Delta Air Lines (NYSE:DAL) Updates FY 2024 Earnings Guidance

Delta Air Lines (NYSE:DAL) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided earnings per share guidance of 6.000-7.000 for the period, compared to the consensus earnings per share estimate of 6.460. The company issued revenue guidance of -.

Delta Air Lines Price Performance

Shares of Delta Air Lines stock opened at $51.56 on Friday. Delta Air Lines has a twelve month low of $30.60 and a twelve month high of $51.65. The company has a quick ratio of 0.36, a current ratio of 0.41 and a debt-to-equity ratio of 1.48. The company has a 50-day simple moving average of $45.79 and a two-hundred day simple moving average of $40.60. The stock has a market capitalization of $33.00 billion, a price-to-earnings ratio of 6.63, a price-to-earnings-growth ratio of 0.74 and a beta of 1.38.

Delta Air Lines (NYSE:DAL) last issued its quarterly earnings data on Thursday, April 11th. The transportation company reported $0.45 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.09. Delta Air Lines had a net margin of 8.48% and a return on equity of 41.89%. 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 revenue was up 7.8% on a year-over-year basis. Analysts forecast that Delta Air Lines will post 6.55 EPS for the current year.

Delta Air Lines Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 4th. Shareholders of record on Tuesday, May 14th will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.78%. The ex-dividend date is Monday, May 13th. Delta Air Lines’s dividend payout ratio is currently 5.14%.

Analyst Ratings Changes

Several equities analysts have commented on DAL shares. Deutsche Bank Aktiengesellschaft raised their target price on shares of Delta Air Lines from $50.00 to $60.00 and gave the company a buy rating in a report on Thursday, April 11th. 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 target on the stock. StockNews.com lowered shares of Delta Air Lines from a buy rating to a hold rating in a report on Thursday, February 22nd. Susquehanna lifted their price target on shares of Delta Air Lines from $47.00 to $54.00 and gave the company a positive rating in a report on Tuesday, April 9th. Finally, Morgan Stanley reaffirmed an overweight rating and set a $85.00 price target on shares of Delta Air Lines in a report on Thursday, April 11th. One investment analyst has rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Delta Air Lines currently has an average rating of Buy and a consensus price target of $58.29.

Insider Transactions at Delta Air Lines

In related news, Director Willie Cw Chiang purchased 10,000 shares of Delta Air Lines stock in a transaction that occurred on Wednesday, May 1st. The stock was bought at an average price of $49.50 per share, for a total transaction of $495,000.00. Following the completion of the transaction, the director now owns 10,000 shares in the company, valued at $495,000. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Delta Air Lines news, Director Willie Cw Chiang acquired 10,000 shares of the company’s stock in a transaction on Wednesday, May 1st. The shares were acquired at an average cost of $49.50 per share, with a total value of $495,000.00. Following the completion of the acquisition, the director now directly owns 10,000 shares in the company, valued at $495,000. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Alain Bellemare sold 24,073 shares of the company’s stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $48.86, for a total transaction of $1,176,206.78. Following the sale, the executive vice president now directly owns 141,451 shares in the company, valued at $6,911,295.86. The disclosure for this sale can be found here. Insiders sold a total of 174,073 shares of company stock worth $8,581,207 in the last quarter. 0.89% of the stock is currently owned by corporate insiders.

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.