Delta Air Lines, Inc. (NYSE:DAL) declared a quarterly dividend on Friday, February 9th, RTT News reports. Stockholders of record on Friday, February 23rd will be paid a dividend of 0.305 per share by the transportation company on Friday, March 16th. This represents a $1.22 dividend on an annualized basis and a dividend yield of 2.42%.
Delta Air Lines has raised its dividend by an average of 50.1% per year over the last three years and has increased its dividend annually for the last 4 consecutive years. Delta Air Lines has a payout ratio of 19.7% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Delta Air Lines to earn $7.03 per share next year, which means the company should continue to be able to cover its $1.22 annual dividend with an expected future payout ratio of 17.4%.
Delta Air Lines (DAL) opened at $50.46 on Friday. Delta Air Lines has a 12-month low of $43.81 and a 12-month high of $60.79. The company has a market cap of $35,440.00, a PE ratio of 10.21, a PEG ratio of 0.69 and a beta of 1.14. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.42 and a quick ratio of 0.35.
DAL has been the subject of a number of analyst reports. Stephens set a $67.00 price objective on shares of Delta Air Lines and gave the company a “buy” rating in a research report on Monday, December 18th. Zacks Investment Research raised shares of Delta Air Lines from a “hold” rating to a “buy” rating and set a $59.00 price objective for the company in a research report on Thursday. Sanford C. Bernstein set a $67.00 price objective on shares of Delta Air Lines and gave the company a “buy” rating in a research report on Wednesday, January 10th. Stifel Nicolaus reissued a “buy” rating and issued a $85.00 price objective (up previously from $75.00) on shares of Delta Air Lines in a research report on Wednesday, January 10th. Finally, Imperial Capital reissued an “outperform” rating and issued a $65.00 price objective (up previously from $63.00) on shares of Delta Air Lines in a research report on Friday, January 12th. Two equities research analysts have rated the stock with a sell rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. Delta Air Lines currently has a consensus rating of “Buy” and a consensus price target of $65.35.
In related news, EVP Peter W. Carter sold 19,809 shares of Delta Air Lines stock in a transaction dated Tuesday, November 21st. The shares were sold at an average price of $50.42, for a total transaction of $998,769.78. Following the completion of the sale, the executive vice president now owns 67,077 shares of the company’s stock, valued at approximately $3,382,022.34. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Edward H. Bastian sold 20,000 shares of Delta Air Lines stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $52.79, for a total transaction of $1,055,800.00. The disclosure for this sale can be found here. Insiders have sold a total of 363,447 shares of company stock valued at $20,591,693 in the last ninety days. 0.37% of the stock is currently owned by insiders.
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About Delta Air Lines
Delta Air Lines, Inc provides scheduled air transportation for passengers and cargo throughout the United States and across the world. The Company’s segments include Airline and Refinery. The Company’s route network is centered around a system of hub, international gateway and airports that the Company operates in Amsterdam, Atlanta, Boston, Detroit, London-Heathrow, Los Angeles, Minneapolis-St.
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