Delta Air Lines (NYSE:DAL) Issues Q3 2024 Earnings Guidance

Delta Air Lines (NYSE:DAL) issued an update on its third quarter 2024 earnings guidance on Thursday morning. The company provided EPS guidance of 1.700-2.000 for the period, compared to the consensus EPS estimate of 2.060. The company issued revenue guidance of $15.8 billion-$16.1 billion, compared to the consensus revenue estimate of $15.4 billion. Delta Air Lines also updated its FY 2024 guidance to 6.000-7.000 EPS.

Analysts Set New Price Targets

DAL has been the topic of a number of analyst reports. Morgan Stanley reiterated an overweight rating and issued a $85.00 price target on shares of Delta Air Lines in a research report on Thursday, April 11th. HSBC assumed coverage on shares of Delta Air Lines in a research report on Monday, May 13th. They set a buy rating and a $72.80 target price for the company. Bank of America boosted their price target 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. TD Cowen raised their price objective on shares of Delta Air Lines from $55.00 to $61.00 and gave the stock a buy rating in a report on Tuesday, July 2nd. Finally, UBS Group started coverage on shares of Delta Air Lines in a research note on Wednesday, March 20th. They issued a buy rating and a $59.00 target price for the company. One research analyst has rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of Buy and a consensus target price of $60.36.

Delta Air Lines Trading Down 3.0 %

DAL stock opened at $43.62 on Friday. 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 twelve month low of $30.60 and a twelve month high of $53.86. The company has a market cap of $28.15 billion, a P/E ratio of 6.28, a PEG ratio of 0.76 and a beta of 1.35. The business has a fifty day moving average of $49.91 and a 200-day moving average of $45.53.

Delta Air Lines (NYSE:DAL) last announced its quarterly earnings data on Thursday, July 11th. The transportation company reported $2.36 earnings per share for the quarter, missing the consensus estimate of $2.37 by ($0.01). The firm 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 37.64% and a net margin of 7.46%. The business’s revenue for the quarter was up 5.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.68 earnings per share. As a group, equities research analysts expect that Delta Air Lines will post 6.36 EPS for the current year.

Delta Air Lines Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 20th. Shareholders of record on Tuesday, July 30th will be paid a $0.15 dividend. The ex-dividend date is Tuesday, July 30th. This is a boost from Delta Air Lines’s previous quarterly dividend of $0.10. This represents a $0.60 dividend on an annualized basis and a yield of 1.38%. Delta Air Lines’s dividend payout ratio (DPR) is presently 5.76%.

Insider Buying and Selling at Delta Air Lines

In other news, President Glen W. Hauenstein sold 100,000 shares of the firm’s stock in a transaction on Monday, April 22nd. The stock was sold at an average price of $49.05, for a total value of $4,905,000.00. Following the transaction, the president now directly owns 217,584 shares in the company, valued at approximately $10,672,495.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Delta Air Lines news, President Glen W. Hauenstein sold 100,000 shares of the firm’s stock in a transaction dated Monday, April 22nd. The stock was sold at an average price of $49.05, for a total transaction of $4,905,000.00. Following the transaction, the president now owns 217,584 shares in the company, valued at $10,672,495.20. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Alain Bellemare sold 24,073 shares of the business’s stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $48.86, for a total value of $1,176,206.78. Following the transaction, the executive vice president now owns 141,451 shares of the company’s stock, valued at $6,911,295.86. The disclosure for this sale can be found here. In the last 90 days, insiders sold 178,919 shares of company stock worth $8,834,653. Insiders own 0.96% of the company’s stock.

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.