Delta Air Lines, Inc. (NYSE:DAL – Get Rating) – Equities research analysts at Seaport Res Ptn upped their Q4 2023 earnings per share estimates for Delta Air Lines in a report issued on Wednesday, June 21st. Seaport Res Ptn analyst D. Mckenzie now anticipates that the transportation company will post earnings of $1.70 per share for the quarter, up from their prior estimate of $1.60. The consensus estimate for Delta Air Lines’ current full-year earnings is $5.49 per share.
Several other equities research analysts have also recently commented on DAL. JPMorgan Chase & Co. cut their price target on Delta Air Lines from $81.00 to $69.00 in a research note on Monday, May 8th. StockNews.com upgraded Delta Air Lines from a “hold” rating to a “buy” rating in a research note on Wednesday. Bank of America cut their price objective on Delta Air Lines from $43.00 to $40.00 and set a “buy” rating for the company in a research report on Friday, April 14th. Morgan Stanley increased their price objective on Delta Air Lines from $65.00 to $70.00 and gave the stock an “equal weight” rating in a research report on Friday, April 14th. Finally, Evercore ISI upgraded Delta Air Lines from an “in-line” rating to an “outperform” rating and increased their price objective for the stock from $40.00 to $47.00 in a research report on Tuesday, March 7th. One equities research analyst has rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $49.38.
Delta Air Lines Price Performance
Delta Air Lines (NYSE:DAL – Get Rating) last released its quarterly earnings results on Thursday, April 13th. The transportation company reported $0.25 EPS for the quarter, missing the consensus estimate of $0.29 by ($0.04). Delta Air Lines had a return on equity of 56.49% and a net margin of 3.51%. The company had revenue of $12.76 billion for the quarter, compared to analysts’ expectations of $12.25 billion. During the same quarter last year, the company earned ($1.23) EPS. Delta Air Lines’s revenue for the quarter was up 36.5% compared to the same quarter last year.
Delta Air Lines Cuts Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 7th. Investors of record on Monday, July 17th will be paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.93%. The ex-dividend date is Friday, July 14th.
Insider Activity at Delta Air Lines
In related news, EVP Joanne D. Smith sold 7,513 shares of the stock in a transaction on Wednesday, May 31st. The stock was sold at an average price of $36.90, for a total transaction of $277,229.70. Following the sale, the executive vice president now owns 107,782 shares of the company’s stock, valued at $3,977,155.80. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Delta Air Lines news, EVP Joanne D. Smith sold 7,513 shares of the firm’s stock in a transaction dated Wednesday, May 31st. The stock was sold at an average price of $36.90, for a total value of $277,229.70. Following the sale, the executive vice president now directly owns 107,782 shares of the company’s stock, valued at approximately $3,977,155.80. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director David S. Taylor purchased 5,000 shares of the firm’s stock in a transaction on Wednesday, April 26th. The stock was acquired at an average cost of $32.83 per share, for a total transaction of $164,150.00. Following the completion of the purchase, the director now owns 25,360 shares in the company, valued at approximately $832,568.80. The disclosure for this purchase can be found here. Insiders have purchased a total of 15,000 shares of company stock valued at $503,250 over the last quarter. Insiders own 0.89% of the company’s stock.
Institutional Trading of Delta Air Lines
A number of hedge funds have recently added to or reduced their stakes in the business. Ameritas Advisory Services LLC boosted its stake in Delta Air Lines by 2.1% in the 4th quarter. Ameritas Advisory Services LLC now owns 12,655 shares of the transportation company’s stock worth $416,000 after buying an additional 263 shares during the last quarter. Argent Advisors Inc. raised its holdings in shares of Delta Air Lines by 1.6% in the 4th quarter. Argent Advisors Inc. now owns 16,912 shares of the transportation company’s stock worth $556,000 after purchasing an additional 274 shares during the period. CVA Family Office LLC raised its holdings in shares of Delta Air Lines by 7.5% in the 4th quarter. CVA Family Office LLC now owns 3,973 shares of the transportation company’s stock worth $131,000 after purchasing an additional 278 shares during the period. Main Street Financial Solutions LLC raised its holdings in shares of Delta Air Lines by 3.3% in the 1st quarter. Main Street Financial Solutions LLC now owns 9,113 shares of the transportation company’s stock worth $318,000 after purchasing an additional 291 shares during the period. Finally, Forum Financial Management LP raised its holdings in shares of Delta Air Lines by 3.5% in the 1st quarter. Forum Financial Management LP now owns 8,675 shares of the transportation company’s stock worth $343,000 after purchasing an additional 292 shares during the period. 68.35% of the stock is owned by institutional investors and hedge funds.
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, Mexico City, London-Heathrow, Paris-Charles de Gaulle, and Seoul-Incheon.
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