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

Delta Air Lines (NYSE:DAL) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided earnings per share guidance of 6.500- for the period, compared to the consensus earnings per share estimate of 6.110. The company issued revenue guidance of -. Delta Air Lines also updated its Q3 2024 guidance to 2.000-2.000 EPS.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Sanford C. Bernstein reduced their price target on shares of Delta Air Lines from $66.00 to $62.00 and set an outperform rating for the company in a research report on Friday, July 12th. Citigroup raised their target price on Delta Air Lines from $55.00 to $65.00 and gave the company a buy rating in a research report on Wednesday, May 29th. TD Cowen dropped their price target on Delta Air Lines from $61.00 to $59.00 and set a buy rating for the company in a research report on Wednesday, July 17th. Finally, Jefferies Financial Group reduced their price objective on Delta Air Lines from $58.00 to $56.00 and set a buy rating for the company in a research note on Friday, June 28th. One research analyst has rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of Buy and an average target price of $60.70.

Delta Air Lines Trading Up 1.0 %

Shares of DAL traded up $0.43 during midday trading on Thursday, reaching $44.71. The company had a trading volume of 7,680,335 shares, compared to its average volume of 9,484,478. Delta Air Lines has a 1-year low of $30.60 and a 1-year high of $53.86. The company has a quick ratio of 0.35, a current ratio of 0.40 and a debt-to-equity ratio of 1.21. The firm has a 50 day simple moving average of $42.35 and a 200-day simple moving average of $46.08. The stock has a market cap of $28.85 billion, a PE ratio of 6.37, a price-to-earnings-growth ratio of 0.93 and a beta of 1.34.

Delta Air Lines (NYSE:DAL) last released its quarterly earnings data on Thursday, July 11th. The transportation company reported $2.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.37 by ($0.01). The firm had revenue of $15.41 billion for the quarter, compared to analyst estimates of $15.45 billion. Delta Air Lines had a return on equity of 36.02% and a net margin of 7.46%. Delta Air Lines’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.68 earnings per share. Research analysts forecast that Delta Air Lines will post 5.94 EPS for the current fiscal year.

Delta Air Lines Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 20th. Stockholders of record on Tuesday, July 30th were given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 1.34%. The ex-dividend date was Tuesday, July 30th. This is a positive change from Delta Air Lines’s previous quarterly dividend of $0.10. Delta Air Lines’s payout ratio is presently 8.63%.

Insider Buying and Selling

In other Delta Air Lines news, Director Willie Cw Chiang bought 10,000 shares of Delta Air Lines stock in a transaction on Friday, July 12th. The shares were bought at an average price of $43.90 per share, for a total transaction of $439,000.00. Following the completion of the transaction, the director now directly owns 20,000 shares of the company’s stock, valued at $878,000. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. 0.96% of the stock is currently owned by company insiders.

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.