Delta Air Lines (NYSE:DAL) Releases Q2 2024 Earnings Guidance

Delta Air Lines (NYSE:DALGet Free Report) issued an update on its second quarter 2024 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of 2.200-2.500 for the period, compared to the consensus estimate of 2.250. The company issued revenue guidance of $16.4 billion-$16.7 billion, compared to the consensus revenue estimate of $15.4 billion. Delta Air Lines also updated its FY24 guidance to $6.00-7.00 EPS.

Delta Air Lines Price Performance

Delta Air Lines stock opened at $47.63 on Friday. The company has a debt-to-equity ratio of 1.48, a quick ratio of 0.34 and a current ratio of 0.41. The firm has a market cap of $30.64 billion, a P/E ratio of 6.12, a P/E/G ratio of 0.70 and a beta of 1.43. The business’s fifty day moving average is $43.30 and its two-hundred day moving average is $39.29. Delta Air Lines has a 52 week low of $30.60 and a 52 week high of $49.81.

Delta Air Lines (NYSE:DALGet Free Report) last posted its quarterly earnings data on Wednesday, April 10th. The transportation company reported $0.45 EPS for the quarter, topping analysts’ consensus estimates 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 return on equity of 41.89% and a net margin of 8.48%. The business’s revenue was up 7.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.25 earnings per share. Equities research analysts forecast that Delta Air Lines will post 6.51 earnings per share for the current fiscal year.

Delta Air Lines Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 18th. Stockholders of record on Monday, February 26th were given a dividend of $0.10 per share. The ex-dividend date of this dividend was Friday, February 23rd. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.84%. Delta Air Lines’s payout ratio is currently 5.14%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on DAL. Deutsche Bank Aktiengesellschaft boosted their target price on Delta Air Lines from $50.00 to $60.00 and gave the stock a buy rating in a research report on Thursday. StockNews.com downgraded Delta Air Lines from a buy rating to a hold rating in a research report on Thursday, February 22nd. TheStreet upgraded Delta Air Lines from a c+ rating to a b- rating in a research report on Thursday, January 4th. Susquehanna boosted their target price on Delta Air Lines from $47.00 to $54.00 and gave the stock a positive rating in a research report on Tuesday. Finally, UBS Group assumed coverage on Delta Air Lines in a report on Wednesday, March 20th. They issued a buy rating and a $59.00 price objective for the company. One research analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of Buy and a consensus price target of $58.29.

Get Our Latest Report on Delta Air Lines

Insider Buying and Selling at Delta Air Lines

In other Delta Air Lines news, CEO Edward H. Bastian sold 71,840 shares of the business’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $39.20, for a total value of $2,816,128.00. Following the completion of the transaction, the chief executive officer now directly owns 428,768 shares of the company’s stock, valued at $16,807,705.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.89% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Main Street Group LTD acquired a new position in shares of Delta Air Lines during the fourth quarter worth about $25,000. Coppell Advisory Solutions Corp. acquired a new position in shares of Delta Air Lines during the fourth quarter worth about $28,000. Tyler Stone Wealth Management acquired a new position in shares of Delta Air Lines during the second quarter worth about $36,000. O Dell Group LLC acquired a new position in shares of Delta Air Lines during the fourth quarter worth about $37,000. Finally, VitalStone Financial LLC boosted its position in shares of Delta Air Lines by 85.8% during the first quarter. VitalStone Financial LLC now owns 1,083 shares of the transportation company’s stock worth $42,000 after buying an additional 500 shares during the period. 69.93% of the stock is owned by institutional investors and hedge funds.

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.

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

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