Q2 2024 EPS Estimates for Delta Air Lines, Inc. Lifted by Analyst (NYSE:DAL)

Delta Air Lines, Inc. (NYSE:DAL) – Analysts at Zacks Research raised their Q2 2024 earnings per share (EPS) estimates for shares of Delta Air Lines in a research note issued on Wednesday, May 1st. Zacks Research analyst M. Basu now expects that the transportation company will post earnings per share of $2.48 for the quarter, up from their previous forecast of $2.24. The consensus estimate for Delta Air Lines’ current full-year earnings is $6.55 per share. Zacks Research also issued estimates for Delta Air Lines’ Q3 2024 earnings at $2.20 EPS, Q2 2025 earnings at $2.35 EPS, Q4 2025 earnings at $1.81 EPS and FY2026 earnings at $8.26 EPS.

Several other equities analysts also recently commented on DAL. UBS Group initiated 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. Bank of America upped their target price on Delta Air Lines from $53.00 to $55.00 and gave the company a “buy” rating in a research note on Thursday, April 11th. Morgan Stanley reissued an “overweight” rating and set a $85.00 price target on shares of Delta Air Lines in a research note on Thursday, April 11th. StockNews.com cut Delta Air Lines from a “buy” rating to a “hold” rating in a report on Thursday, February 22nd. Finally, Susquehanna increased their target price on Delta Air Lines from $47.00 to $54.00 and gave the stock a “positive” rating in a research note on Tuesday, April 9th. One equities research analyst has rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $58.29.

Delta Air Lines Trading Up 1.0 %

Shares of DAL opened at $51.55 on Friday. The company’s fifty day simple moving average is $45.98 and its 200-day simple moving average is $40.72. The company has a market cap of $32.99 billion, a P/E ratio of 6.63, a P/E/G ratio of 0.76 and a beta of 1.38. The company has a current ratio of 0.41, a quick ratio of 0.36 and a debt-to-equity ratio of 1.48. Delta Air Lines has a twelve month low of $30.60 and a twelve month high of $51.65.

Delta Air Lines (NYSE:DAL) last released its quarterly earnings results on Thursday, April 11th. The transportation company reported $0.45 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.09. The company had revenue of $13.75 billion for the quarter, compared to analyst estimates of $12.51 billion. Delta Air Lines had a return on equity of 41.89% and a net margin of 8.48%. Delta Air Lines’s quarterly 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 EPS.

Delta Air Lines Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 4th. Shareholders of record on Tuesday, May 14th will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.78%. The ex-dividend date is Monday, May 13th. Delta Air Lines’s dividend payout ratio (DPR) is 5.14%.

Insider Activity

In related news, Director Willie Cw Chiang bought 10,000 shares of the company’s stock in a transaction on Wednesday, May 1st. The shares were acquired at an average price of $49.50 per share, with a total value of $495,000.00. Following the transaction, the director now owns 10,000 shares of the company’s stock, valued at $495,000. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, Director Willie Cw Chiang bought 10,000 shares of Delta Air Lines stock in a transaction on Wednesday, May 1st. The stock was acquired at an average cost of $49.50 per share, for a total transaction of $495,000.00. Following the completion of the acquisition, the director now owns 10,000 shares of the company’s stock, valued at approximately $495,000. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, President Glen W. Hauenstein sold 100,000 shares of the firm’s stock in a transaction dated Monday, April 22nd. The shares were sold at an average price of $49.05, for a total transaction of $4,905,000.00. Following the completion of the sale, the president now owns 217,584 shares in the company, valued at $10,672,495.20. The disclosure for this sale can be found here. In the last quarter, insiders sold 174,073 shares of company stock worth $8,581,207. 0.89% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Delta Air Lines

Several institutional investors and hedge funds have recently bought and sold shares of DAL. Silverlake Wealth Management LLC raised its position in shares of Delta Air Lines by 2.9% in the 1st quarter. Silverlake Wealth Management LLC now owns 8,145 shares of the transportation company’s stock valued at $390,000 after purchasing an additional 229 shares during the last quarter. Lindbrook Capital LLC increased its stake in Delta Air Lines by 7.2% during the 1st quarter. Lindbrook Capital LLC now owns 3,472 shares of the transportation company’s stock valued at $166,000 after purchasing an additional 233 shares in the last quarter. Norden Group LLC raised its holdings in shares of Delta Air Lines by 1.8% in the first quarter. Norden Group LLC now owns 14,006 shares of the transportation company’s stock worth $670,000 after buying an additional 243 shares during the last quarter. Balboa Wealth Partners lifted its stake in shares of Delta Air Lines by 3.3% during the fourth quarter. Balboa Wealth Partners now owns 8,146 shares of the transportation company’s stock worth $328,000 after buying an additional 261 shares during the period. Finally, Wahed Invest LLC grew its holdings in shares of Delta Air Lines by 10.7% during the fourth quarter. Wahed Invest LLC now owns 2,748 shares of the transportation company’s stock valued at $111,000 after buying an additional 265 shares during the last quarter. 69.93% of the stock is 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.