Delta Air Lines, Inc. (NYSE:DAL) Forecasted to Post Q2 2024 Earnings of $2.48 Per Share

Delta Air Lines, Inc. (NYSE:DAL) – Investment analysts at Zacks Research increased their Q2 2024 earnings estimates for shares of Delta Air Lines in a note issued to investors 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 research firms also recently weighed in on DAL. Susquehanna upped their price target 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. Bank of America upped their target price on shares of Delta Air Lines from $53.00 to $55.00 and gave the stock a “buy” rating in a research report on Thursday, April 11th. Morgan Stanley reiterated an “overweight” rating and issued a $85.00 price target on shares of Delta Air Lines in a report on Thursday, April 11th. Deutsche Bank Aktiengesellschaft increased their price objective 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. Finally, UBS Group assumed coverage on Delta Air Lines in a report on Wednesday, March 20th. They issued a “buy” rating and a $59.00 target price on the stock. One equities research analyst has rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Delta Air Lines presently has an average rating of “Buy” and a consensus price target of $58.29.

Delta Air Lines Stock Performance

NYSE:DAL opened at $51.56 on Friday. The stock has a 50-day moving average price of $45.79 and a 200 day moving average price of $40.60. The stock has a market capitalization of $33.00 billion, a P/E ratio of 6.63, a P/E/G ratio of 0.74 and a beta of 1.38. Delta Air Lines has a 12-month low of $30.60 and a 12-month high of $51.65. 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 (NYSE:DAL) last posted its quarterly earnings results on Thursday, April 11th. 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 business had revenue of $13.75 billion for the quarter, compared to analysts’ expectations of $12.51 billion. During the same period last year, the firm earned $0.25 earnings per share. The business’s quarterly revenue was up 7.8% on a year-over-year basis.

Hedge Funds Weigh In On Delta Air Lines

Large investors have recently bought and sold shares of the business. Wellington Management Group LLP lifted its position in shares of Delta Air Lines by 220.2% during the fourth quarter. Wellington Management Group LLP now owns 8,600,741 shares of the transportation company’s stock worth $346,008,000 after purchasing an additional 5,914,301 shares during the last quarter. Capital International Investors increased its stake in Delta Air Lines by 8.8% in the 4th quarter. Capital International Investors now owns 20,936,699 shares of the transportation company’s stock worth $842,283,000 after buying an additional 1,689,053 shares during the period. Norges Bank bought a new stake in Delta Air Lines during the 4th quarter valued at about $65,056,000. Jennison Associates LLC boosted its position in Delta Air Lines by 145.2% in the 4th quarter. Jennison Associates LLC now owns 2,618,627 shares of the transportation company’s stock valued at $105,347,000 after buying an additional 1,550,770 shares during the period. Finally, Royal London Asset Management Ltd. grew its stake in Delta Air Lines by 27.0% in the 4th quarter. Royal London Asset Management Ltd. now owns 6,467,749 shares of the transportation company’s stock worth $260,198,000 after acquiring an additional 1,376,221 shares in the last quarter. Hedge funds and other institutional investors own 69.93% of the company’s stock.

Insider Activity

In related news, EVP Peter W. Carter sold 50,000 shares of the stock in a transaction on Monday, April 29th. The stock was sold at an average price of $50.00, for a total transaction of $2,500,000.00. Following the sale, the executive vice president now owns 143,328 shares in the company, valued at approximately $7,166,400. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, EVP Peter W. Carter sold 50,000 shares of the company’s stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $50.00, for a total transaction of $2,500,000.00. Following the transaction, the executive vice president now directly owns 143,328 shares in the company, valued at approximately $7,166,400. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Willie Cw Chiang acquired 10,000 shares of Delta Air Lines stock in a transaction that occurred on Wednesday, May 1st. The stock was purchased at an average cost of $49.50 per share, for a total transaction of $495,000.00. Following the completion of the transaction, the director now directly owns 10,000 shares in the company, valued at $495,000. The disclosure for this purchase can be found here. In the last 90 days, insiders have sold 174,073 shares of company stock valued at $8,581,207. 0.89% of the stock is currently owned by insiders.

Delta Air Lines Dividend Announcement

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