Zacks Research Research Analysts Boost Earnings Estimates for Delta Air Lines, Inc. (NYSE:DAL)

Delta Air Lines, Inc. (NYSE:DAL) – Investment analysts at Zacks Research raised their Q2 2024 earnings estimates for Delta Air Lines in a research report issued on Wednesday, May 1st. Zacks Research analyst M. Basu now expects that the transportation company will earn $2.48 per share for the quarter, up from their prior forecast of $2.24. The consensus estimate for Delta Air Lines’ current full-year earnings is $6.55 per share. Zacks Research also issued estimates for Delta Air Lines’ Q3 2024 earnings at $2.20 EPS, Q2 2025 earnings at $2.35 EPS, Q4 2025 earnings at $1.81 EPS and FY2026 earnings at $8.26 EPS.

A number of other equities research analysts have also weighed in on the stock. StockNews.com lowered shares of Delta Air Lines from a “buy” rating to a “hold” rating in a report on Thursday, February 22nd. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Delta Air Lines from $50.00 to $60.00 and gave the stock a “buy” rating in a research note on Thursday, April 11th. TheStreet upgraded shares of Delta Air Lines from a “c+” rating to a “b-” rating in a research note on Thursday, January 4th. UBS Group initiated coverage on shares of Delta Air Lines in a research report on Wednesday, March 20th. They set a “buy” rating and a $59.00 price objective on the stock. Finally, Susquehanna raised their price objective on shares of Delta Air Lines from $47.00 to $54.00 and gave the stock a “positive” rating in a research report on Tuesday, April 9th. One analyst has rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $58.29.

Delta Air Lines Price Performance

Delta Air Lines stock opened at $51.03 on Friday. Delta Air Lines has a 52-week low of $30.60 and a 52-week high of $51.19. The firm has a market capitalization of $32.66 billion, a price-to-earnings ratio of 6.56, a PEG ratio of 0.74 and a beta of 1.38. The company has a fifty day simple moving average of $45.79 and a 200-day simple moving average of $40.60. The company has a quick ratio of 0.36, a current ratio of 0.41 and a debt-to-equity ratio of 1.48.

Delta Air Lines (NYSE:DAL) last issued its quarterly earnings data on Thursday, April 11th. The transportation company reported $0.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.36 by $0.09. The firm had revenue of $13.75 billion for the quarter, compared to the consensus estimate of $12.51 billion. Delta Air Lines had a net margin of 8.48% and a return on equity of 41.89%. The company’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.25 EPS.

Hedge Funds Weigh In On Delta Air Lines

Institutional investors have recently bought and sold shares of the business. Central Pacific Bank Trust Division purchased a new position in shares of Delta Air Lines in the 1st quarter worth approximately $150,000. Wright Investors Service Inc. boosted its stake in Delta Air Lines by 2.1% in the 1st quarter. Wright Investors Service Inc. now owns 35,193 shares of the transportation company’s stock worth $1,685,000 after purchasing an additional 736 shares in the last quarter. Daiwa Securities Group Inc. lifted its stake in Delta Air Lines by 15.8% during the 1st quarter. Daiwa Securities Group Inc. now owns 31,798 shares of the transportation company’s stock valued at $1,522,000 after acquiring an additional 4,337 shares during the period. Fidelis Capital Partners LLC acquired a new stake in Delta Air Lines during the 1st quarter valued at approximately $65,000. Finally, BNP Paribas acquired a new stake in Delta Air Lines during the 1st quarter valued at approximately $82,000. Institutional investors own 69.93% of the company’s stock.

Insider Activity

In related news, EVP Alain Bellemare sold 24,073 shares of Delta Air Lines stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $48.86, for a total value of $1,176,206.78. Following the sale, the executive vice president now owns 141,451 shares in the company, valued at $6,911,295.86. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, EVP Alain Bellemare sold 24,073 shares of the stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of $48.86, for a total transaction of $1,176,206.78. Following the transaction, the executive vice president now owns 141,451 shares in the company, valued at $6,911,295.86. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Peter W. Carter sold 50,000 shares of the company’s stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $50.00, for a total transaction of $2,500,000.00. Following the sale, the executive vice president now directly owns 143,328 shares of the company’s stock, valued at $7,166,400. The disclosure for this sale can be found here. Insiders have sold a total of 174,073 shares of company stock worth $8,581,207 over the last ninety days. Company insiders own 0.89% of the company’s stock.

Delta Air Lines Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 4th. Stockholders of record on Tuesday, May 14th will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.78%. The ex-dividend date of this dividend is Monday, May 13th. Delta Air Lines’s dividend payout ratio is presently 5.14%.

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.