Q3 2024 EPS Estimates for Delta Air Lines, Inc. (NYSE:DAL) Lowered by Analyst

Delta Air Lines, Inc. (NYSE:DAL) – Equities researchers at Seaport Res Ptn reduced their Q3 2024 earnings per share estimates for Delta Air Lines in a note issued to investors on Tuesday, July 9th. Seaport Res Ptn analyst D. Mckenzie now anticipates that the transportation company will earn $1.90 per share for the quarter, down from their previous forecast of $2.25. The consensus estimate for Delta Air Lines’ current full-year earnings is $6.50 per share. Seaport Res Ptn also issued estimates for Delta Air Lines’ Q4 2024 earnings at $1.75 EPS.

Delta Air Lines (NYSE:DAL) last released its earnings results on Thursday, July 11th. The transportation company reported $2.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.37 by ($0.01). The firm had revenue of $15.41 billion during the quarter, compared to analysts’ expectations of $15.45 billion. Delta Air Lines had a net margin of 8.48% and a return on equity of 41.89%. Delta Air Lines’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same quarter last year, the company posted $2.68 earnings per share.

Other research analysts have also issued research reports about the company. TD Cowen increased their price target on Delta Air Lines from $55.00 to $61.00 and gave the stock a “buy” rating in a research note on Tuesday, July 2nd. HSBC began coverage on Delta Air Lines in a research note on Monday, May 13th. They issued a “buy” rating and a $72.80 price target on the stock. Bank of America upped their price objective on shares of Delta Air Lines from $53.00 to $55.00 and gave the company a “buy” rating in a research note on Thursday, April 11th. Morgan Stanley reissued an “overweight” rating and issued a $85.00 target price on shares of Delta Air Lines in a research report on Thursday, April 11th. Finally, Susquehanna upped their price target 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, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $60.36.

Delta Air Lines Stock Down 3.0 %

Shares of NYSE DAL opened at $43.62 on Thursday. The firm has a market cap of $28.15 billion, a P/E ratio of 5.61, a price-to-earnings-growth ratio of 0.82 and a beta of 1.35. The company has a debt-to-equity ratio of 1.48, a quick ratio of 0.36 and a current ratio of 0.41. Delta Air Lines has a 1 year low of $30.60 and a 1 year high of $53.86. The firm’s 50 day moving average price is $49.91 and its 200 day moving average price is $45.49.

Institutional Investors Weigh In On Delta Air Lines

Several hedge funds and other institutional investors have recently bought and sold shares of the business. QRG Capital Management Inc. raised its stake in shares of Delta Air Lines by 43.3% in the 2nd quarter. QRG Capital Management Inc. now owns 48,133 shares of the transportation company’s stock valued at $2,283,000 after purchasing an additional 14,539 shares in the last quarter. Capital Investment Advisors LLC raised its stake in Delta Air Lines by 12.4% during the second quarter. Capital Investment Advisors LLC now owns 31,432 shares of the transportation company’s stock valued at $1,491,000 after buying an additional 3,473 shares in the last quarter. Carolina Wealth Advisors LLC lifted its holdings in Delta Air Lines by 12.0% during the 2nd quarter. Carolina Wealth Advisors LLC now owns 13,750 shares of the transportation company’s stock worth $652,000 after buying an additional 1,477 shares during the last quarter. NBC Securities Inc. grew its position in shares of Delta Air Lines by 52.7% in the 2nd quarter. NBC Securities Inc. now owns 20,747 shares of the transportation company’s stock worth $984,000 after acquiring an additional 7,164 shares in the last quarter. Finally, Albion Financial Group UT increased its holdings in shares of Delta Air Lines by 191.2% in the 2nd quarter. Albion Financial Group UT now owns 1,523 shares of the transportation company’s stock valued at $72,000 after acquiring an additional 1,000 shares during the last quarter. 69.93% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Delta Air Lines

In other Delta Air Lines news, President Glen W. Hauenstein sold 100,000 shares of the company’s stock in a transaction that occurred on Monday, April 22nd. The stock was sold at an average price of $49.05, for a total value of $4,905,000.00. Following the completion of the transaction, the president now owns 217,584 shares in the company, valued at approximately $10,672,495.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, EVP Alain Bellemare sold 24,073 shares of Delta Air Lines stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $48.86, for a total transaction of $1,176,206.78. Following the sale, the executive vice president now directly owns 141,451 shares of the company’s stock, valued at $6,911,295.86. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, President Glen W. Hauenstein sold 100,000 shares of the business’s stock in a transaction dated Monday, April 22nd. The stock was sold at an average price of $49.05, for a total value of $4,905,000.00. Following the completion of the transaction, the president now owns 217,584 shares in the company, valued at approximately $10,672,495.20. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 178,919 shares of company stock worth $8,834,653. 0.96% of the stock is currently owned by company insiders.

Delta Air Lines Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, August 20th. Stockholders of record on Tuesday, July 30th will be given a $0.15 dividend. This is an increase from Delta Air Lines’s previous quarterly dividend of $0.10. The ex-dividend date of this dividend is Tuesday, July 30th. This represents a $0.60 annualized dividend and a dividend yield of 1.38%. Delta Air Lines’s dividend payout ratio is presently 5.14%.

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.