Delta Air Lines, Inc. (NYSE:DAL) announced a quarterly dividend on Wednesday, August 9th, RTT News reports. Shareholders of record on Wednesday, August 23rd will be paid a dividend of 0.305 per share by the transportation company on Wednesday, September 13th. This represents a $1.22 annualized dividend and a yield of 2.57%. The ex-dividend date of this dividend is Monday, August 21st. This is a boost from Delta Air Lines’s previous quarterly dividend of $0.20.
Delta Air Lines has raised its dividend by an average of 77.8% per year over the last three years and has raised its dividend every year for the last 3 years. Delta Air Lines has a dividend payout ratio of 22.1% indicating that its dividend is sufficiently covered by earnings. Analysts expect Delta Air Lines to earn $6.11 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 20.0%.
Shares of Delta Air Lines (NYSE DAL) remained flat at $47.53 during midday trading on Friday. The stock had a trading volume of 8,395,102 shares. The firm has a market capitalization of $34.60 billion, a PE ratio of 9.42 and a beta of 1.20. Delta Air Lines has a 1-year low of $35.90 and a 1-year high of $55.75. The company’s 50 day moving average price is $51.80 and its 200 day moving average price is $49.44. Delta Air Lines also was the target of some unusual options trading activity on Wednesday. Investors bought 20,043 call options on the company. This is an increase of 109% compared to the typical volume of 9,579 call options.
Delta Air Lines (NYSE:DAL) last announced its earnings results on Thursday, July 13th. The transportation company reported $1.64 EPS for the quarter, missing analysts’ consensus estimates of $1.66 by $0.02. Delta Air Lines had a net margin of 9.30% and a return on equity of 28.33%. The business had revenue of $10.79 billion during the quarter, compared to analysts’ expectations of $10.81 billion. During the same period in the previous year, the company posted $1.47 earnings per share. Delta Air Lines’s quarterly revenue was up 3.3% on a year-over-year basis. On average, equities research analysts forecast that Delta Air Lines will post $5.12 EPS for the current year.
In other news, VP Craig M. Meynard sold 5,000 shares of Delta Air Lines stock in a transaction that occurred on Friday, July 14th. The shares were sold at an average price of $55.26, for a total value of $276,300.00. Following the transaction, the vice president now directly owns 7,437 shares of the company’s stock, valued at $410,968.62. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Joanne D. Smith sold 3,700 shares of Delta Air Lines stock in a transaction that occurred on Wednesday, July 19th. The stock was sold at an average price of $54.00, for a total transaction of $199,800.00. Following the completion of the transaction, the executive vice president now directly owns 77,223 shares in the company, valued at $4,170,042. The disclosure for this sale can be found here. Over the last quarter, insiders purchased 389,000 shares of company stock worth $31,120 and sold 126,831 shares worth $6,703,732. 0.37% of the stock is owned by insiders.
DAL has been the subject of a number of research reports. Zacks Investment Research raised shares of Delta Air Lines from a “hold” rating to a “strong-buy” rating and set a $62.00 target price for the company in a report on Tuesday, July 4th. Vetr upgraded shares of Delta Air Lines from a “buy” rating to a “strong-buy” rating and set a $54.35 price target on the stock in a research report on Monday, May 8th. Bank of America Corporation raised their target price on shares of Delta Air Lines from $64.00 to $71.00 and gave the stock a “buy” rating in a research report on Friday, June 30th. Citigroup Inc. increased their price target on shares of Delta Air Lines from $63.00 to $65.00 and gave the stock a “buy” rating in a research note on Friday, May 12th. Finally, ValuEngine raised shares of Delta Air Lines from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, June 20th. Two research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and three have issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $60.56.
Delta Air Lines Company Profile
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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