Brokerages expect that Delta Air Lines, Inc. (NYSE:DAL) will post sales of $12.62 billion for the current quarter, Zacks reports. Nine analysts have provided estimates for Delta Air Lines’ earnings, with estimates ranging from $12.42 billion to $12.75 billion. Delta Air Lines posted sales of $11.95 billion during the same quarter last year, which suggests a positive year over year growth rate of 5.6%. The firm is scheduled to announce its next quarterly earnings results on Thursday, October 10th.
According to Zacks, analysts expect that Delta Air Lines will report full year sales of $46.82 billion for the current financial year, with estimates ranging from $46.45 billion to $47.20 billion. For the next fiscal year, analysts anticipate that the firm will report sales of $48.95 billion, with estimates ranging from $48.21 billion to $49.92 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 announced its quarterly earnings data on Thursday, July 11th. The transportation company reported $2.35 EPS for the quarter, beating the Zacks’ consensus estimate of $2.28 by $0.07. The firm had revenue of $12.54 billion for the quarter, compared to analyst estimates of $12.49 billion. Delta Air Lines had a return on equity of 31.68% and a net margin of 9.85%. The business’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same period last year, the company earned $1.77 EPS.
A number of research firms have recently weighed in on DAL. Cowen reissued an “outperform” rating and set a $69.00 target price (up from $67.00) on shares of Delta Air Lines in a research report on Thursday, July 11th. ValuEngine cut shares of Delta Air Lines from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Buckingham Research raised their price objective on shares of Delta Air Lines from $71.00 to $74.00 and gave the company a “buy” rating in a research report on Friday, July 12th. Raymond James raised their price objective 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, Morgan Stanley raised their price objective on shares of Delta Air Lines from $61.00 to $65.00 and gave the company an “equal weight” rating in a research report on Friday, July 12th. Seven analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $68.12.
In other Delta Air Lines news, President Glen W. Hauenstein sold 50,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $63.03, for a total value of $3,151,500.00. Following the completion of the transaction, the president now directly owns 267,526 shares in the company, valued at $16,862,163.78. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Rahul D. Samant sold 16,559 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the executive vice president now owns 51,039 shares of the company’s stock, valued at $3,157,782.93. The disclosure for this sale can be found here. Insiders have sold 83,285 shares of company stock worth $5,219,381 in the last three months. 0.47% of the stock is currently owned by insiders.
Large investors have recently modified their holdings of the stock. Nuveen Asset Management LLC grew its position in 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 acquiring an additional 3,246,105 shares during the last quarter. AQR Capital Management LLC raised its stake in shares of Delta Air Lines by 207.3% in the 2nd quarter. AQR Capital Management LLC now owns 2,075,433 shares of the transportation company’s stock valued at $117,781,000 after purchasing an additional 1,400,082 shares during the period. Ceredex Value Advisors LLC acquired a new stake in shares of Delta Air Lines in the 1st quarter valued at about $56,756,000. Holocene Advisors LP increased its position in shares of 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. Finally, Janus Henderson Group PLC increased its position in shares of 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. Hedge funds and other institutional investors own 86.07% of the company’s stock.
NYSE:DAL traded down $1.62 on Wednesday, hitting $58.39. The stock had a trading volume of 1,729,499 shares, compared to its average volume of 4,431,301. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.29 and a current ratio of 0.34. The stock has a market cap of $38.65 billion, a P/E ratio of 10.33, a price-to-earnings-growth ratio of 0.47 and a beta of 1.19. Delta Air Lines has a 1 year low of $45.08 and a 1 year high of $63.44. The firm’s fifty day simple moving average is $58.77 and its two-hundred day simple moving average is $56.24.
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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