Equities research analysts expect Delta Air Lines, Inc. (NYSE:DAL) to announce $12.55 billion in sales for the current fiscal quarter, Zacks reports. Nine analysts have issued estimates for Delta Air Lines’ earnings. The highest sales estimate is $12.73 billion and the lowest is $12.42 billion. Delta Air Lines reported sales of $11.95 billion in the same quarter last year, which indicates a positive year over year growth rate of 5%. The business is expected to report its next quarterly earnings report on Thursday, October 10th.
On average, analysts expect that Delta Air Lines will report full-year sales of $46.75 billion for the current financial year, with estimates ranging from $46.45 billion to $46.99 billion. For the next year, analysts anticipate that the company will report sales of $48.85 billion, with estimates ranging from $48.25 billion to $49.52 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that that provide coverage for Delta Air Lines.
Delta Air Lines (NYSE:DAL) last announced its quarterly earnings data on Thursday, July 11th. The transportation company reported $2.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.28 by $0.07. The company had revenue of $12.54 billion for the quarter, compared to the consensus estimate of $12.49 billion. Delta Air Lines had a return on equity of 31.68% and a net margin of 9.85%. The firm’s revenue was up 6.5% compared to the same quarter last year. During the same period in the previous year, the business earned $1.77 EPS.
A number of brokerages have recently issued reports on DAL. Morgan Stanley raised to an “overweight” rating and set a GBX 400 ($5.23) price objective on the stock in a research note on Friday. Wolfe Research set a $68.00 price objective on Delta Air Lines and gave the company a “buy” rating in a research note on Wednesday, July 3rd. Bank of America set a $152.00 price objective on Caterpillar and gave the company a “buy” rating in a research note on Thursday, April 4th. Credit Suisse Group boosted their price objective on Delta Air Lines from $37.00 to $68.00 and gave the company an “outperform” rating in a research note on Thursday, April 11th. Finally, Buckingham Research dropped their price objective on Fastenal from $31.00 to $29.00 and set a “neutral” rating on the stock in a research note on Friday. Seven equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Delta Air Lines currently has an average rating of “Buy” and a consensus target price of $67.18.
Shares of NYSE:DAL traded up $1.49 during midday trading on Friday, reaching $61.65. The company’s stock had a trading volume of 10,039,866 shares, compared to its average volume of 5,471,970. The firm has a market capitalization of $39.40 billion, a price-to-earnings ratio of 10.91, a price-to-earnings-growth ratio of 0.48 and a beta of 1.18. The company has a quick ratio of 0.29, a current ratio of 0.34 and a debt-to-equity ratio of 0.95. The stock has a 50 day moving average of $56.03. Delta Air Lines has a fifty-two week low of $45.08 and a fifty-two week high of $62.24.
The company also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Thursday, July 25th will be paid a dividend of $0.4025 per share. This is an increase from Delta Air Lines’s previous quarterly dividend of $0.35. This represents a $1.61 dividend on an annualized basis and a yield of 2.61%. Delta Air Lines’s dividend payout ratio is 24.78%.
In related news, EVP Peter W. Carter sold 25,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $58.01, for a total transaction of $1,450,250.00. Following the transaction, the executive vice president now directly owns 85,295 shares of the company’s stock, valued at approximately $4,947,962.95. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Steven M. Sear sold 8,993 shares of the company’s stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $53.27, for a total value of $479,057.11. Following the transaction, the insider now directly owns 76,150 shares in the company, valued at $4,056,510.50. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 65,003 shares of company stock worth $3,709,180. 0.47% of the stock is owned by company insiders.
Institutional investors and hedge funds have recently modified their holdings of the business. Washington Trust Bank increased its holdings in Delta Air Lines by 141.3% during the 1st quarter. Washington Trust Bank now owns 485 shares of the transportation company’s stock worth $25,000 after purchasing an additional 284 shares in the last quarter. Kistler Tiffany Companies LLC bought a new stake in Delta Air Lines during the 1st quarter worth approximately $26,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new stake in Delta Air Lines during the 1st quarter worth approximately $26,000. Northwest Wealth Management LLC bought a new stake in Delta Air Lines during the 1st quarter worth approximately $26,000. Finally, Paragon Capital Management LLC bought a new stake in Delta Air Lines during the 1st quarter worth approximately $26,000. 87.21% of the stock is owned by hedge funds and other 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 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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