Delta Air Lines, Inc. (NYSE:DAL) to Post Q2 2022 Earnings of $1.70 Per Share, Seaport Res Ptn Forecasts

Delta Air Lines, Inc. (NYSE:DALGet Rating) – Research analysts at Seaport Res Ptn lifted their Q2 2022 EPS estimates for shares of Delta Air Lines in a research note issued on Wednesday, June 15th. Seaport Res Ptn analyst D. Mckenzie now expects that the transportation company will post earnings of $1.70 per share for the quarter, up from their prior estimate of $1.50. The consensus estimate for Delta Air Lines’ current full-year earnings is $3.00 per share.

Delta Air Lines (NYSE:DALGet Rating) last released its earnings results on Wednesday, April 13th. The transportation company reported ($1.23) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.28) by $0.05. Delta Air Lines had a net margin of 1.47% and a negative return on equity of 41.80%. The company had revenue of $9.35 billion for the quarter, compared to analysts’ expectations of $8.99 billion. During the same quarter in the previous year, the company earned ($3.55) EPS. Delta Air Lines’s revenue for the quarter was up 125.3% on a year-over-year basis.

Several other brokerages have also recently commented on DAL. Morgan Stanley boosted their price target on shares of Delta Air Lines from $60.00 to $65.00 and gave the stock an “overweight” rating in a research note on Thursday, April 14th. Susquehanna Bancshares boosted their price target on shares of Delta Air Lines from $45.00 to $47.00 in a research note on Thursday, April 14th. UBS Group upgraded shares of Delta Air Lines from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $44.00 to $53.00 in a research note on Monday, April 18th. Barclays upgraded shares of Delta Air Lines from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $42.00 to $60.00 in a research note on Thursday, April 14th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Delta Air Lines from $69.00 to $70.00 and gave the stock an “overweight” rating in a research note on Friday, April 22nd. Four equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Delta Air Lines has a consensus rating of “Buy” and a consensus price target of $52.47.

DAL opened at $29.58 on Friday. The stock has a market cap of $18.96 billion, a price-to-earnings ratio of 37.44 and a beta of 1.05. Delta Air Lines has a fifty-two week low of $29.21 and a fifty-two week high of $46.27. The company has a debt-to-equity ratio of 8.17, a quick ratio of 0.60 and a current ratio of 0.65. The firm’s fifty day moving average is $39.71 and its 200 day moving average is $39.01.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in shares of Delta Air Lines by 1.9% in the 1st quarter. Vanguard Group Inc. now owns 68,234,306 shares of the transportation company’s stock worth $2,700,032,000 after purchasing an additional 1,267,578 shares during the period. State Street Corp lifted its position in shares of Delta Air Lines by 1.5% in the 4th quarter. State Street Corp now owns 22,075,797 shares of the transportation company’s stock worth $862,722,000 after purchasing an additional 336,057 shares during the period. Neuberger Berman Group LLC lifted its position in shares of Delta Air Lines by 27.0% in the 1st quarter. Neuberger Berman Group LLC now owns 11,402,177 shares of the transportation company’s stock worth $451,155,000 after purchasing an additional 2,423,615 shares during the period. Geode Capital Management LLC lifted its position in shares of Delta Air Lines by 3.2% in the 4th quarter. Geode Capital Management LLC now owns 11,317,760 shares of the transportation company’s stock worth $441,460,000 after purchasing an additional 347,361 shares during the period. Finally, U S Global Investors Inc. lifted its position in shares of Delta Air Lines by 6.6% in the 1st quarter. U S Global Investors Inc. now owns 8,991,349 shares of the transportation company’s stock worth $355,788,000 after purchasing an additional 552,758 shares during the period. 63.24% of the stock is owned by hedge funds and other institutional investors.

In other Delta Air Lines news, CEO Edward H. Bastian sold 27,664 shares of the company’s stock in a transaction dated Monday, May 23rd. The shares were sold at an average price of $39.55, for a total value of $1,094,111.20. Following the transaction, the chief executive officer now directly owns 446,712 shares in the company, valued at approximately $17,667,459.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Joanne D. Smith sold 6,098 shares of the company’s stock in a transaction dated Thursday, April 14th. The stock was sold at an average price of $41.99, for a total transaction of $256,055.02. Following the completion of the transaction, the executive vice president now owns 129,881 shares in the company, valued at $5,453,703.19. The disclosure for this sale can be found here. Insiders have sold a total of 73,270 shares of company stock worth $3,035,835 over the last quarter. 0.63% of the stock is currently owned by insiders.

About Delta Air Lines (Get Rating)

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, Mexico City, London-Heathrow, Paris-Charles de Gaulle, and Seoul-Incheon.

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

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