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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 $38.46, marking a -1% move from the previous day. This change lagged the S&P 500's 0.07% gain on the day. Meanwhile, the Dow gained 0.12%, and the Nasdaq, a tech-heavy index, lost 1.47%.
Heading into today, shares of the airline had lost 1.84% over the past month, lagging the Transportation sector's gain of 0.23% and outpacing the S&P 500's loss of 2% in that time.
Wall Street will be looking for positivity from Delta Air Lines as it approaches its next earnings report date. On that day, Delta Air Lines is projected to report earnings of $0.32 per share, which would represent year-over-year growth of 126.02%. Our most recent consensus estimate is calling for quarterly revenue of $12.62 billion, up 35.01% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $5.16 per share and revenue of $55.37 billion. These totals would mark changes of +61.25% and +9.47%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for Delta Air Lines. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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 0.04% higher. Delta Air Lines currently has a Zacks Rank of #3 (Hold).
Looking at its valuation, Delta Air Lines is holding a Forward P/E ratio of 7.53. This represents a discount compared to its industry's average Forward P/E of 13.12.
The Transportation - Airline industry is part of the Transportation sector. This group has a Zacks Industry Rank of 66, putting it in the top 27% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.