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

DAL has been the topic of a number of research analyst reports. TD Cowen lowered their price target on Delta Air Lines from $61.00 to $59.00 and set a buy rating on the stock in a research note on Wednesday, July 17th. Citigroup upped their target price on shares of Delta Air Lines from $55.00 to $65.00 and gave the stock a buy rating in a report on Wednesday, May 29th. Sanford C. Bernstein lowered their price target on shares of Delta Air Lines from $66.00 to $62.00 and set an outperform rating on the stock in a research report on Friday, July 12th. Finally, Jefferies Financial Group cut their price objective 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. One research analyst has rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of Buy and a consensus target price of $60.70.

Delta Air Lines Trading Up 1.7 %

Shares of NYSE DAL traded up $0.77 during mid-day trading on Thursday, reaching $45.05. 8,118,646 shares of the company’s stock were exchanged, compared to its average volume of 9,486,506. The company’s 50-day moving average is $42.35 and its 200-day moving average is $46.08. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.35 and a current ratio of 0.40. The firm has a market capitalization of $29.07 billion, a price-to-earnings ratio of 6.37, a PEG ratio of 0.93 and a beta of 1.34. Delta Air Lines has a 52-week low of $30.60 and a 52-week high of $53.86.

Delta Air Lines (NYSE:DAL) last announced its earnings results on Thursday, July 11th. The transportation company reported $2.36 earnings per share for the quarter, missing the consensus estimate of $2.37 by ($0.01). The company had revenue of $15.41 billion for the quarter, compared to analysts’ expectations of $15.45 billion. Delta Air Lines had a return on equity of 36.02% and a net margin of 7.46%. The company’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same period last year, the business earned $2.68 EPS. Analysts expect that Delta Air Lines will post 5.94 EPS for the current fiscal year.

Delta Air Lines Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 20th. Investors of record on Tuesday, July 30th were issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 1.33%. This is a boost from Delta Air Lines’s previous quarterly dividend of $0.10. The ex-dividend date of this dividend was Tuesday, July 30th. Delta Air Lines’s dividend payout ratio (DPR) is 8.63%.

Insider Activity at Delta Air Lines

In related news, Director Willie Cw Chiang bought 10,000 shares of the stock in a transaction that occurred on Friday, July 12th. The stock was purchased at an average cost of $43.90 per share, with a total value of $439,000.00. Following the purchase, the director now directly owns 20,000 shares of the company’s stock, valued at approximately $878,000. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.96% of the company’s stock.

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.