Delta Air Lines, Inc. (NYSE:DAL) Expected to Post Quarterly Sales of $12.61 Billion

Equities research analysts expect Delta Air Lines, Inc. (NYSE:DAL) to report sales of $12.61 billion for the current quarter, Zacks reports. Nine analysts have issued estimates for Delta Air Lines’ earnings, with estimates ranging from $12.42 billion to $12.75 billion. Delta Air Lines posted sales of $11.95 billion during the same quarter last year, which suggests a positive year-over-year growth rate of 5.5%. The company is scheduled to issue its next earnings report on Thursday, October 10th.

On average, analysts expect that Delta Air Lines will report full year sales of $46.82 billion for the current fiscal year, with estimates ranging from $46.45 billion to $47.20 billion. For the next year, analysts forecast that the company will post sales of $49.03 billion, with estimates ranging from $48.25 billion to $49.92 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that follow Delta Air Lines.

Delta Air Lines (NYSE:DAL) last announced its quarterly earnings results on Thursday, July 11th. The transportation company reported $2.35 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.28 by $0.07. The company had revenue of $12.54 billion for the quarter, compared to analysts’ expectations of $12.49 billion. Delta Air Lines had a net margin of 9.85% and a return on equity of 31.68%. Delta Air Lines’s revenue was up 6.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.77 EPS.

A number of equities analysts recently issued reports on the stock. Stephens reiterated an “overweight” rating and issued a $70.00 price target on shares of Delta Air Lines in a research note on Wednesday, July 3rd. Morgan Stanley boosted their target price on Delta Air Lines from $61.00 to $65.00 and gave the stock an “equal weight” rating in a research report on Friday, July 12th. Buckingham Research boosted their target price on Delta Air Lines from $71.00 to $74.00 and gave the stock a “buy” rating in a research report on Friday, July 12th. Cowen reissued an “outperform” rating and issued a $69.00 target price (up previously from $67.00) on shares of Delta Air Lines in a research report on Thursday, July 11th. Finally, Raymond James boosted their target price on Delta Air Lines from $68.00 to $70.00 and gave the stock an “outperform” rating in a research report on Friday, July 12th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and ten have issued a buy rating to the company’s stock. Delta Air Lines has an average rating of “Buy” and an average price target of $67.56.

Shares of Delta Air Lines stock opened at $56.20 on Tuesday. The stock has a market cap of $37.69 billion, a price-to-earnings ratio of 9.95, a PEG ratio of 0.46 and a beta of 1.18. The firm’s 50-day moving average is $60.09 and its 200 day moving average is $55.55. Delta Air Lines has a 1 year low of $45.08 and a 1 year high of $63.44. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.34 and a quick ratio of 0.29.

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Thursday, July 25th were given a dividend of $0.4025 per share. The ex-dividend date was Wednesday, July 24th. This represents a $1.61 annualized dividend and a dividend yield of 2.86%. This is a positive change from Delta Air Lines’s previous quarterly dividend of $0.35. Delta Air Lines’s dividend payout ratio is presently 28.50%.

In other news, SVP William C. Carroll sold 6,384 shares of the company’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $61.96, for a total transaction of $395,552.64. Following the completion of the sale, the senior vice president now owns 23,010 shares of the company’s stock, valued at approximately $1,425,699.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Steven M. Sear sold 8,993 shares of the company’s stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $53.27, for a total transaction of $479,057.11. Following the sale, the insider now directly owns 76,150 shares of the company’s stock, valued at approximately $4,056,510.50. The disclosure for this sale can be found here. Insiders have sold a total of 92,278 shares of company stock valued at $5,698,438 in the last ninety days. Insiders own 0.47% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in DAL. Glassman Wealth Services increased its position in shares of Delta Air Lines by 1,153.5% during the 1st quarter. Glassman Wealth Services now owns 539 shares of the transportation company’s stock valued at $28,000 after purchasing an additional 496 shares during the last quarter. Motco increased its holdings in Delta Air Lines by 1,716.7% in the 1st quarter. Motco now owns 654 shares of the transportation company’s stock worth $34,000 after acquiring an additional 618 shares in the last quarter. Carroll Financial Associates Inc. increased its holdings in Delta Air Lines by 105.6% in the 2nd quarter. Carroll Financial Associates Inc. now owns 623 shares of the transportation company’s stock worth $35,000 after acquiring an additional 320 shares in the last quarter. Cornerstone Advisors Inc. increased its holdings in Delta Air Lines by 36.0% in the 2nd quarter. Cornerstone Advisors Inc. now owns 620 shares of the transportation company’s stock worth $35,000 after acquiring an additional 164 shares in the last quarter. Finally, Avestar Capital LLC increased its holdings in Delta Air Lines by 3,385.0% in the 2nd quarter. Avestar Capital LLC now owns 697 shares of the transportation company’s stock worth $37,000 after acquiring an additional 677 shares in the last quarter. 85.54% of the stock is owned by hedge funds and other institutional investors.

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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Earnings History and Estimates for Delta Air Lines (NYSE:DAL)

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