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Delta Air Lines (DAL) Stock Sinks As Market Gains: What You Should Know
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Delta Air Lines (DAL - Free Report) closed at $46.31 in the latest trading session, marking a -0.86% move from the prior day. This change lagged the S&P 500's 0.45% gain on the day. At the same time, the Dow added 0.8%, and the tech-heavy Nasdaq gained 1.99%.
Prior to today's trading, shares of the airline had gained 28.57% over the past month. This has outpaced the Transportation sector's gain of 7% and the S&P 500's gain of 4.25% 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. On that day, Delta Air Lines is projected to report earnings of $2.23 per share, which would represent year-over-year growth of 54.86%.
For the full year, our Zacks Consensus Estimates are projecting earnings of $5.82 per share and revenue of $57.15 billion, which would represent changes of +81.88% and +12.99%, respectively, from the prior year.
Any recent changes to analyst estimates for Delta Air Lines should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 13.1% higher. Delta Air Lines is holding a Zacks Rank of #2 (Buy) right now.
Digging into valuation, Delta Air Lines currently has a Forward P/E ratio of 8.02. For comparison, its industry has an average Forward P/E of 11.82, 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. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. Transportation - Airline stocks are, on average, holding a PEG ratio of 0.29 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 40, which puts it in the top 16% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Delta Air Lines (DAL) Stock Sinks As Market Gains: What You Should Know
Delta Air Lines (DAL - Free Report) closed at $46.31 in the latest trading session, marking a -0.86% move from the prior day. This change lagged the S&P 500's 0.45% gain on the day. At the same time, the Dow added 0.8%, and the tech-heavy Nasdaq gained 1.99%.
Prior to today's trading, shares of the airline had gained 28.57% over the past month. This has outpaced the Transportation sector's gain of 7% and the S&P 500's gain of 4.25% 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. On that day, Delta Air Lines is projected to report earnings of $2.23 per share, which would represent year-over-year growth of 54.86%.
For the full year, our Zacks Consensus Estimates are projecting earnings of $5.82 per share and revenue of $57.15 billion, which would represent changes of +81.88% and +12.99%, respectively, from the prior year.
Any recent changes to analyst estimates for Delta Air Lines should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 13.1% higher. Delta Air Lines is holding a Zacks Rank of #2 (Buy) right now.
Digging into valuation, Delta Air Lines currently has a Forward P/E ratio of 8.02. For comparison, its industry has an average Forward P/E of 11.82, 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. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. Transportation - Airline stocks are, on average, holding a PEG ratio of 0.29 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 40, which puts it in the top 16% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.