Delta Air Lines, Inc. (NYSE:DAL – Get Rating) – Equities researchers at Jefferies Financial Group increased their Q4 2022 earnings per share (EPS) estimates for Delta Air Lines in a research report issued on Tuesday, October 4th. Jefferies Financial Group analyst S. Kahyaoglu now anticipates that the transportation company will post earnings per share of $0.57 for the quarter, up from their prior forecast of $0.50. The consensus estimate for Delta Air Lines' current full-year earnings is $2.78 per share. Jefferies Financial Group also issued estimates for Delta Air Lines' FY2023 earnings at $3.15 EPS.
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Delta Air Lines (NYSE:DAL – Get Rating) last issued its quarterly earnings results on Wednesday, July 13th. The transportation company reported $1.44 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.71 by ($0.27). Delta Air Lines had a return on equity of 14.26% and a net margin of 1.43%. The business had revenue of $13.82 billion during the quarter, compared to analyst estimates of $13.40 billion. During the same period in the previous year, the business posted ($1.07) earnings per share. The firm's quarterly revenue was up 93.9% on a year-over-year basis.
Several other research firms also recently issued reports on DAL. Evercore ISI dropped their price objective on Delta Air Lines from $65.00 to $56.00 and set an "outperform" rating on the stock in a report on Monday, June 27th. Deutsche Bank Aktiengesellschaft reduced their price objective on Delta Air Lines from $55.00 to $47.00 and set a "buy" rating for the company in a research report on Thursday, July 14th. Susquehanna Bancshares reduced their price target on Delta Air Lines from $47.00 to $35.00 and set a "positive" rating for the company in a research report on Tuesday, July 12th. Berenberg Bank reduced their price target on Delta Air Lines from $54.00 to $48.50 in a research report on Wednesday, July 20th. Finally, Melius began coverage on Delta Air Lines in a research note on Monday, August 15th. They issued a "buy" rating on the stock. Four investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $49.62.
Delta Air Lines Stock Performance
Shares of NYSE:DAL opened at $30.52 on Wednesday. The company has a market cap of $19.57 billion, a P/E ratio of 33.17 and a beta of 1.17. The company has a debt-to-equity ratio of 6.01, a quick ratio of 0.59 and a current ratio of 0.66. Delta Air Lines has a one year low of $27.20 and a one year high of $46.27. The business's 50-day simple moving average is $32.02 and its 200 day simple moving average is $34.98.
Institutional Inflows and Outflows
Institutional investors have recently added to or reduced their stakes in the company. AdvisorNet Financial Inc boosted its position in Delta Air Lines by 6.9% during the third quarter. AdvisorNet Financial Inc now owns 14,691 shares of the transportation company's stock valued at $412,000 after acquiring an additional 951 shares during the last quarter. Red Spruce Capital LLC increased its stake in shares of Delta Air Lines by 3.6% during the 3rd quarter. Red Spruce Capital LLC now owns 46,860 shares of the transportation company's stock worth $1,315,000 after purchasing an additional 1,642 shares during the last quarter. Symmetry Partners LLC purchased a new stake in shares of Delta Air Lines during the 3rd quarter worth approximately $290,000. Brown Advisory Inc. increased its stake in shares of Delta Air Lines by 4.3% during the 2nd quarter. Brown Advisory Inc. now owns 61,636 shares of the transportation company's stock worth $1,786,000 after purchasing an additional 2,559 shares during the last quarter. Finally, B. Riley Wealth Management Inc. boosted its holdings in Delta Air Lines by 114.8% in the 2nd quarter. B. Riley Wealth Management Inc. now owns 12,148 shares of the transportation company's stock worth $352,000 after buying an additional 6,493 shares during the period. 67.90% of the stock is currently owned by institutional investors and hedge funds.
Insiders Place Their Bets
In other news, Director David S. Taylor acquired 10,000 shares of Delta Air Lines stock in a transaction dated Thursday, July 14th. The stock was bought at an average price of $29.31 per share, for a total transaction of $293,100.00. Following the completion of the acquisition, the director now directly owns 43,010 shares in the company, valued at approximately $1,260,623.10. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.84% of the company's stock.
About Delta Air Lines
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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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