Seaport Res Ptn Analysts Boost Earnings Estimates for Delta Air Lines, Inc. (NYSE:DAL)

Delta Air Lines, Inc. (NYSE:DAL) – Investment analysts at Seaport Res Ptn boosted their Q1 2024 EPS estimates for shares of Delta Air Lines in a research note issued to investors on Monday, April 8th. Seaport Res Ptn analyst D. Mckenzie now expects that the transportation company will earn $0.40 per share for the quarter, up from their previous estimate of $0.35. The consensus estimate for Delta Air Lines’ current full-year earnings is $6.56 per share.

A number of other equities research analysts have also issued reports on the stock. UBS Group assumed coverage on shares of Delta Air Lines in a report on Wednesday, March 20th. They set a “buy” rating and a $59.00 price objective for the company. TheStreet raised shares of Delta Air Lines from a “c+” rating to a “b-” rating in a report on Thursday, January 4th. Susquehanna raised their target price on shares of Delta Air Lines from $47.00 to $54.00 and gave the company a “positive” rating in a report on Tuesday. Morgan Stanley raised their price target on Delta Air Lines from $77.00 to $85.00 and gave the stock an “overweight” rating in a research report on Monday, April 1st. Finally, StockNews.com downgraded Delta Air Lines from a “buy” rating to a “hold” rating in a research report on Thursday, February 22nd. One investment analyst has rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Delta Air Lines has an average rating of “Buy” and an average target price of $58.00.

Delta Air Lines Trading Down 2.3 %

Shares of DAL opened at $46.24 on Tuesday. The company has a debt-to-equity ratio of 1.54, a current ratio of 0.39 and a quick ratio of 0.34. Delta Air Lines has a 1 year low of $30.60 and a 1 year high of $49.81. The company has a 50 day simple moving average of $43.14 and a two-hundred day simple moving average of $39.23. The firm has a market cap of $29.75 billion, a P/E ratio of 6.47, a price-to-earnings-growth ratio of 0.70 and a beta of 1.43.

Delta Air Lines (NYSE:DAL) last released its earnings results on Wednesday, April 10th. The transportation company reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.09. The company had revenue of $13.75 billion during the quarter, compared to analyst estimates of $12.51 billion. Delta Air Lines had a net margin of 7.94% and a return on equity of 46.35%. The firm’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.25 EPS.

Institutional Investors Weigh In On Delta Air Lines

A number of institutional investors and hedge funds have recently modified their holdings of DAL. Acadian Asset Management LLC acquired a new stake in shares of Delta Air Lines during the first quarter worth about $217,000. Panagora Asset Management Inc. lifted its holdings in Delta Air Lines by 41.8% in the first quarter. Panagora Asset Management Inc. now owns 25,838 shares of the transportation company’s stock valued at $1,022,000 after acquiring an additional 7,616 shares during the period. APG Asset Management N.V. acquired a new position in Delta Air Lines in the first quarter valued at approximately $243,000. Raymond James Trust N.A. raised its stake in shares of Delta Air Lines by 20.7% during the 1st quarter. Raymond James Trust N.A. now owns 9,918 shares of the transportation company’s stock worth $392,000 after buying an additional 1,700 shares during the period. Finally, Cibc World Market Inc. raised its stake in shares of Delta Air Lines by 3.1% during the 1st quarter. Cibc World Market Inc. now owns 29,508 shares of the transportation company’s stock worth $1,168,000 after buying an additional 891 shares during the period. Institutional investors and hedge funds own 69.93% of the company’s stock.

Insider Transactions at Delta Air Lines

In other 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 transaction of $2,816,128.00. Following the sale, the chief executive officer now owns 428,768 shares in the company, valued at $16,807,705.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.89% of the company’s stock.

Delta Air Lines Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 18th. Stockholders of record on Monday, February 26th were paid a dividend of $0.10 per share. The ex-dividend date was Friday, February 23rd. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.87%. Delta Air Lines’s payout ratio is 5.59%.

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.