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

Delta Air Lines (NYSE:DALGet Free Report) updated its FY 2024 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of 6.000-7.000 for the period, compared to the consensus estimate of 6.580. The company issued revenue guidance of -. Delta Air Lines also updated its Q3 2024 guidance to 1.700-2.000 EPS.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in 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 report on Tuesday, April 9th. Jefferies Financial Group reduced their target price on shares of Delta Air Lines from $58.00 to $56.00 and set a buy rating for the company in a report on Friday, June 28th. TD Cowen increased their target price on shares of Delta Air Lines from $55.00 to $61.00 and gave the stock a buy rating in a report on Tuesday, July 2nd. Deutsche Bank Aktiengesellschaft increased their target price on shares of Delta Air Lines from $50.00 to $60.00 and gave the stock a buy rating in a report on Thursday, April 11th. Finally, Bank of America increased their target price on shares of Delta Air Lines from $53.00 to $55.00 and gave the stock a buy rating in a report on Thursday, April 11th. One research analyst has rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Delta Air Lines has an average rating of Buy and an average target price of $60.30.

Check Out Our Latest Analysis on DAL

Delta Air Lines Price Performance

Shares of DAL opened at $46.86 on Thursday. The firm has a market capitalization of $30.24 billion, a PE ratio of 6.02, a PEG ratio of 0.69 and a beta of 1.35. The company’s 50-day moving average is $50.19 and its 200-day moving average is $45.48. Delta Air Lines has a fifty-two week low of $30.60 and a fifty-two week high of $53.86. The company has a debt-to-equity ratio of 1.48, a current ratio of 0.41 and a quick ratio of 0.36.

Delta Air Lines (NYSE:DALGet Free Report) last issued 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. The company had revenue of $13.75 billion for the quarter, compared to analyst estimates of $12.51 billion. Delta Air Lines had a net margin of 8.48% and a return on equity of 41.89%. The company’s revenue was up 7.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.25 earnings per share. Equities analysts forecast that Delta Air Lines will post 6.55 EPS for the current year.

Delta Air Lines Increases Dividend

The firm also recently declared 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 dividend on an annualized basis 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 of this dividend is Tuesday, July 30th. Delta Air Lines’s dividend payout ratio (DPR) is currently 5.14%.

Insider Buying and Selling

In related 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 transaction of $253,445.80. Following the transaction, the executive vice president now directly owns 112,421 shares of the company’s stock, valued at $5,879,618.30. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related 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 transaction of $253,445.80. Following the transaction, the executive vice president now directly owns 112,421 shares of the company’s stock, valued at $5,879,618.30. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Peter W. Carter sold 50,000 shares of the firm’s stock in a transaction dated 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 transaction, the executive vice president now directly owns 143,328 shares in the company, valued at $7,166,400. The disclosure for this sale can be found here. Over the last three months, insiders have sold 178,919 shares of company stock valued at $8,834,653. 0.96% of the stock is owned by company insiders.

About Delta Air Lines

(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.

See Also

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

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