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Delta Air Lines (DAL) Stock Sinks As Market Gains: What You Should Know
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In the latest trading session, Delta Air Lines (DAL - Free Report) closed at $36.45, marking a -1.49% move from the previous day. This change lagged the S&P 500's daily gain of 0.01%. At the same time, the Dow lost 0.22%, and the tech-heavy Nasdaq gained 0.67%.
Prior to today's trading, shares of the airline had lost 13.67% over the past month. This has lagged the Transportation sector's loss of 6.01% and the S&P 500's loss of 4.45% in that time.
Wall Street will be looking for positivity from Delta Air Lines as it approaches its next earnings report date. This is expected to be October 12, 2023. On that day, Delta Air Lines is projected to report earnings of $2.14 per share, which would represent year-over-year growth of 41.72%. Meanwhile, our latest consensus estimate is calling for revenue of $15.1 billion, up 8.07% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $6.29 per share and revenue of $56.25 billion, which would represent changes of +96.56% and +11.21%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Delta Air Lines. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for 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 5.61% lower. Delta Air Lines is currently sporting a Zacks Rank of #3 (Hold).
Investors should also note Delta Air Lines's current valuation metrics, including its Forward P/E ratio of 5.88. This represents a discount compared to its industry's average Forward P/E of 7.96.
Meanwhile, DAL's PEG ratio is currently 0.21. 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. The Transportation - Airline industry currently had an average PEG ratio of 0.32 as of yesterday's close.
The Transportation - Airline industry is part of the Transportation sector. This group has a Zacks Industry Rank of 181, putting it in the bottom 29% 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.
To follow DAL in the coming trading sessions, be sure to utilize Zacks.com.
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Delta Air Lines (DAL) Stock Sinks As Market Gains: What You Should Know
In the latest trading session, Delta Air Lines (DAL - Free Report) closed at $36.45, marking a -1.49% move from the previous day. This change lagged the S&P 500's daily gain of 0.01%. At the same time, the Dow lost 0.22%, and the tech-heavy Nasdaq gained 0.67%.
Prior to today's trading, shares of the airline had lost 13.67% over the past month. This has lagged the Transportation sector's loss of 6.01% and the S&P 500's loss of 4.45% in that time.
Wall Street will be looking for positivity from Delta Air Lines as it approaches its next earnings report date. This is expected to be October 12, 2023. On that day, Delta Air Lines is projected to report earnings of $2.14 per share, which would represent year-over-year growth of 41.72%. Meanwhile, our latest consensus estimate is calling for revenue of $15.1 billion, up 8.07% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $6.29 per share and revenue of $56.25 billion, which would represent changes of +96.56% and +11.21%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Delta Air Lines. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for 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 5.61% lower. Delta Air Lines is currently sporting a Zacks Rank of #3 (Hold).
Investors should also note Delta Air Lines's current valuation metrics, including its Forward P/E ratio of 5.88. This represents a discount compared to its industry's average Forward P/E of 7.96.
Meanwhile, DAL's PEG ratio is currently 0.21. 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. The Transportation - Airline industry currently had an average PEG ratio of 0.32 as of yesterday's close.
The Transportation - Airline industry is part of the Transportation sector. This group has a Zacks Industry Rank of 181, putting it in the bottom 29% 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.
To follow DAL in the coming trading sessions, be sure to utilize Zacks.com.