Analysts Anticipate Delta Air Lines, Inc. (DAL) Will Announce Quarterly Sales of $11.08 Billion
Equities analysts expect Delta Air Lines, Inc. (NYSE:DAL) to report $11.08 billion in sales for the current fiscal quarter, according to Zacks. Five analysts have issued estimates for Delta Air Lines’ earnings, with estimates ranging from $11.02 billion to $11.21 billion. Delta Air Lines posted sales of $10.48 billion during the same quarter last year, which suggests a positive year over year growth rate of 5.7%. The firm is scheduled to report its next quarterly earnings report on Thursday, October 12th.
According to Zacks, analysts expect that Delta Air Lines will report full-year sales of $11.08 billion for the current fiscal year, with estimates ranging from $40.56 billion to $40.98 billion. For the next financial year, analysts expect that the business will post sales of $42.18 billion per share, with estimates ranging from $41.32 billion to $42.57 billion. Zacks’ sales calculations are an average based on a survey of sell-side analysts that cover Delta Air Lines.
Delta Air Lines (NYSE:DAL) last posted its earnings results on Thursday, July 13th. The transportation company reported $1.64 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.66 by ($0.02). Delta Air Lines had a net margin of 9.30% and a return on equity of 28.33%. The company had revenue of $10.79 billion during the quarter, compared to the consensus estimate of $10.81 billion. During the same quarter in the prior year, the business earned $1.47 EPS. The firm’s revenue for the quarter was up 3.3% compared to the same quarter last year.
Several research firms recently weighed in on DAL. Barclays PLC began coverage on Delta Air Lines in a research note on Thursday, August 10th. They issued an “overweight” rating and a $70.00 price target on the stock. BidaskClub downgraded Delta Air Lines from a “hold” rating to a “sell” rating in a research note on Friday, August 4th. Morgan Stanley reiterated an “overweight” rating on shares of Delta Air Lines in a research note on Tuesday, September 12th. Wolfe Research upgraded Delta Air Lines from a “market perform” rating to an “outperform” rating in a research note on Friday, August 18th. They noted that the move was a valuation call. Finally, Vetr downgraded Delta Air Lines from a “strong-buy” rating to a “buy” rating and set a $55.68 target price on the stock. in a research note on Thursday, June 1st. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the stock. Delta Air Lines currently has an average rating of “Buy” and an average target price of $61.97.
Delta Air Lines (NYSE:DAL) opened at 48.25 on Friday. The stock has a 50 day moving average price of $48.42 and a 200-day moving average price of $49.15. The company has a market cap of $35.13 billion, a price-to-earnings ratio of 9.56 and a beta of 1.25. Delta Air Lines has a 12-month low of $36.85 and a 12-month high of $55.75.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 13th. Stockholders of record on Wednesday, August 23rd were given a dividend of $0.305 per share. This is a positive change from Delta Air Lines’s previous quarterly dividend of $0.20. The ex-dividend date was Monday, August 21st. This represents a $1.22 dividend on an annualized basis and a dividend yield of 2.53%. Delta Air Lines’s dividend payout ratio (DPR) is presently 24.25%.
In other news, Director George N. Mattson acquired 6,000 shares of the business’s stock in a transaction dated Thursday, August 24th. The stock was purchased at an average price of $45.44 per share, for a total transaction of $272,640.00. Following the completion of the transaction, the director now directly owns 61,510 shares in the company, valued at approximately $2,795,014.40. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, President Glen W. Hauenstein sold 67,000 shares of the firm’s stock in a transaction dated Friday, July 14th. The shares were sold at an average price of $55.15, for a total value of $3,695,050.00. Following the transaction, the president now owns 239,418 shares of the company’s stock, valued at approximately $13,203,902.70. The disclosure for this sale can be found here. In the last 90 days, insiders have bought 267,000 shares of company stock valued at $293,520 and have sold 75,700 shares valued at $4,171,150. Company insiders own 0.37% of the company’s stock.
Several institutional investors have recently modified their holdings of DAL. World Asset Management Inc grew its position in shares of Delta Air Lines by 16.5% during the first quarter. World Asset Management Inc now owns 78,435 shares of the transportation company’s stock valued at $3,605,000 after purchasing an additional 11,123 shares in the last quarter. UBS Asset Management Americas Inc. grew its position in Delta Air Lines by 47.6% in the first quarter. UBS Asset Management Americas Inc. now owns 1,385,205 shares of the transportation company’s stock worth $63,664,000 after acquiring an additional 446,573 shares in the last quarter. British Columbia Investment Management Corp grew its position in Delta Air Lines by 39.3% in the first quarter. British Columbia Investment Management Corp now owns 213,985 shares of the transportation company’s stock worth $9,835,000 after acquiring an additional 60,334 shares in the last quarter. Teza Capital Management LLC purchased a new position in Delta Air Lines in the first quarter worth about $654,000. Finally, Karp Capital Management Corp purchased a new position in Delta Air Lines in the first quarter worth about $12,818,000. Hedge funds and other institutional investors own 86.49% of the company’s stock.
About Delta Air Lines
Delta Air Lines, Inc provides scheduled air transportation for passengers and cargo throughout the United States and across the world. The Company’s segments include Airline and Refinery. The Company’s route network is centered around a system of hub, international gateway and airports that the Company operates in Amsterdam, Atlanta, Boston, Detroit, London-Heathrow, Los Angeles, Minneapolis-St.
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