Equities Analysts Issue Forecasts for Delta Air Lines, Inc.’s Q3 2024 Earnings (NYSE:DAL)

Delta Air Lines, Inc. (NYSE:DAL) – Zacks Research reduced their Q3 2024 earnings estimates for Delta Air Lines in a research note issued on Tuesday, April 9th. Zacks Research analyst M. Basu now expects that the transportation company will earn $2.22 per share for the quarter, down from their previous forecast of $2.30. The consensus estimate for Delta Air Lines’ current full-year earnings is $6.51 per share. Zacks Research also issued estimates for Delta Air Lines’ Q1 2025 earnings at $0.97 EPS, Q2 2025 earnings at $2.14 EPS, Q3 2025 earnings at $2.55 EPS, Q4 2025 earnings at $1.66 EPS, FY2025 earnings at $7.32 EPS and Q1 2026 earnings at $1.22 EPS.

A number of other equities analysts also recently issued reports on DAL. UBS Group started coverage on shares of Delta Air Lines in a report on Wednesday, March 20th. They set a “buy” rating and a $59.00 price objective on the stock. StockNews.com lowered Delta Air Lines from a “buy” rating to a “hold” rating in a report on Thursday, February 22nd. Morgan Stanley reaffirmed an “overweight” rating and issued a $85.00 target price on shares of Delta Air Lines in a research note on Thursday. Bank of America boosted their price objective on Delta Air Lines from $53.00 to $55.00 and gave the company a “buy” rating in a research report on Thursday. Finally, Deutsche Bank Aktiengesellschaft upped their target price on Delta Air Lines from $50.00 to $60.00 and gave the company a “buy” rating in a report on Thursday. One equities 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. According to data from MarketBeat, Delta Air Lines presently has a consensus rating of “Buy” and a consensus target price of $58.29.

Delta Air Lines Price Performance

Delta Air Lines stock opened at $46.86 on Thursday. Delta Air Lines has a 52-week low of $30.60 and a 52-week high of $49.81. The stock’s 50 day moving average price is $43.44 and its two-hundred day moving average price is $39.35. 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 stock has a market capitalization of $30.15 billion, a price-to-earnings ratio of 6.02, a PEG ratio of 0.70 and a beta of 1.43.

Delta Air Lines (NYSE:DAL) last released its quarterly earnings data on Wednesday, April 10th. The transportation company reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.09. The company had revenue of $13.75 billion during the quarter, compared to the consensus estimate of $12.51 billion. Delta Air Lines had a return on equity of 41.89% and a net margin of 8.48%. The firm’s revenue was up 7.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.25 earnings per share.

Hedge Funds Weigh In On Delta Air Lines

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Acadian Asset Management LLC purchased a new stake in Delta Air Lines in the 1st quarter valued at approximately $217,000. Panagora Asset Management Inc. grew its stake in Delta Air Lines by 41.8% in the first quarter. Panagora Asset Management Inc. now owns 25,838 shares of the transportation company’s stock worth $1,022,000 after purchasing an additional 7,616 shares in the last quarter. APG Asset Management N.V. bought a new position in Delta Air Lines in the first quarter worth about $243,000. Raymond James Trust N.A. raised its holdings in shares of Delta Air Lines by 20.7% during the first quarter. Raymond James Trust N.A. now owns 9,918 shares of the transportation company’s stock valued at $392,000 after buying an additional 1,700 shares during the last quarter. Finally, Cibc World Market Inc. raised its holdings in shares of Delta Air Lines by 3.1% during the first quarter. Cibc World Market Inc. now owns 29,508 shares of the transportation company’s stock valued at $1,168,000 after buying an additional 891 shares during the last quarter. Hedge funds and other institutional investors own 69.93% of the company’s stock.

Insider Activity at Delta Air Lines

In other 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 value of $2,816,128.00. Following the sale, the chief executive officer now directly owns 428,768 shares in the company, valued at $16,807,705.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.89% of the company’s stock.

Delta Air Lines Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 18th. Investors 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 dividend yield of 0.85%. Delta Air Lines’s dividend payout ratio is presently 5.14%.

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.