Delta Air Lines (NYSE:DAL) Releases FY24 Earnings Guidance

Delta Air Lines (NYSE:DAL) issued an update on its FY24 earnings guidance on Thursday morning. The company provided earnings per share guidance of $6.00-7.00 for the period, compared to the consensus earnings per share estimate of $6.58. Delta Air Lines also updated its FY 2024 guidance to 6.000-7.000 EPS.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on DAL shares. TD Cowen upped their price objective on shares of Delta Air Lines from $55.00 to $61.00 and gave the company a buy rating in a report on Tuesday, July 2nd. Deutsche Bank Aktiengesellschaft increased their price target on Delta Air Lines from $50.00 to $60.00 and gave the stock a buy rating in a report on Thursday, April 11th. Morgan Stanley restated an overweight rating and set a $85.00 price objective on shares of Delta Air Lines in a report on Thursday, April 11th. Citigroup upped their target price on Delta Air Lines from $55.00 to $65.00 and gave the stock a buy rating in a research report on Wednesday, May 29th. Finally, Bank of America boosted their price target 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. One equities research analyst has rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of Buy and a consensus price target of $60.30.

Delta Air Lines Stock Down 3.9 %

Delta Air Lines stock traded down $1.83 during midday trading on Thursday, hitting $45.03. 33,837,314 shares of the stock were exchanged, compared to its average volume of 9,653,534. The company has a quick ratio of 0.36, a current ratio of 0.41 and a debt-to-equity ratio of 1.48. The stock has a market capitalization of $29.06 billion, a price-to-earnings ratio of 5.53, a price-to-earnings-growth ratio of 0.69 and a beta of 1.35. Delta Air Lines has a 52-week low of $30.60 and a 52-week high of $53.86. The business’s 50-day moving average price is $50.19 and its 200-day moving average price is $45.48.

Delta Air Lines (NYSE:DAL) last announced its 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). The business had revenue of $15.41 billion during the quarter, compared to analysts’ expectations of $15.45 billion. Delta Air Lines had a return on equity of 41.89% and a net margin of 8.48%. Delta Air Lines’s quarterly revenue was up 5.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.68 EPS. On average, research analysts expect that Delta Air Lines will post 6.55 EPS for the current fiscal year.

Delta Air Lines Increases Dividend

The firm 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 dividend of $0.15 per share. The ex-dividend date of this dividend is Tuesday, July 30th. This is a positive change from Delta Air Lines’s previous quarterly dividend of $0.10. This represents a $0.60 annualized dividend and a dividend yield of 1.33%. Delta Air Lines’s dividend payout ratio (DPR) is currently 5.14%.

Insider Buying and Selling

In other news, President Glen W. Hauenstein sold 100,000 shares of the stock in a transaction that occurred on Monday, April 22nd. The shares were sold at an average price of $49.05, for a total transaction of $4,905,000.00. Following the completion of the transaction, the president now directly owns 217,584 shares of the company’s stock, valued at approximately $10,672,495.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Delta Air Lines news, President Glen W. Hauenstein sold 100,000 shares of the business’s stock in a transaction 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 sale, the president now directly owns 217,584 shares in the company, valued at $10,672,495.20. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Peter W. Carter sold 50,000 shares of the company’s stock in a transaction on Monday, April 29th. The shares were sold at an average price of $50.00, for a total value of $2,500,000.00. Following the transaction, the executive vice president now directly owns 143,328 shares in the company, valued at approximately $7,166,400. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 178,919 shares of company stock valued at $8,834,653. 0.96% of the stock is owned by insiders.

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.