Delta Air Lines (NYSE:DAL) Releases FY24 Earnings Guidance

Delta Air Lines (NYSE:DAL) updated its FY24 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $6.00-7.00 for the period, compared to the consensus estimate of $6.58. Delta Air Lines also updated its FY 2024 guidance to 6.000-7.000 EPS.

Delta Air Lines Price Performance

NYSE DAL traded down $1.83 during trading hours on Thursday, reaching $45.03. The company’s stock had a trading volume of 33,837,314 shares, compared to its average volume of 9,653,534. The company has a quick ratio of 0.36, a current ratio of 0.41 and a debt-to-equity ratio of 1.48. Delta Air Lines has a 1 year low of $30.60 and a 1 year high of $53.86. The firm’s 50-day moving average price is $50.19 and its 200-day moving average price is $45.48. The company has a market capitalization of $29.06 billion, a price-to-earnings ratio of 5.53, a PEG ratio of 0.69 and a beta of 1.35.

Delta Air Lines (NYSE:DAL) last issued its earnings results on Thursday, July 11th. The transportation company reported $2.36 earnings per share for the quarter, missing analysts’ consensus estimates of $2.37 by ($0.01). The company had revenue of $15.41 billion for the quarter, compared to the consensus estimate of $15.45 billion. Delta Air Lines had a return on equity of 41.89% and a net margin of 8.48%. Delta Air Lines’s revenue was up 5.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.68 EPS. On average, equities research analysts predict that Delta Air Lines will post 6.55 EPS for the current fiscal year.

Delta Air Lines Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 20th. Investors of record on Tuesday, July 30th will be given a $0.15 dividend. This is an increase from Delta Air Lines’s previous quarterly dividend of $0.10. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.33%. The ex-dividend date of this dividend is Tuesday, July 30th. Delta Air Lines’s payout ratio is currently 5.14%.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on DAL shares. Susquehanna upped their price objective on Delta Air Lines from $47.00 to $54.00 and gave the stock a positive rating in a report on Tuesday, April 9th. Citigroup increased their price objective on shares of Delta Air Lines from $55.00 to $65.00 and gave the company a buy rating in a research report on Wednesday, May 29th. UBS Group assumed coverage on shares of Delta Air Lines in a research note on Wednesday, March 20th. They issued a buy rating and a $59.00 price objective for the company. Bank of America upped their target price on shares of Delta Air Lines from $53.00 to $55.00 and gave the company a buy rating in a research report on Thursday, April 11th. Finally, HSBC began coverage on Delta Air Lines in a research report on Monday, May 13th. They issued a buy rating and a $72.80 price target for the company. One analyst has rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Delta Air Lines presently has a consensus rating of Buy and an average target price of $60.30.

Insider Activity at Delta Air Lines

In other news, EVP Joanne D. Smith sold 4,846 shares of the firm’s stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $52.30, for a total transaction of $253,445.80. Following the transaction, the executive vice president now directly owns 112,421 shares of the company’s stock, valued at $5,879,618.30. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, President Glen W. Hauenstein sold 100,000 shares of the business’s stock in a transaction dated Monday, April 22nd. The shares were sold at an average price of $49.05, for a total value of $4,905,000.00. Following the completion of the sale, the president now owns 217,584 shares in the company, valued at approximately $10,672,495.20. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Joanne D. Smith sold 4,846 shares of the company’s stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $52.30, for a total transaction of $253,445.80. Following the completion of the sale, the executive vice president now directly owns 112,421 shares of the company’s stock, valued at approximately $5,879,618.30. The disclosure for this sale can be found here. Insiders sold 178,919 shares of company stock worth $8,834,653 in the last 90 days. 0.96% of the stock is owned by corporate insiders.

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 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, Bogota, Lima, Mexico City, London-Heathrow, Paris-Charles de Gaulle, Sao Paulo, Seoul-Incheon, and Tokyo.