Q1 2024 Earnings Estimate for Delta Air Lines, Inc. Issued By Seaport Res Ptn (NYSE:DAL)

Delta Air Lines, Inc. (NYSE:DAL) – Stock analysts at Seaport Res Ptn increased their Q1 2024 earnings per share (EPS) estimates for shares of Delta Air Lines in a note issued to investors on Monday, April 8th. Seaport Res Ptn analyst D. Mckenzie now anticipates that the transportation company will post earnings of $0.40 per share for the quarter, up from their prior forecast of $0.35. The consensus estimate for Delta Air Lines’ current full-year earnings is $6.56 per share.

DAL has been the topic of several other reports. UBS Group started coverage on Delta Air Lines in a research report on Wednesday, March 20th. They issued a “buy” rating and a $59.00 price objective on the stock. Morgan Stanley upped their price target on Delta Air Lines from $77.00 to $85.00 and gave the stock an “overweight” rating in a research note on Monday, April 1st. TheStreet upgraded shares of Delta Air Lines from a “c+” rating to a “b-” rating in a research report on Thursday, January 4th. Bank of America upped their target price on shares of Delta Air Lines from $50.00 to $53.00 and gave the stock a “buy” rating in a research report on Thursday, April 4th. Finally, StockNews.com downgraded shares of Delta Air Lines from a “buy” rating to a “hold” rating in a report on Thursday, February 22nd. One investment analyst has rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $57.29.

Delta Air Lines Stock Up 2.1 %

DAL opened at $47.03 on Tuesday. Delta Air Lines has a fifty-two week low of $30.60 and a fifty-two week high of $49.81. The company has a debt-to-equity ratio of 1.54, a quick ratio of 0.34 and a current ratio of 0.39. The stock has a market cap of $30.26 billion, a price-to-earnings ratio of 6.58, a price-to-earnings-growth ratio of 0.69 and a beta of 1.43. The firm’s fifty day moving average is $42.84 and its 200 day moving average is $39.11.

Delta Air Lines (NYSE:DAL) last issued its quarterly earnings results on Friday, January 12th. The transportation company reported $1.28 earnings per share for the quarter, beating the consensus estimate of $1.17 by $0.11. The business had revenue of $14.22 billion for the quarter, compared to the consensus estimate of $13.55 billion. Delta Air Lines had a net margin of 7.94% and a return on equity of 46.35%. The company’s revenue for the quarter was up 5.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.48 earnings per share.

Institutional Investors Weigh In On Delta Air Lines

Several institutional investors have recently made changes to their positions in DAL. Parkside Financial Bank & Trust boosted its holdings in Delta Air Lines by 10.1% during the 2nd quarter. Parkside Financial Bank & Trust now owns 2,817 shares of the transportation company’s stock valued at $134,000 after acquiring an additional 258 shares during the period. Balboa Wealth Partners boosted its stake in shares of Delta Air Lines by 3.3% during the fourth quarter. Balboa Wealth Partners now owns 8,146 shares of the transportation company’s stock valued at $328,000 after purchasing an additional 261 shares during the period. Wahed Invest LLC grew its holdings in shares of Delta Air Lines by 10.7% in the fourth quarter. Wahed Invest LLC now owns 2,748 shares of the transportation company’s stock worth $111,000 after purchasing an additional 265 shares during the last quarter. Forum Financial Management LP increased its stake in Delta Air Lines by 3.5% in the 1st quarter. Forum Financial Management LP now owns 8,675 shares of the transportation company’s stock worth $343,000 after buying an additional 292 shares during the period. Finally, Navalign LLC lifted its holdings in Delta Air Lines by 1.7% during the 4th quarter. Navalign LLC now owns 17,402 shares of the transportation company’s stock valued at $700,000 after buying an additional 293 shares in the last quarter. Institutional investors own 69.93% of the company’s stock.

Insider Buying and Selling

In other news, CEO Edward H. Bastian sold 71,840 shares of Delta Air Lines stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $39.20, for a total value of $2,816,128.00. Following the completion of the transaction, the chief executive officer now owns 428,768 shares in the company, valued at approximately $16,807,705.60. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.89% of the stock is currently owned by company insiders.

Delta Air Lines Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 18th. Stockholders of record on Monday, February 26th were given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.85%. The ex-dividend date was Friday, February 23rd. Delta Air Lines’s dividend payout ratio is 5.59%.

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.