Brokerages Expect Delta Air Lines, Inc. (DAL) Will Post Quarterly Sales of $11.04 Billion
Equities analysts forecast that Delta Air Lines, Inc. (NYSE:DAL) will post $11.04 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Four analysts have made estimates for Delta Air Lines’ earnings, with the highest sales estimate coming in at $11.08 billion and the lowest estimate coming in at $11.02 billion. Delta Air Lines posted sales of $10.48 billion in the same quarter last year, which suggests a positive year-over-year growth rate of 5.3%. The business is expected to announce its next quarterly earnings results before the market opens on Wednesday, October 11th.
According to Zacks, analysts expect that Delta Air Lines will report full year sales of $11.04 billion for the current fiscal year, with estimates ranging from $40.52 billion to $40.82 billion. For the next year, analysts expect that the company will report sales of $42.02 billion per share, with estimates ranging from $41.49 billion to $42.54 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that follow Delta Air Lines.
Delta Air Lines (NYSE:DAL) last released its quarterly earnings data on Thursday, July 13th. The transportation company reported $1.64 earnings per share (EPS) 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 for the quarter, compared to analyst estimates of $10.81 billion. During the same quarter in the prior year, the firm earned $1.47 EPS. The company’s revenue for the quarter was up 3.3% compared to the same quarter last year.
DAL has been the topic of several recent research reports. Deutsche Bank AG decreased their price objective on Delta Air Lines from $62.00 to $59.00 and set a “buy” rating for the company in a report on Wednesday, September 6th. Zacks Investment Research upgraded Delta Air Lines from a “hold” rating to a “strong-buy” rating and set a $62.00 price objective for the company in a report on Tuesday, July 4th. BidaskClub cut Delta Air Lines from a “hold” rating to a “sell” rating in a report on Friday, August 25th. Bank of America Corporation raised their price objective on Delta Air Lines from $64.00 to $71.00 and gave the company a “buy” rating in a report on Friday, June 30th. Finally, ValuEngine upgraded Delta Air Lines from a “buy” rating to a “strong-buy” rating in a report on Tuesday, June 20th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating, sixteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $61.91.
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Delta Air Lines (NYSE DAL) traded up 0.15% during mid-day trading on Friday, hitting $51.76. The stock had a trading volume of 2,758,364 shares. Delta Air Lines has a 1-year low of $37.91 and a 1-year high of $55.75. The stock has a 50 day moving average of $47.96 and a 200-day moving average of $49.22. The firm has a market cap of $37.68 billion, a P/E ratio of 10.26 and a beta of 1.24.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 13th. Stockholders of record on Wednesday, August 23rd were given a $0.305 dividend. This represents a $1.22 dividend on an annualized basis and a dividend yield of 2.36%. This is an increase from Delta Air Lines’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Monday, August 21st. Delta Air Lines’s payout ratio is presently 24.25%.
In other Delta Air Lines news, EVP Joanne D. Smith sold 3,700 shares of the business’s stock in a transaction that occurred on Wednesday, July 19th. The shares were sold at an average price of $54.00, for a total transaction of $199,800.00. Following the completion of the transaction, the executive vice president now directly owns 77,223 shares in the company, valued at $4,170,042. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, President Glen W. Hauenstein sold 67,000 shares of the business’s stock in a transaction that occurred on Friday, July 14th. The shares were sold at an average price of $55.15, for a total transaction of $3,695,050.00. Following the transaction, the president now owns 239,418 shares of the company’s stock, valued at $13,203,902.70. The disclosure for this sale can be found here. Over the last quarter, insiders bought 141,000 shares of company stock valued at $283,440 and sold 75,700 shares valued at $4,171,150. 0.37% of the stock is currently owned by insiders.
Institutional investors and hedge funds have recently made changes to their positions in the business. State of Tennessee Treasury Department grew its stake in shares of Delta Air Lines by 78.0% during the second quarter. State of Tennessee Treasury Department now owns 713,955 shares of the transportation company’s stock worth $38,368,000 after buying an additional 312,863 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Delta Air Lines by 57.0% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 116,036 shares of the transportation company’s stock worth $6,236,000 after buying an additional 42,150 shares during the last quarter. US Bancorp DE grew its stake in shares of Delta Air Lines by 15.1% during the second quarter. US Bancorp DE now owns 1,381,854 shares of the transportation company’s stock worth $74,262,000 after buying an additional 181,027 shares during the last quarter. Wesbanco Bank Inc. grew its stake in shares of Delta Air Lines by 2.7% during the second quarter. Wesbanco Bank Inc. now owns 55,360 shares of the transportation company’s stock worth $2,975,000 after buying an additional 1,475 shares during the last quarter. Finally, Airain ltd grew its stake in shares of Delta Air Lines by 15.5% during the second quarter. Airain ltd now owns 152,447 shares of the transportation company’s stock worth $8,193,000 after buying an additional 20,457 shares during the last quarter. Institutional investors and hedge funds own 86.26% 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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