Delta Air Lines (NYSE:DAL) Updates FY24 Earnings Guidance

Delta Air Lines (NYSE:DAL) updated its FY24 earnings guidance on Thursday. The company provided earnings per share guidance of $6.00-7.00 for the period, compared to the consensus earnings per share estimate of $6.58. Delta Air Lines also updated its FY 2024 guidance to 6.000-7.000 EPS.

Wall Street Analyst Weigh In

Several brokerages recently commented on DAL. Bank of America upped their price target on shares of Delta Air Lines from $53.00 to $55.00 and gave the company a buy rating in a research report on Thursday, April 11th. TD Cowen raised their target price on Delta Air Lines from $55.00 to $61.00 and gave the stock a buy rating in a research report on Tuesday, July 2nd. UBS Group started coverage on Delta Air Lines in a research report on Wednesday, March 20th. They set a buy rating and a $59.00 price objective for the company. Citigroup lifted their target price on Delta Air Lines from $55.00 to $65.00 and gave the company a buy rating in a research note on Wednesday, May 29th. Finally, HSBC initiated coverage on shares of Delta Air Lines in a research report on Monday, May 13th. They issued a buy rating and a $72.80 price target for the company. One equities research analyst has rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of Buy and an average price target of $60.30.

Delta Air Lines Stock Down 3.9 %

Shares of Delta Air Lines stock traded down $1.83 during midday trading on Thursday, reaching $45.03. 33,837,314 shares of the company’s stock traded hands, compared to its average volume of 9,653,534. The company has a market cap of $29.06 billion, a price-to-earnings ratio of 5.53, a price-to-earnings-growth ratio of 0.69 and a beta of 1.35. Delta Air Lines has a 52 week low of $30.60 and a 52 week high of $53.86. The company’s 50 day simple moving average is $50.19 and its 200 day simple moving average is $45.48. The company has a debt-to-equity ratio of 1.48, a quick ratio of 0.36 and a current ratio of 0.41.

Delta Air Lines (NYSE:DAL) last announced its quarterly earnings results on Thursday, July 11th. The transportation company reported $2.36 earnings per share for the quarter, missing analysts’ consensus estimates of $2.37 by ($0.01). The company had revenue of $15.41 billion during the quarter, compared to analyst estimates of $15.45 billion. Delta Air Lines had a return on equity of 41.89% and a net margin of 8.48%. Delta Air Lines’s quarterly revenue was up 5.4% on a year-over-year basis. During the same period in the prior year, the firm earned $2.68 EPS. Equities analysts expect that Delta Air Lines will post 6.55 earnings per share for the current fiscal year.

Delta Air Lines Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, August 20th. Stockholders of record on Tuesday, July 30th will be given a $0.15 dividend. This is a positive change from Delta Air Lines’s previous quarterly dividend of $0.10. The ex-dividend date is Tuesday, July 30th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.33%. Delta Air Lines’s dividend payout ratio (DPR) is currently 5.14%.

Insider Transactions at Delta Air Lines

In related news, EVP Joanne D. Smith sold 4,846 shares of the firm’s stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $52.30, for a total value of $253,445.80. Following the transaction, the executive vice president now directly 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 accessible through this link. In other Delta Air Lines news, EVP Joanne D. Smith sold 4,846 shares of the firm’s stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $52.30, for a total value of $253,445.80. Following the sale, the executive vice president now owns 112,421 shares of the company’s stock, valued at approximately $5,879,618.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, President Glen W. Hauenstein sold 100,000 shares of Delta Air Lines stock in a transaction that occurred on Monday, April 22nd. The stock was sold at an average price of $49.05, for a total value of $4,905,000.00. Following the completion of the transaction, the president now directly owns 217,584 shares in the company, valued at $10,672,495.20. The disclosure for this sale can be found here. Over the last three months, insiders sold 178,919 shares of company stock worth $8,834,653. 0.96% of the stock is owned by insiders.

Delta Air Lines Company Profile

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.