Zacks Research Weighs in on Delta Air Lines, Inc.’s Q1 2024 Earnings (NYSE:DAL)

Delta Air Lines, Inc. (NYSE:DAL) – Equities research analysts at Zacks Research increased their Q1 2024 EPS estimates for shares of Delta Air Lines in a report issued on Tuesday, April 9th. Zacks Research analyst M. Basu now forecasts that the transportation company will post earnings of $0.29 per share for the quarter, up from their prior forecast of $0.28. The consensus estimate for Delta Air Lines’ current full-year earnings is $6.56 per share. Zacks Research also issued estimates for Delta Air Lines’ Q2 2024 earnings at $2.24 EPS, Q4 2024 earnings at $1.43 EPS, FY2024 earnings at $6.17 EPS and FY2026 earnings at $8.14 EPS.

Delta Air Lines (NYSE:DAL) last released its quarterly earnings results on Wednesday, April 10th. The transportation company reported $0.45 EPS for the quarter, topping analysts’ consensus estimates of $0.36 by $0.09. Delta Air Lines had a net margin of 7.94% and a return on equity of 46.35%. The business had revenue of $13.75 billion during the quarter, compared to analysts’ expectations of $12.51 billion. During the same quarter in the previous year, the company earned $0.25 EPS. The business’s quarterly revenue was up 7.8% compared to the same quarter last year.

A number of other brokerages have also recently issued reports on DAL. Bank of America upped their price objective on shares of Delta Air Lines from $53.00 to $55.00 and gave the company a “buy” rating in a research note on Thursday. TheStreet raised shares of Delta Air Lines from a “c+” rating to a “b-” rating in a research note on Thursday, January 4th. UBS Group initiated 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. Morgan Stanley reiterated an “overweight” rating and set a $85.00 price target on shares of Delta Air Lines in a report on Thursday. Finally, Deutsche Bank Aktiengesellschaft upped their price target on shares of Delta Air Lines from $50.00 to $60.00 and gave the company a “buy” rating in a report on Thursday. One research analyst has rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $58.29.

Delta Air Lines Price Performance

Shares of Delta Air Lines stock opened at $47.63 on Wednesday. Delta Air Lines has a 52-week low of $30.60 and a 52-week high of $49.81. The stock has a market capitalization of $30.64 billion, a price-to-earnings ratio of 6.66, a price-to-earnings-growth ratio of 0.70 and a beta of 1.43. The company has a fifty day moving average of $43.30 and a 200-day moving average of $39.29. The company has a debt-to-equity ratio of 1.54, a quick ratio of 0.34 and a current ratio of 0.39.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Parkside Financial Bank & Trust increased its stake in shares of Delta Air Lines by 10.1% in the 2nd quarter. Parkside Financial Bank & Trust now owns 2,817 shares of the transportation company’s stock worth $134,000 after acquiring an additional 258 shares in the last quarter. Balboa Wealth Partners grew its position in Delta Air Lines by 3.3% during the 4th 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 last quarter. Wahed Invest LLC grew its position in Delta Air Lines by 10.7% during the 4th quarter. Wahed Invest LLC now owns 2,748 shares of the transportation company’s stock valued at $111,000 after purchasing an additional 265 shares during the last quarter. Forum Financial Management LP grew its position in Delta Air Lines by 3.5% during the 1st quarter. Forum Financial Management LP now owns 8,675 shares of the transportation company’s stock valued at $343,000 after purchasing an additional 292 shares during the last quarter. Finally, Navalign LLC grew its position 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 purchasing an additional 293 shares during the last quarter. 69.93% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Delta Air Lines news, CEO Edward H. Bastian sold 71,840 shares of the company’s stock in a transaction on Thursday, February 1st. The shares were 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 directly owns 428,768 shares in the company, valued at approximately $16,807,705.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.89% of the company’s stock.

Delta Air Lines Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 18th. Shareholders of record on Monday, February 26th were issued a $0.10 dividend. The ex-dividend date was Friday, February 23rd. This represents a $0.40 annualized dividend and a yield of 0.84%. Delta Air Lines’s dividend payout ratio (DPR) is presently 5.59%.

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.