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

Share on StockTwits

Brokerages forecast that Delta Air Lines, Inc. (NYSE:DAL) will announce sales of $3.15 billion for the current quarter, Zacks Investment Research reports. Ten analysts have provided estimates for Delta Air Lines’ earnings, with estimates ranging from $2.82 billion to $3.71 billion. Delta Air Lines reported sales of $12.56 billion in the same quarter last year, which indicates a negative year-over-year growth rate of 74.9%. The firm is scheduled to announce its next quarterly earnings report 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 financial year, with estimates ranging from $16.92 billion to $19.34 billion. For the next fiscal year, analysts forecast that the company will post sales of $31.40 billion, with estimates ranging from $24.43 billion to $37.13 billion. Zacks’ sales averages are a mean average based on a survey of research analysts that cover Delta Air Lines.

Delta Air Lines (NYSE:DAL) last announced its quarterly earnings data on Tuesday, July 14th. The transportation company reported ($4.43) EPS for the quarter, missing analysts’ consensus estimates of ($4.24) by ($0.19). The company had revenue of $1.47 billion for 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 firm’s revenue for the quarter was down 88.3% on a year-over-year basis. During the same period last year, the firm earned $2.35 earnings per share.

A number of equities analysts have commented on the stock. Goldman Sachs Group lifted their price objective on shares of Delta Air Lines from $33.00 to $38.00 and gave the stock a “neutral” rating in a research report on Monday, June 29th. Seaport Global Securities initiated coverage on shares of Delta Air Lines in a research report on Tuesday. They set a “buy” rating and a $43.00 price objective for the company. ValuEngine raised shares of Delta Air Lines from a “buy” rating to a “strong-buy” rating in a research report on Thursday, August 6th. Cowen initiated coverage on shares of Delta Air Lines in a research report on Friday, May 29th. They issued a “buy” rating and a $33.00 target price for the company. Finally, TheStreet cut shares of Delta Air Lines from a “c” rating to a “d” rating in a research report on Tuesday, July 14th. Eleven investment 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 presently has an average rating of “Buy” and a consensus target price of $47.21.

NYSE:DAL traded up $1.06 on Friday, hitting $34.57. The company’s stock had a trading volume of 25,941,239 shares, compared to its average volume of 35,159,301. Delta Air Lines has a one year low of $17.51 and a one year high of $62.48. The firm has a market capitalization of $22.05 billion, a P/E ratio of -5.93 and a beta of 1.32. The stock has a fifty day moving average of $29.20 and a two-hundred day moving average of $28.35. The company has a current ratio of 0.94, a quick ratio of 0.91 and a debt-to-equity ratio of 2.23.

In other news, EVP Steven M. Sear sold 14,127 shares of the firm’s stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $28.98, for a total transaction of $409,400.46. Following the completion of the sale, the executive vice president now owns 83,938 shares of the company’s stock, valued at approximately $2,432,523.24. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, 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 transaction of $792,500.00. Insiders sold 57,127 shares of company stock valued at $1,723,900 in the last ninety days. 0.63% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Cerebellum GP LLC acquired a new position in shares of Delta Air Lines during the second quarter valued at about $49,000. Campbell Wealth Management acquired a new position in shares of Delta Air Lines during the second quarter valued at about $25,000. Bedel Financial Consulting Inc. raised its holdings in shares of Delta Air Lines by 143.6% during the second quarter. Bedel Financial Consulting Inc. now owns 899 shares of the transportation company’s stock valued at $25,000 after purchasing an additional 530 shares during the period. Sandy Spring Bank acquired a new position in shares of Delta Air Lines during the second quarter valued at about $25,000. Finally, Bourgeon Capital Management LLC raised its holdings in shares of Delta Air Lines by 400.0% during the second quarter. Bourgeon Capital Management LLC now owns 1,000 shares of the transportation company’s stock valued at $28,000 after purchasing an additional 800 shares during the period. Hedge funds and other institutional investors own 58.31% of the company’s stock.

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.

Featured Article: Strike Price

Get a free copy of the Zacks research report on Delta Air Lines (DAL)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Delta Air Lines Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Delta Air Lines and related companies with MarketBeat.com's FREE daily email newsletter.