Delta Air Lines, Inc. to Issue Quarterly Dividend of $0.31 (DAL)
Delta Air Lines, Inc. (NYSE:DAL) declared a quarterly dividend on Friday, November 3rd, RTT News reports. Shareholders of record on Friday, November 17th will be paid a dividend of 0.305 per share by the transportation company on Friday, December 8th. This represents a $1.22 annualized dividend and a yield of 2.42%.
Delta Air Lines has raised its dividend by an average of 77.8% annually over the last three years and has increased its dividend annually for the last 3 consecutive years. Delta Air Lines has a dividend payout ratio of 24.4% meaning its dividend is sufficiently covered by earnings. 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 (NYSE DAL) traded up $0.31 during trading on Friday, hitting $50.34. The company’s stock had a trading volume of 6,375,160 shares, compared to its average volume of 6,776,434. The stock has a market cap of $35,891.07, a P/E ratio of 10.49 and a beta of 1.28.
Delta Air Lines (NYSE:DAL) last posted its quarterly earnings results on Wednesday, October 11th. The transportation company reported $1.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.53 by $0.04. The firm had revenue of $11.06 billion for the quarter, compared to analysts’ expectations of $11.03 billion. Delta Air Lines had a return on equity of 26.50% and a net margin of 8.97%. The company’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same period in the prior year, the business earned $1.70 EPS. analysts anticipate that Delta Air Lines will post 5.01 earnings per share for the current fiscal year.
A number of equities analysts have recently weighed in on DAL shares. Stifel Nicolaus reaffirmed a “buy” rating and set a $80.00 target price (up from $75.00) on shares of Delta Air Lines in a research report on Friday, July 14th. Deutsche Bank AG reaffirmed a “buy” rating and set a $62.00 target price (up from $58.00) on shares of Delta Air Lines in a research report on Friday, July 14th. BidaskClub lowered Delta Air Lines from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 24th. Vetr raised Delta Air Lines from a “hold” rating to a “buy” rating and set a $56.43 target price on the stock in a research report on Tuesday, July 18th. Finally, ValuEngine lowered Delta Air Lines from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 11th. Two analysts have rated the stock with a sell rating, sixteen have issued 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 an average price target of $64.16.
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In other Delta Air Lines news, CEO Edward H. Bastian sold 159,240 shares of the company’s stock in a transaction on Thursday, October 12th. The stock was sold at an average price of $53.06, for a total value of $8,449,274.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Joanne D. Smith sold 33,863 shares of the company’s stock in a transaction on Friday, October 13th. The shares were sold at an average price of $53.61, for a total value of $1,815,395.43. The disclosure for this sale can be found here. In the last 90 days, insiders acquired 20,000 shares of company stock valued at $273,760 and sold 200,001 shares valued at $10,630,333. 0.37% of the stock is owned by corporate insiders.
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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