Zacks: Brokerages Anticipate Delta Air Lines, Inc. (NYSE:DAL) Will Announce Earnings of -$2.97 Per Share

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Brokerages expect Delta Air Lines, Inc. (NYSE:DAL) to report earnings per share of ($2.97) for the current fiscal quarter, Zacks reports. Ten analysts have issued estimates for Delta Air Lines’ earnings, with the lowest EPS estimate coming in at ($4.13) and the highest estimate coming in at ($2.24). Delta Air Lines reported earnings per share of $2.32 during the same quarter last year, which indicates a negative year-over-year growth rate of 228%. The company is expected to issue its next earnings results on Thursday, October 8th.

According to Zacks, 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 financial year, analysts forecast that the business will post earnings of $1.17 per share, with EPS estimates ranging from ($5.48) to $4.38. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side research firms that follow Delta Air Lines.

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

DAL has been the subject of a number of recent analyst reports. TheStreet cut Delta Air Lines from a “c” rating to a “d” rating in a research report on Tuesday, July 14th. Zacks Investment Research raised Delta Air Lines from a “sell” rating to a “hold” rating and set a $31.00 price objective on the stock in a report on Wednesday, June 24th. Goldman Sachs Group lifted 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. Berenberg Bank cut shares of Delta Air Lines from a “buy” rating to a “hold” rating and set a $32.00 target price for the company. in a research report on Wednesday, September 2nd. Finally, Citigroup upped their price target on shares of Delta Air Lines from $30.00 to $38.00 and gave the company a “buy” rating in a research note on Monday, June 15th. Eleven investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $47.21.

Shares of DAL traded up $1.06 during mid-day trading on Wednesday, reaching $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 1-year low of $17.51 and a 1-year high of $62.48. The stock has a market cap of $22.05 billion, a P/E ratio of -5.93 and a beta of 1.32. The business has a 50-day simple moving average of $29.20 and a two-hundred day simple 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 Delta Air Lines news, CFO Paul A. Jacobson sold 25,000 shares of the stock in a transaction dated Friday, August 28th. The shares were sold at an average price of $31.70, for a total transaction of $792,500.00. Also, 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 in the company, valued at $2,432,523.24. The disclosure for this sale can be found here. Insiders have sold 57,127 shares of company stock worth $1,723,900 over the last quarter. Corporate insiders own 0.63% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of DAL. Bessemer Group Inc. boosted its stake in shares of Delta Air Lines by 79.7% in the 1st quarter. Bessemer Group Inc. now owns 12,401 shares of the transportation company’s stock valued at $354,000 after purchasing an additional 5,501 shares in the last quarter. Forsta AP Fonden acquired a new stake in shares of Delta Air Lines in the 1st quarter valued at approximately $1,247,000. GWM Advisors LLC boosted its stake in shares of Delta Air Lines by 31.5% in the 1st quarter. GWM Advisors LLC now owns 10,482 shares of the transportation company’s stock valued at $299,000 after purchasing an additional 2,512 shares in the last quarter. Strategic Wealth Advisors Group LLC acquired a new stake in shares of Delta Air Lines in the 1st quarter valued at approximately $336,000. Finally, Merit Financial Group LLC raised its holdings in Delta Air Lines by 12.5% in the 1st quarter. Merit Financial Group LLC now owns 10,865 shares of the transportation company’s stock valued at $310,000 after buying an additional 1,208 shares during the last quarter. 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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