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Delta Air Lines (DAL) Dips More Than Broader Markets: What You Should Know
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In the latest trading session, Delta Air Lines (DAL - Free Report) closed at $42.48, marking a -0.72% move from the previous day. This move lagged the S&P 500's daily loss of 0.47%. Elsewhere, the Dow lost 0.72%, while the tech-heavy Nasdaq lost 5.08%.
Heading into today, shares of the airline had gained 20.67% over the past month, outpacing the Transportation sector's gain of 4.05% and the S&P 500's gain of 5.36% in that time.
Delta Air Lines will be looking to display strength as it nears its next earnings release, which is expected to be July 13, 2023. In that report, analysts expect Delta Air Lines to post earnings of $2.05 per share. This would mark year-over-year growth of 42.36%. Meanwhile, our latest consensus estimate is calling for revenue of $14.91 billion, up 7.88% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $5.50 per share and revenue of $55.36 billion. These totals would mark changes of +71.88% and +9.45%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for Delta Air Lines. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 1.78% higher. Delta Air Lines currently has a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Delta Air Lines has a Forward P/E ratio of 7.79 right now. For comparison, its industry has an average Forward P/E of 10.71, which means Delta Air Lines is trading at a discount to the group.
Also, we should mention that DAL has a PEG ratio of 0.22. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. Transportation - Airline stocks are, on average, holding a PEG ratio of 0.33 based on yesterday's closing prices.
The Transportation - Airline industry is part of the Transportation sector. This industry currently has a Zacks Industry Rank of 65, which puts it in the top 26% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Delta Air Lines (DAL) Dips More Than Broader Markets: What You Should Know
In the latest trading session, Delta Air Lines (DAL - Free Report) closed at $42.48, marking a -0.72% move from the previous day. This move lagged the S&P 500's daily loss of 0.47%. Elsewhere, the Dow lost 0.72%, while the tech-heavy Nasdaq lost 5.08%.
Heading into today, shares of the airline had gained 20.67% over the past month, outpacing the Transportation sector's gain of 4.05% and the S&P 500's gain of 5.36% in that time.
Delta Air Lines will be looking to display strength as it nears its next earnings release, which is expected to be July 13, 2023. In that report, analysts expect Delta Air Lines to post earnings of $2.05 per share. This would mark year-over-year growth of 42.36%. Meanwhile, our latest consensus estimate is calling for revenue of $14.91 billion, up 7.88% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $5.50 per share and revenue of $55.36 billion. These totals would mark changes of +71.88% and +9.45%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for Delta Air Lines. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 1.78% higher. Delta Air Lines currently has a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Delta Air Lines has a Forward P/E ratio of 7.79 right now. For comparison, its industry has an average Forward P/E of 10.71, which means Delta Air Lines is trading at a discount to the group.
Also, we should mention that DAL has a PEG ratio of 0.22. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. Transportation - Airline stocks are, on average, holding a PEG ratio of 0.33 based on yesterday's closing prices.
The Transportation - Airline industry is part of the Transportation sector. This industry currently has a Zacks Industry Rank of 65, which puts it in the top 26% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.