Delta Air Lines, Inc. (NYSE:DAL) announced a quarterly dividend on Friday, November 3rd, RTT News reports. Stockholders of record on Friday, November 17th will be given a dividend of 0.305 per share by the transportation company on Friday, December 8th. This represents a $1.22 annualized dividend and a dividend yield of 2.42%.
Delta Air Lines has raised its dividend payment by an average of 77.8% annually 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 24.4% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Delta Air Lines to earn $5.47 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 22.3%.
Delta Air Lines (DAL) traded up $0.31 during trading hours on Friday, hitting $50.34. 6,375,160 shares of the company’s stock traded hands, compared to its average volume of 6,776,434. The firm has a market cap of $35,891.07, a price-to-earnings ratio of 10.49 and a beta of 1.28.
Delta Air Lines (NYSE:DAL) last issued its earnings results on Wednesday, October 11th. The transportation company reported $1.57 EPS for the quarter, topping analysts’ consensus estimates of $1.53 by $0.04. The firm had revenue of $11.06 billion during the quarter, compared to the consensus estimate of $11.03 billion. Delta Air Lines had a net margin of 8.97% and a return on equity of 26.50%. The company’s revenue was up 5.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.70 earnings per share. equities analysts expect that Delta Air Lines will post 5.01 EPS for the current year.
In other news, Director George N. Mattson acquired 6,000 shares of Delta Air Lines stock in a transaction dated Thursday, August 24th. The stock was acquired at an average cost of $45.44 per share, for a total transaction of $272,640.00. Following the completion of the purchase, the director now owns 61,510 shares of the company’s stock, valued at $2,795,014.40. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Joanne D. Smith sold 33,863 shares of the business’s stock in a transaction on Friday, October 13th. The stock was sold at an average price of $53.61, for a total transaction of $1,815,395.43. The disclosure for this sale can be found here. Over the last three months, insiders acquired 20,000 shares of company stock valued at $273,760 and sold 200,001 shares valued at $10,630,333. Insiders own 0.37% of the company’s stock.
A number of brokerages have issued reports on DAL. BidaskClub cut shares of Delta Air Lines from a “strong-buy” rating to a “buy” rating in a report on Monday, July 24th. Barclays PLC initiated coverage on shares of Delta Air Lines in a research report on Thursday, August 10th. They issued an “overweight” rating and a $70.00 price target on the stock. Morgan Stanley reiterated an “overweight” rating on shares of Delta Air Lines in a research report on Tuesday, September 12th. Sanford C. Bernstein reiterated an “outperform” rating and issued a $60.00 price target on shares of Delta Air Lines in a research report on Thursday, July 13th. Finally, UBS AG reiterated a “buy” rating and issued a $62.00 price target (down from $65.00) on shares of Delta Air Lines in a research report on Saturday, September 30th. Two research analysts have rated the stock with a sell rating, sixteen have given a buy rating and two have issued a strong buy rating to the company. Delta Air Lines currently has an average rating of “Buy” and a consensus price target of $64.16.
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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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