Delta Air Lines (NYSE:DAL) Releases Q1 2024 Earnings Guidance

Delta Air Lines (NYSE:DAL) updated its first quarter 2024 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of 0.250-0.500 for the period, compared to the consensus estimate of 0.360. The company issued revenue guidance of $12.4 billion-$12.6 billion, compared to the consensus revenue estimate of $12.5 billion. Delta Air Lines also updated its FY 2024 guidance to 6.000-7.000 EPS.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. StockNews.com lowered Delta Air Lines from a buy rating to a hold rating in a research report on Thursday, February 22nd. TheStreet raised Delta Air Lines from a c+ rating to a b- rating in a research report on Thursday, January 4th. One analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of Buy and a consensus price target of $55.54.

Delta Air Lines Stock Performance

Shares of NYSE DAL opened at $43.91 on Thursday. The company has a debt-to-equity ratio of 1.54, a quick ratio of 0.34 and a current ratio of 0.39. The firm has a market cap of $28.25 billion, a price-to-earnings ratio of 6.14, a P/E/G ratio of 0.69 and a beta of 1.42. The business’s 50-day simple moving average is $40.50 and its 200-day simple moving average is $38.51. Delta Air Lines has a 52 week low of $30.60 and a 52 week high of $49.81.

Delta Air Lines (NYSE:DAL) last issued its quarterly earnings data on Friday, January 12th. The transportation company reported $1.28 EPS for the quarter, beating analysts’ consensus estimates of $1.17 by $0.11. The business had revenue of $14.22 billion for the quarter, compared to analyst estimates of $13.55 billion. Delta Air Lines had a return on equity of 46.35% and a net margin of 7.94%. The firm’s revenue for the quarter was up 5.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.48 EPS. As a group, equities research analysts expect that Delta Air Lines will post 6.57 earnings per share for the current fiscal year.

Delta Air Lines Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 18th. Investors of record on Monday, February 26th will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.91%. The ex-dividend date of this dividend is Friday, February 23rd. Delta Air Lines’s dividend payout ratio (DPR) is currently 5.59%.

Insider Buying and Selling

In related news, CEO Edward H. Bastian sold 71,840 shares of the business’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $39.20, for a total transaction of $2,816,128.00. Following the transaction, the chief executive officer now owns 428,768 shares of the company’s stock, valued at $16,807,705.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.89% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Delta Air Lines

Institutional investors and hedge funds have recently bought and sold shares of the stock. Candriam Luxembourg S.C.A. acquired a new stake in Delta Air Lines during the first quarter worth $502,000. Main Street Group LTD acquired a new stake in Delta Air Lines during the fourth quarter worth $25,000. Tyler Stone Wealth Management acquired a new stake in Delta Air Lines during the second quarter worth $36,000. Coppell Advisory Solutions Corp. acquired a new stake in Delta Air Lines during the fourth quarter worth $28,000. Finally, O Dell Group LLC acquired a new stake in Delta Air Lines during the fourth quarter worth $37,000. Institutional investors own 71.29% 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.