Delta Air Lines (NYSE:DAL) Updates FY24 Earnings Guidance

Delta Air Lines (NYSE:DAL) issued an update on its FY24 earnings guidance on Wednesday morning. The company provided earnings per share guidance of $6.00-7.00 for the period, compared to the consensus earnings per share estimate of $6.45. Delta Air Lines also updated its Q2 guidance to $2.20-2.50 EPS.

Delta Air Lines Price Performance

Delta Air Lines stock opened at $46.86 on Friday. Delta Air Lines has a one year low of $30.60 and a one year high of $49.81. The company has a debt-to-equity ratio of 1.48, a quick ratio of 0.34 and a current ratio of 0.41. The business has a fifty day moving average of $43.44 and a two-hundred day moving average of $39.35. The company has a market cap of $30.24 billion, a P/E ratio of 6.02, a price-to-earnings-growth ratio of 0.71 and a beta of 1.43.

Delta Air Lines (NYSE:DAL) last released its earnings results on Wednesday, April 10th. The transportation company reported $0.45 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.09. Delta Air Lines had a return on equity of 41.89% and a net margin of 8.48%. The company had revenue of $13.75 billion during the quarter, compared to the consensus estimate of $12.51 billion. During the same quarter last year, the company earned $0.25 earnings per share. Delta Air Lines’s quarterly revenue was up 7.8% compared to the same quarter last year. As a group, analysts predict that Delta Air Lines will post 6.52 earnings per share for the current fiscal year.

Delta Air Lines Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 18th. Stockholders of record on Monday, February 26th were given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.85%. The ex-dividend date was Friday, February 23rd. Delta Air Lines’s dividend payout ratio is currently 5.14%.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on DAL shares. Bank of America raised their price target on Delta Air Lines from $53.00 to $55.00 and gave the company a buy rating in a research report on Thursday. Morgan Stanley restated an overweight rating and issued a $85.00 price target on shares of Delta Air Lines in a research report on Thursday. TheStreet upgraded Delta Air Lines from a c+ rating to a b- rating in a research report on Thursday, January 4th. Susquehanna lifted their price objective on Delta Air Lines from $47.00 to $54.00 and gave the stock a positive rating in a research report on Tuesday. Finally, UBS Group started coverage on Delta Air Lines in a research report on Wednesday, March 20th. They set a buy rating and a $59.00 price objective for the company. One research analyst has rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of Buy and a consensus target price of $58.29.

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 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.89% of the stock is owned by company insiders.

Hedge Funds Weigh In On Delta Air Lines

Several institutional investors and hedge funds have recently made changes to their positions in DAL. Parkside Financial Bank & Trust raised its position in shares of 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 in the last quarter. Forum Financial Management LP increased its holdings in shares of Delta Air Lines by 3.5% during the first 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 period. Utah Retirement Systems increased its holdings in shares of Delta Air Lines by 0.6% during the fourth quarter. Utah Retirement Systems now owns 54,325 shares of the transportation company’s stock valued at $1,785,000 after purchasing an additional 300 shares during the period. Steward Partners Investment Advisory LLC increased its holdings in shares of Delta Air Lines by 0.7% during the first quarter. Steward Partners Investment Advisory LLC now owns 44,086 shares of the transportation company’s stock valued at $1,539,000 after purchasing an additional 309 shares during the period. Finally, Equitable Holdings Inc. increased its holdings in shares of Delta Air Lines by 1.5% during the first quarter. Equitable Holdings Inc. now owns 24,391 shares of the transportation company’s stock valued at $965,000 after purchasing an additional 367 shares during the period. 69.93% of the stock is currently owned by hedge funds and other institutional investors.

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.