Earnings Preview: What To Expect From Delta Air Lines On Wednesday

7:45 AM ET While many U.S. diversified equity funds are extended from recent buy points, two niche plays may be getting close to…

Delta’s investor update on Oct. 3 included a moderately positive view of third-quarter revenue trends that was enough to turn the tide in what has generally been a beaten-down sector ever since Spirit Airlines Inc. (SAVE) executives said on a July earnings call that industry fare cutting was widespread.

*Real-time prices by Bats®. Volume delayed. Real-time quote and/or trade prices are not sourced from all markets.As for Delta’s third-quarter earnings, Cowen & Co. analyst Helane Becker reiterated an outperform on the stock in a report issued Thursday. She has a $58 price target. Delta shares closed Friday at $52.01.

U.S. stock futures are pointing to a softer open for Wall Street on Wednesday, as investors await the release of the minutes from the Federal Reserve’s meeting in September.

Wolfe Research analyst Hunter Keay said Delta’s forecast last week indicated that “pricing held in pretty well in September and it isn’t unreasonable to expect it’s continuing into (Q4), too.”LUV) , up 17%, leads the industry. American is up 10% and Delta is up 6%. Shares in the remaining five major carriers are down for the year, ranging between a 2% decline at Hawaiian Holdings Inc. (HA) and a 39% decline for Spirit.In a report issued Thursday, Oct. 5, Macquarie analyst Susan Donofrio said, “Delta’s 3Q guidance update on 10/3 was the most meaningful data point of the week, with the group as a whole rallying significantly on the day.

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