Delta Air Lines, Inc. (NYSE:DAL) – Equities researchers at Seaport Global Securities lowered their Q3 2021 earnings estimates for shares of Delta Air Lines in a report issued on Wednesday, January 13th. Seaport Global Securities analyst D. Mckenzie now forecasts that the transportation company will earn $0.85 per share for the quarter, down from their prior forecast of $1.00. Seaport Global Securities also issued estimates for Delta Air Lines’ Q4 2021 earnings at $0.90 EPS.
DAL has been the topic of several other research reports. Barclays boosted their price target on Delta Air Lines from $26.00 to $30.00 in a research report on Friday, September 18th. Deutsche Bank Aktiengesellschaft lowered Delta Air Lines from a “buy” rating to a “hold” rating and set a $47.00 target price on the stock. in a report on Friday, December 11th. Zacks Investment Research raised Delta Air Lines from a “sell” rating to a “hold” rating and set a $45.00 price target for the company in a report on Tuesday, December 8th. UBS Group lowered their price objective on shares of Delta Air Lines from $34.00 to $32.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 14th. Finally, Wolfe Research downgraded shares of Delta Air Lines from a “peer perform” rating to an “underperform” rating in a report on Friday, December 4th. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. Delta Air Lines presently has an average rating of “Hold” and a consensus price target of $45.71.
Delta Air Lines (NYSE:DAL) last issued its quarterly earnings results on Thursday, January 14th. The transportation company reported ($2.53) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($2.39) by ($0.14). The business had revenue of $3.97 billion for the quarter, compared to analyst estimates of $3.59 billion. Delta Air Lines had a negative return on equity of 39.69% and a negative net margin of 42.88%. The firm’s revenue for the quarter was down 65.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.70 EPS.
In related news, CEO Edward H. Bastian sold 65,000 shares of the stock in a transaction dated Thursday, October 22nd. The shares were sold at an average price of $33.58, for a total value of $2,182,700.00. Following the sale, the chief executive officer now directly owns 341,060 shares of the company’s stock, valued at approximately $11,452,794.80. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Paul A. Jacobson sold 125,000 shares of the stock in a transaction dated Monday, November 9th. The shares were sold at an average price of $35.84, for a total transaction of $4,480,000.00. Following the completion of the sale, the chief financial officer now directly owns 303,478 shares in the company, valued at $10,876,651.52. The disclosure for this sale can be found here. In the last 90 days, insiders sold 255,487 shares of company stock worth $9,077,952. Insiders own 0.63% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the business. IFM Investors Pty Ltd grew its position in shares of Delta Air Lines by 10.0% in the fourth quarter. IFM Investors Pty Ltd now owns 15,655 shares of the transportation company’s stock valued at $629,000 after purchasing an additional 1,419 shares during the last quarter. Campbell Capital Management Inc. raised its position in shares of Delta Air Lines by 276.4% during the 4th quarter. Campbell Capital Management Inc. now owns 143,050 shares of the transportation company’s stock worth $5,765,000 after purchasing an additional 105,050 shares during the last quarter. Redpoint Investment Management Pty Ltd purchased a new stake in Delta Air Lines in the 4th quarter valued at approximately $224,000. Livingston Group Asset Management CO operating as Southport Capital Management acquired a new stake in Delta Air Lines during the 4th quarter valued at $313,000. Finally, Sowell Financial Services LLC increased its position in Delta Air Lines by 4.1% during the fourth quarter. Sowell Financial Services LLC now owns 22,974 shares of the transportation company’s stock worth $924,000 after buying an additional 906 shares in the last quarter. 55.53% of the stock is currently owned by institutional investors.
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 domestic network centered on core hubs in Atlanta, Minneapolis-St. Paul, Detroit, and Salt Lake City, as well as coastal hub positions in Boston, Los Angeles, New York-LaGuardia, New York-JFK, and Seattle; and international network centered on hubs and market presence in Amsterdam, London-Heathrow, Mexico City, Paris-Charles de Gaulle, and Seoul-Incheon.
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