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

Delta Air Lines, Inc. (NYSE:DAL) – Research analysts at Zacks Research boosted their Q2 2024 earnings estimates for shares of Delta Air Lines in a note issued to investors on Wednesday, May 1st. Zacks Research analyst M. Basu now anticipates that the transportation company will post earnings of $2.48 per share for the quarter, up from their previous estimate 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.

Other analysts have also recently issued research reports about the stock. StockNews.com cut shares of Delta Air Lines from a “buy” rating to a “hold” rating in a report on Thursday, February 22nd. Morgan Stanley reiterated an “overweight” rating and set a $85.00 price target on shares of Delta Air Lines in a research note on Thursday, April 11th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Delta Air Lines from $50.00 to $60.00 and gave the company a “buy” rating in a research note on Thursday, April 11th. UBS Group began coverage on Delta Air Lines in a report on Wednesday, March 20th. They set a “buy” rating and a $59.00 price objective on the stock. Finally, Bank of America boosted their target price on Delta Air Lines from $53.00 to $55.00 and gave the company a “buy” rating in a report on Thursday, April 11th. One investment analyst has rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $58.29.

Delta Air Lines Price Performance

DAL stock opened at $51.55 on Friday. The business has a 50 day moving average price of $45.98 and a 200 day moving average price of $40.72. 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 cap of $32.99 billion, a price-to-earnings ratio of 6.63, a PEG ratio of 0.76 and a beta of 1.38. Delta Air Lines has a fifty-two week low of $30.60 and a fifty-two week high of $51.65.

Delta Air Lines (NYSE:DAL) last posted its quarterly earnings results on Thursday, April 11th. The transportation company reported $0.45 earnings per share for the quarter, beating analysts’ consensus estimates of $0.36 by $0.09. The company had revenue of $13.75 billion for the quarter, compared to analysts’ expectations of $12.51 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 7.8% on a year-over-year basis. During the same period last year, the firm earned $0.25 earnings per share.

Delta Air Lines Dividend Announcement

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

Insider Buying and Selling at Delta Air Lines

In other news, EVP Alain Bellemare sold 24,073 shares of the company’s stock in a transaction that occurred on 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 completion of 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 Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Alain Bellemare sold 24,073 shares of the business’s stock in a transaction dated 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 directly owns 141,451 shares in the company, valued at $6,911,295.86. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Willie Cw Chiang acquired 10,000 shares of Delta Air Lines stock in a transaction that occurred on Wednesday, May 1st. The stock was purchased at an average price of $49.50 per share, with a total value of $495,000.00. Following the transaction, the director now owns 10,000 shares of the company’s stock, valued at $495,000. The disclosure for this purchase can be found here. In the last ninety days, insiders have sold 174,073 shares of company stock worth $8,581,207. 0.89% of the stock is currently owned by insiders.

Institutional Trading of Delta Air Lines

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Migdal Insurance & Financial Holdings Ltd. grew its stake in Delta Air Lines by 495.7% in the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 685 shares of the transportation company’s stock worth $25,000 after acquiring an additional 570 shares during the period. MeadowBrook Investment Advisors LLC purchased a new stake in shares of Delta Air Lines in the fourth quarter valued at $27,000. Venturi Wealth Management LLC increased its stake in Delta Air Lines by 396.6% in the fourth quarter. Venturi Wealth Management LLC now owns 720 shares of the transportation company’s stock valued at $29,000 after purchasing an additional 575 shares during the last quarter. Manchester Capital Management LLC lifted its position in Delta Air Lines by 26,166.7% during the fourth quarter. Manchester Capital Management LLC now owns 788 shares of the transportation company’s stock worth $32,000 after buying an additional 785 shares during the period. Finally, Headlands Technologies LLC acquired a new stake in Delta Air Lines in the 3rd quarter worth about $35,000. Hedge funds and other institutional investors own 69.93% of the company’s stock.

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.