Brokers Set Expectations for Delta Air Lines, Inc.’s FY2024 Earnings (NYSE:DAL)

Delta Air Lines, Inc. (NYSE:DAL) – Stock analysts at Zacks Research upped their FY2024 earnings per share 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 $6.70 for the year, up from their prior estimate of $6.17. The consensus estimate for Delta Air Lines’ current full-year earnings is $6.61 per share. Zacks Research also issued estimates for Delta Air Lines’ Q4 2024 earnings at $1.57 EPS, Q3 2025 earnings at $2.14 EPS, FY2025 earnings at $7.27 EPS and Q1 2026 earnings at $1.58 EPS.

Delta Air Lines (NYSE:DAL) last issued 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. The business had revenue of $13.75 billion for the quarter, compared to analysts’ expectations of $12.51 billion. Delta Air Lines had a net margin of 8.48% and a return on equity of 41.89%. The business’s quarterly revenue was up 7.8% on a year-over-year basis. During the same period last year, the business earned $0.25 earnings per share.

Several other analysts have also issued reports on DAL. Susquehanna upped their price target on shares of Delta Air Lines from $47.00 to $54.00 and gave the company a “positive” rating in a research report on Tuesday, April 9th. Morgan Stanley restated an “overweight” rating and set a $85.00 price target on shares of Delta Air Lines in a research report on Thursday, April 11th. StockNews.com cut Delta Air Lines from a “buy” rating to a “hold” rating in a research note on Thursday, February 22nd. UBS Group began coverage on Delta Air Lines in a research note on Wednesday, March 20th. They set a “buy” rating and a $59.00 price objective for the company. Finally, Bank of America lifted 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 note on Thursday, April 11th. One 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’s stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $58.29.

Delta Air Lines Price Performance

DAL stock opened at $51.55 on Monday. The firm has a market cap of $32.99 billion, a P/E ratio of 6.63, a P/E/G ratio of 0.77 and a beta of 1.38. The firm’s fifty day moving average is $45.98 and its 200 day moving average is $40.81. Delta Air Lines has a 52 week low of $30.60 and a 52 week high of $51.65. The company has a debt-to-equity ratio of 1.48, a quick ratio of 0.36 and a current ratio of 0.41.

Institutional Trading of Delta Air Lines

A number of hedge funds have recently made changes to their positions in DAL. Wellington Management Group LLP boosted its holdings in Delta Air Lines by 220.2% in the fourth quarter. Wellington Management Group LLP now owns 8,600,741 shares of the transportation company’s stock worth $346,008,000 after acquiring an additional 5,914,301 shares in the last quarter. Capital International Investors raised its position in shares of 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 purchasing an additional 1,689,053 shares during the last quarter. Norges Bank bought a new position in Delta Air Lines in the 4th quarter worth about $65,056,000. Jennison Associates LLC grew its position in Delta Air Lines by 145.2% during the 4th quarter. Jennison Associates LLC now owns 2,618,627 shares of the transportation company’s stock valued at $105,347,000 after purchasing an additional 1,550,770 shares during the last quarter. Finally, Royal London Asset Management Ltd. increased its stake in Delta Air Lines by 27.0% during the 4th quarter. Royal London Asset Management Ltd. now owns 6,467,749 shares of the transportation company’s stock valued at $260,198,000 after purchasing an additional 1,376,221 shares in the last quarter. 69.93% of the stock is owned by institutional investors.

Insider Activity at Delta Air Lines

In other Delta Air Lines news, President Glen W. Hauenstein sold 100,000 shares of the company’s stock in a transaction that occurred on Monday, April 22nd. The stock was sold at an average price of $49.05, for a total transaction of $4,905,000.00. Following the transaction, the president now owns 217,584 shares in the company, valued at approximately $10,672,495.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, President Glen W. Hauenstein sold 100,000 shares of the business’s stock in a transaction on 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 sale, the president now owns 217,584 shares in the company, valued at approximately $10,672,495.20. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Alain Bellemare sold 24,073 shares of the stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $48.86, for a total transaction of $1,176,206.78. Following the completion of the transaction, the executive vice president now owns 141,451 shares of the company’s stock, valued at $6,911,295.86. The disclosure for this sale can be found here. Insiders have sold 174,073 shares of company stock worth $8,581,207 over the last 90 days. 0.89% of the stock is owned by company 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 paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.78%. The ex-dividend date of this dividend is Monday, May 13th. Delta Air Lines’s payout ratio 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.