a 12-month high of $62.48. The business’s 50-day moving average is $29.20 and its 200-day moving average is $28.35. The company has a debt-to-equity ratio of 2.23, a current ratio of 0.94 and a quick ratio of 0.91. The stock has a market capitalization of $22.05 billion, a PE ratio of -5.93 and a beta of 1.32.

In related news, CFO Paul A. Jacobson sold 18,000 shares of the business’s stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $29.00, for a total value of $522,000.00. Following the sale, the chief financial officer now directly owns 453,478 shares in the company, valued at $13,150,862. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Paul A. Jacobson sold 25,000 shares of the stock in a transaction that occurred on Friday, August 28th. The shares were sold at an average price of $31.70, for a total value of $792,500.00. In the last quarter, insiders have sold 57,127 shares of company stock worth $1,723,900. Company insiders own 0.63% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its position in shares of Delta Air Lines by 22.5% during the 2nd quarter. Vanguard Group Inc. now owns 55,697,215 shares of the transportation company’s stock valued at $1,562,308,000 after acquiring an additional 10,213,027 shares during the last quarter. H&H International Investment LLC bought a new position in Delta Air Lines during the second quarter valued at $115,005,000. U S Global Investors Inc. lifted its position in Delta Air Lines by 260.3% during the second quarter. U S Global Investors Inc. now owns 4,245,493 shares of the transportation company’s stock valued at $119,086,000 after purchasing an additional 3,067,298 shares during the last quarter. Morgan Stanley grew its stake in shares of Delta Air Lines by 52.8% in the 1st quarter. Morgan Stanley now owns 5,726,585 shares of the transportation company’s stock worth $163,379,000 after buying an additional 1,979,986 shares in the last quarter. Finally, Two Sigma Advisers LP increased its holdings in shares of Delta Air Lines by 54.1% in the 2nd quarter. Two Sigma Advisers LP now owns 3,082,325 shares of the transportation company’s stock worth $86,459,000 after buying an additional 1,082,400 shares during the last quarter. 58.31% of the stock is currently owned by institutional investors and hedge funds.

Delta Air Lines Company Profile

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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