Delta Air Lines, Inc. (NYSE:DAL) Expected to Post Quarterly Sales of $8.29 Billion

Brokerages expect Delta Air Lines, Inc. (NYSE:DAL) to post sales of $8.29 billion for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for Delta Air Lines’ earnings. The lowest sales estimate is $8.14 billion and the highest is $8.47 billion. Delta Air Lines reported sales of $3.06 billion during the same quarter last year, which would suggest a positive year-over-year growth rate of 170.9%. The firm is expected to report its next quarterly earnings results on Tuesday, October 12th.

According to Zacks, analysts expect that Delta Air Lines will report full year sales of $28.41 billion for the current fiscal year, with estimates ranging from $27.38 billion to $28.82 billion. For the next year, analysts forecast that the business will report sales of $40.95 billion, with estimates ranging from $37.12 billion to $47.12 billion. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Delta Air Lines.

Delta Air Lines (NYSE:DAL) last issued its quarterly earnings results on Tuesday, July 13th. The transportation company reported ($1.07) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.38) by $0.31. The company had revenue of $7.13 billion for the quarter, compared to analysts’ expectations of $6.25 billion. Delta Air Lines had a negative return on equity of 398.80% and a negative net margin of 36.37%. The firm’s revenue for the quarter was up 385.6% on a year-over-year basis. During the same period last year, the firm earned ($4.43) EPS.

DAL has been the subject of a number of analyst reports. Jefferies Financial Group raised Delta Air Lines from a “hold” rating to a “buy” rating and lifted their price objective for the company from $50.00 to $60.00 in a report on Tuesday, June 8th. Wolfe Research upgraded shares of Delta Air Lines from an “underperform” rating to an “outperform” rating and dropped their target price for the stock from $78.00 to $55.00 in a report on Friday, June 18th. Susquehanna decreased their price objective on Delta Air Lines from $53.00 to $45.00 and set a “neutral” rating for the company in a report on Thursday, July 15th. Morgan Stanley cut their price target on shares of Delta Air Lines from $73.00 to $67.00 and set an “overweight” rating on the stock in a research report on Tuesday. Finally, Redburn Partners assumed coverage on shares of Delta Air Lines in a research note on Wednesday, August 11th. They issued a “neutral” rating for the company. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $51.45.

In other news, Director David S. Taylor bought 3,000 shares of the company’s stock in a transaction on Monday, July 19th. The shares were purchased at an average price of $38.25 per share, with a total value of $114,750.00. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director David S. Taylor bought 5,000 shares of the company’s stock in a transaction on Tuesday, August 3rd. The shares were purchased at an average cost of $39.30 per share, for a total transaction of $196,500.00. The disclosure for this purchase can be found here. Company insiders own 0.63% of the company’s stock.

Institutional investors have recently bought and sold shares of the business. Wagner Wealth Management LLC purchased a new stake in shares of Delta Air Lines during the 1st quarter worth approximately $25,000. Eagle Bay Advisors LLC purchased a new position in Delta Air Lines in the 2nd quarter valued at approximately $26,000. Albion Financial Group UT purchased a new position in Delta Air Lines in the 2nd quarter valued at approximately $28,000. Massmutual Trust Co. FSB ADV grew its stake in Delta Air Lines by 493.2% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 694 shares of the transportation company’s stock valued at $30,000 after buying an additional 577 shares in the last quarter. Finally, RMR Wealth Builders purchased a new position in Delta Air Lines in the 1st quarter valued at approximately $39,000. 63.65% of the stock is currently owned by hedge funds and other institutional investors.

Shares of DAL stock traded down $0.17 during trading hours on Friday, reaching $39.27. 154,143 shares of the company’s stock were exchanged, compared to its average volume of 12,217,085. Delta Air Lines has a fifty-two week low of $27.92 and a fifty-two week high of $52.28. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 20.83. The stock has a market capitalization of $25.13 billion, a P/E ratio of -3.76 and a beta of 1.41. The business has a fifty day moving average price of $40.39 and a 200-day moving average price of $44.47.

Delta Air Lines Company Profile

Delta Air Lines, Inc engages in the provision of scheduled air transportation for passengers and cargo. It operates through the Airline and Refinery segments. The Airline segment provides scheduled air transportation for passengers and cargo. The Refinery segment consists of jet fuel and non-jet fuel products.

Recommended Story: What is the Quick Ratio?

Get a free copy of the Zacks research report on Delta Air Lines (DAL)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

Receive News & Ratings for Delta Air Lines Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Delta Air Lines and related companies with MarketBeat.com's FREE daily email newsletter.