Delta Air Lines (NYSE:DAL) Updates FY23 Earnings Guidance

Delta Air Lines (NYSE:DAL) updated its FY23 earnings guidance on Thursday. The company provided EPS guidance of $6.00-7.00 for the period, compared to the consensus EPS estimate of $6.60. Delta Air Lines also updated its Q3 guidance to $1.85-2.05 EPS.

Analyst Upgrades and Downgrades

Several research firms have issued reports on DAL. Evercore ISI raised their target price on Delta Air Lines from $55.00 to $60.00 and gave the stock an outperform rating in a research note on Friday, July 14th. Deutsche Bank Aktiengesellschaft boosted their price target on Delta Air Lines from $47.00 to $58.00 in a research report on Wednesday, June 28th. Jefferies Financial Group boosted their price target on Delta Air Lines from $50.00 to $60.00 in a research report on Tuesday, July 11th. Raymond James boosted their price target on Delta Air Lines from $57.00 to $58.00 and gave the stock a strong-buy rating in a research note on Friday, July 14th. Finally, Wolfe Research boosted their price target on Delta Air Lines from $51.00 to $54.00 in a research note on Friday, July 14th. Twelve research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Delta Air Lines currently has an average rating of Buy and an average target price of $56.88.

Delta Air Lines Stock Down 2.8 %

Shares of NYSE DAL opened at $39.54 on Thursday. Delta Air Lines has a 12-month low of $27.20 and a 12-month high of $49.81. The company has a market cap of $25.44 billion, a P/E ratio of 8.52, a P/E/G ratio of 0.21 and a beta of 1.30. The company has a current ratio of 0.46, a quick ratio of 0.41 and a debt-to-equity ratio of 2.24. The stock has a fifty day moving average price of $44.49 and a 200 day moving average price of $39.55.

Delta Air Lines (NYSE:DAL) last announced its quarterly earnings results on Thursday, July 13th. The transportation company reported $2.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.40 by $0.28. The firm had revenue of $15.58 billion during the quarter, compared to the consensus estimate of $14.44 billion. Delta Air Lines had a return on equity of 59.56% and a net margin of 5.36%. The firm’s quarterly revenue was up 12.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.44 EPS. Research analysts anticipate that Delta Air Lines will post 6.56 EPS for the current fiscal year.

Insider Buying and Selling at Delta Air Lines

In other Delta Air Lines news, EVP Peter W. Carter sold 7,056 shares of the company’s stock in a transaction dated Wednesday, August 2nd. The shares were sold at an average price of $45.00, for a total value of $317,520.00. Following the completion of the transaction, the executive vice president now directly owns 184,136 shares of the company’s stock, valued at approximately $8,286,120. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other Delta Air Lines news, EVP Peter W. Carter sold 17,944 shares of the firm’s stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $45.00, for a total value of $807,480.00. Following the transaction, the executive vice president now owns 166,192 shares of the company’s stock, valued at $7,478,640. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Peter W. Carter sold 7,056 shares of the firm’s stock in a transaction dated Wednesday, August 2nd. The stock was sold at an average price of $45.00, for a total transaction of $317,520.00. Following the completion of the transaction, the executive vice president now directly owns 184,136 shares in the company, valued at approximately $8,286,120. The disclosure for this sale can be found here. Insiders sold a total of 40,479 shares of company stock valued at $1,839,353 in the last ninety days. Insiders own 0.89% of the company’s stock.

Hedge Funds Weigh In On Delta Air Lines

A number of large investors have recently bought and sold shares of the business. Norges Bank acquired a new stake in shares of Delta Air Lines in the 4th quarter worth approximately $60,640,000. Amundi boosted its holdings in shares of Delta Air Lines by 79.5% in the fourth quarter. Amundi now owns 3,396,524 shares of the transportation company’s stock valued at $129,679,000 after acquiring an additional 1,504,544 shares in the last quarter. AQR Capital Management LLC boosted its holdings in shares of Delta Air Lines by 211.1% in the first quarter. AQR Capital Management LLC now owns 2,127,687 shares of the transportation company’s stock valued at $73,661,000 after acquiring an additional 1,443,810 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of Delta Air Lines by 1.9% in the first quarter. Vanguard Group Inc. now owns 68,234,306 shares of the transportation company’s stock valued at $2,700,032,000 after acquiring an additional 1,267,578 shares in the last quarter. Finally, State Street Corp boosted its holdings in shares of Delta Air Lines by 2.8% in the first quarter. State Street Corp now owns 21,652,643 shares of the transportation company’s stock valued at $756,110,000 after acquiring an additional 579,727 shares in the last quarter. Institutional investors own 71.29% of the company’s stock.

About Delta Air Lines

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.