Delta Air Lines (NYSE:DAL) Releases Q2 2024 Earnings Guidance

Delta Air Lines (NYSE:DAL) updated its second quarter 2024 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of 2.200-2.500 for the period, compared to the consensus estimate of 2.250. The company issued revenue guidance of $16.4 billion-$16.7 billion, compared to the consensus revenue estimate of $15.4 billion.

Analyst Ratings Changes

Several analysts have weighed in on the company. Susquehanna boosted their price objective on Delta Air Lines from $47.00 to $54.00 and gave the company a positive rating in a research report on Tuesday. Bank of America upped their target price on Delta Air Lines from $50.00 to $53.00 and gave the company a buy rating in a report on Thursday, April 4th. UBS Group assumed coverage on Delta Air Lines in a report on Wednesday, March 20th. They set a buy rating and a $59.00 target price for the company. Morgan Stanley upped their target price on Delta Air Lines from $77.00 to $85.00 and gave the company an overweight rating in a report on Monday, April 1st. Finally, TheStreet upgraded Delta Air Lines from a c+ rating to a b- rating in a report on Thursday, January 4th. One research analyst has rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of Buy and a consensus target price of $58.00.

Delta Air Lines Trading Up 0.7 %

NYSE DAL opened at $47.32 on Wednesday. Delta Air Lines has a 12 month low of $30.60 and a 12 month high of $49.81. The stock has a market cap of $30.44 billion, a P/E ratio of 6.62, a P/E/G ratio of 0.70 and a beta of 1.43. The stock’s fifty day moving average price is $43.00 and its 200-day moving average price is $39.18. The company has a current ratio of 0.39, a quick ratio of 0.34 and a debt-to-equity ratio of 1.54.

Delta Air Lines (NYSE:DAL) last released its earnings results on Friday, January 12th. The transportation company reported $1.28 EPS for the quarter, topping analysts’ consensus estimates of $1.17 by $0.11. Delta Air Lines had a return on equity of 46.35% and a net margin of 7.94%. The firm had revenue of $14.22 billion for the quarter, compared to analysts’ expectations of $13.55 billion. During the same period in the prior year, the firm posted $1.48 earnings per share. The company’s quarterly revenue was up 5.9% on a year-over-year basis. As a group, equities analysts forecast that Delta Air Lines will post 6.56 EPS for the current fiscal year.

Delta Air Lines Dividend Announcement

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

Insider Activity at Delta Air Lines

In related news, CEO Edward H. Bastian sold 71,840 shares of the stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $39.20, for a total transaction of $2,816,128.00. Following the sale, the chief executive officer now directly owns 428,768 shares of the company’s stock, valued at $16,807,705.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.89% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of DAL. Norges Bank bought a new position in Delta Air Lines in the fourth quarter valued at about $60,640,000. Amundi lifted its holdings in 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 during the period. AQR Capital Management LLC lifted its holdings in 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 during the period. Vanguard Group Inc. raised its stake 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 worth $2,700,032,000 after buying an additional 1,267,578 shares during the period. Finally, State Street Corp raised its stake 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 worth $756,110,000 after buying an additional 579,727 shares during the period. Institutional investors own 69.93% 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, Bogota, Lima, Mexico City, London-Heathrow, Paris-Charles de Gaulle, Sao Paulo, Seoul-Incheon, and Tokyo.