Delta Air Lines (NYSE:DAL) Issues Q3 2024 Earnings Guidance

Delta Air Lines (NYSE:DALGet Free Report) issued an update on its third quarter 2024 earnings guidance on Thursday morning. The company provided EPS guidance of 1.700-2.000 for the period, compared to the consensus EPS estimate of 2.060. The company issued revenue guidance of $15.8 billion-$16.1 billion, compared to the consensus revenue estimate of $15.4 billion. Delta Air Lines also updated its FY 2024 guidance to 6.000-7.000 EPS.

Delta Air Lines Stock Down 0.1 %

Shares of Delta Air Lines stock opened at $46.86 on Thursday. The company has a debt-to-equity ratio of 1.48, a quick ratio of 0.36 and a current ratio of 0.41. The company has a 50-day simple moving average of $50.19 and a two-hundred day simple moving average of $45.48. Delta Air Lines has a 52-week low of $30.60 and a 52-week high of $53.86. The stock has a market capitalization of $30.24 billion, a PE ratio of 6.02, a price-to-earnings-growth ratio of 0.69 and a beta of 1.35.

Delta Air Lines (NYSE:DALGet Free Report) last released its quarterly earnings data 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. Delta Air Lines had a net margin of 8.48% and a return on equity of 41.89%. The firm had revenue of $13.75 billion during the quarter, compared to analysts’ expectations of $12.51 billion. During the same period in the previous year, the company earned $0.25 earnings per share. The firm’s quarterly revenue was up 7.8% on a year-over-year basis. On average, analysts anticipate that Delta Air Lines will post 6.55 EPS for the current fiscal year.

Delta Air Lines Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 20th. Investors of record on Tuesday, July 30th will be given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 1.28%. This is a positive change from Delta Air Lines’s previous quarterly dividend of $0.10. The ex-dividend date is Tuesday, July 30th. Delta Air Lines’s payout ratio is 5.14%.

Analyst Ratings Changes

DAL has been the subject of several recent research reports. HSBC initiated coverage on shares of Delta Air Lines in a research report on Monday, May 13th. They set a buy rating and a $72.80 target price for the company. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Delta Air Lines from $50.00 to $60.00 and gave the company a buy rating in a research report on Thursday, April 11th. UBS Group started coverage on shares of Delta Air Lines in a research report on Wednesday, March 20th. They set a buy rating and a $59.00 target price for the company. Bank of America upped their price target 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. Finally, Morgan Stanley reiterated an overweight rating and issued a $85.00 price target on shares of Delta Air Lines in a research report on Thursday, April 11th. One analyst has rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of Buy and a consensus price target of $60.30.

View Our Latest Stock Analysis on Delta Air Lines

Insider Activity at Delta Air Lines

In other Delta Air Lines news, Director Willie Cw Chiang purchased 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 1st. The shares were bought at an average price of $49.50 per share, with a total value of $495,000.00. Following the completion of the purchase, the director now directly owns 10,000 shares in the company, valued at $495,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, EVP Joanne D. Smith sold 4,846 shares of the firm’s stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $52.30, for a total value of $253,445.80. Following the completion of the sale, the executive vice president now owns 112,421 shares in the company, valued at approximately $5,879,618.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Willie Cw Chiang bought 10,000 shares of the stock in a transaction dated Wednesday, May 1st. The stock was purchased at an average price of $49.50 per share, with a total value of $495,000.00. Following the acquisition, the director now directly owns 10,000 shares in the company, valued at approximately $495,000. The disclosure for this purchase can be found here. Insiders have sold a total of 178,919 shares of company stock valued at $8,834,653 over the last 90 days. 0.96% of the stock is owned by corporate insiders.

Delta Air Lines Company Profile

(Get Free Report)

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.

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Earnings History and Estimates for Delta Air Lines (NYSE:DAL)

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