Delta Air Lines, Inc. (NYSE:DAL) announced a quarterly dividend on Thursday, July 11th, RTT News reports. Stockholders of record on Thursday, July 25th will be paid a dividend of 0.4025 per share by the transportation company on Thursday, August 15th. This represents a $1.61 dividend on an annualized basis and a dividend yield of 2.63%. The ex-dividend date is Wednesday, July 24th. This is a positive change from Delta Air Lines’s previous quarterly dividend of $0.35.
Delta Air Lines has increased its dividend by an average of 42.8% per year over the last three years and has raised its dividend annually for the last 5 consecutive years. Delta Air Lines has a payout ratio of 28.8% meaning its dividend is sufficiently covered by earnings. Research analysts expect Delta Air Lines to earn $7.36 per share next year, which means the company should continue to be able to cover its $1.61 annual dividend with an expected future payout ratio of 21.9%.
Shares of Delta Air Lines stock opened at $61.29 on Tuesday. The stock’s 50 day moving average price is $57.75. Delta Air Lines has a 1-year low of $45.08 and a 1-year high of $63.27. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.29 and a current ratio of 0.34. The company has a market cap of $39.60 billion, a P/E ratio of 10.85, a PEG ratio of 0.48 and a beta of 1.18.
In other Delta Air Lines news, Director Michael P. Huerta sold 1,010 shares of the company’s stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $54.33, for a total value of $54,873.30. Following the completion of the transaction, the director now directly owns 5,670 shares in the company, valued at approximately $308,051.10. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Steven M. Sear sold 8,993 shares of the company’s stock in a transaction that occurred on Wednesday, May 29th. The shares were sold at an average price of $53.27, for a total transaction of $479,057.11. Following the completion of the transaction, the insider now owns 76,150 shares of the company’s stock, valued at $4,056,510.50. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 76,729 shares of company stock valued at $4,728,806. Corporate insiders own 0.47% of the company’s stock.
A number of equities analysts recently issued reports on the stock. Credit Suisse Group upped their price objective on shares of Delta Air Lines from $37.00 to $68.00 and gave the stock an “outperform” rating in a research report on Thursday, April 11th. Zacks Investment Research upgraded shares of GCP Applied Technologies from a “sell” rating to a “hold” rating in a research report on Friday, May 31st. Raymond James set a $19.00 price objective on shares of Patterson-UTI Energy and gave the stock a “buy” rating in a research report on Friday, July 12th. Cowen reiterated an “outperform” rating and set a $69.00 price objective (up from $67.00) on shares of Delta Air Lines in a research report on Thursday, July 11th. Finally, Morgan Stanley set a $207.00 price objective on shares of Alibaba Group and gave the stock a “buy” rating in a research report on Friday, July 12th. Six research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $67.56.
About Delta Air Lines
Delta Air Lines, Inc provides scheduled air transportation for passengers and cargo in the United States and internationally. The company operates through two segments, Airline and Refinery. Its route network is centered on a system of hubs and markets at airports in Amsterdam, Atlanta, Boston, Detroit, London-Heathrow, Los Angeles, Mexico City, Minneapolis-St.
Read More: Outperform Rating
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