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

Delta Air Lines (NYSE:DAL) issued an update on its third quarter 2024 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of 2.000-2.000 for the period, compared to the consensus estimate of 1.560. The company issued revenue guidance of $14.6 billion-$14.7 billion, compared to the consensus revenue estimate of $14.8 billion. Delta Air Lines also updated its FY 2024 guidance to 6.500- EPS.

Delta Air Lines Stock Up 2.1 %

Shares of DAL stock opened at $45.18 on Friday. The stock has a 50 day moving average of $42.27 and a 200-day moving average of $46.12. The firm has a market cap of $29.16 billion, a PE ratio of 6.50, a price-to-earnings-growth ratio of 0.89 and a beta of 1.34. The company has a quick ratio of 0.35, a current ratio of 0.40 and a debt-to-equity ratio of 1.21. Delta Air Lines has a 12 month low of $30.60 and a 12 month high of $53.86.

Delta Air Lines (NYSE:DAL) last issued 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). Delta Air Lines had a net margin of 7.46% and a return on equity of 36.02%. The company had revenue of $15.41 billion during the quarter, compared to the consensus estimate of $15.45 billion. During the same period last year, the company earned $2.68 earnings per share. Delta Air Lines’s revenue for the quarter was up 5.4% on a year-over-year basis. On average, equities analysts predict that Delta Air Lines will post 5.99 EPS for the current year.

Delta Air Lines Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 20th. Shareholders of record on Tuesday, July 30th were issued a $0.15 dividend. 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. This represents a $0.60 annualized dividend and a yield of 1.33%. Delta Air Lines’s dividend payout ratio is 8.63%.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. TD Cowen reduced their target price 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. Sanford C. Bernstein decreased their target price 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. Jefferies Financial Group dropped their price target on shares of Delta Air Lines from $58.00 to $56.00 and set a buy rating for the company in a research report on Friday, June 28th. Finally, Citigroup upped their price objective 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. One investment analyst has rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Delta Air Lines currently has an average rating of Buy and a consensus price target of $61.52.

Insider Transactions at Delta Air Lines

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

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.