Delta Air Lines, Inc. (DAL) to Issue Quarterly Dividend of $0.15 on August 20th

Delta Air Lines, Inc. (NYSE:DAL) declared a quarterly dividend on Thursday, June 20th, RTT News reports. Stockholders of record on Tuesday, July 30th will be paid a dividend of 0.15 per share by the transportation company on Tuesday, August 20th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.22%. This is a positive change from Delta Air Lines’s previous quarterly dividend of $0.10.

Delta Air Lines has decreased its dividend payment by an average of 20.8% per year over the last three years. Delta Air Lines has a payout ratio of 5.2% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Delta Air Lines to earn $7.52 per share next year, which means the company should continue to be able to cover its $0.40 annual dividend with an expected future payout ratio of 5.3%.

Delta Air Lines Stock Down 0.5 %

DAL opened at $49.35 on Friday. Delta Air Lines has a 52 week low of $30.60 and a 52 week high of $53.86. The business has a 50 day moving average price of $50.51 and a two-hundred day moving average price of $44.84. The company has a quick ratio of 0.36, a current ratio of 0.41 and a debt-to-equity ratio of 1.48. The company has a market cap of $31.85 billion, a PE ratio of 6.34, a P/E/G ratio of 0.73 and a beta of 1.37.

Delta Air Lines (NYSE:DAL) last issued its quarterly earnings data on Thursday, April 11th. The transportation company reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.09. Delta Air Lines had a net margin of 8.48% and a return on equity of 41.89%. The company had revenue of $13.75 billion during the quarter, compared to the consensus estimate of $12.51 billion. During the same quarter last year, the company earned $0.25 earnings per share. Delta Air Lines’s revenue for the quarter was up 7.8% on a year-over-year basis. As a group, research analysts anticipate that Delta Air Lines will post 6.61 EPS for the current year.

Insider Activity

In other news, President Glen W. Hauenstein sold 100,000 shares of the firm’s stock in a transaction on Monday, April 22nd. The stock was sold at an average price of $49.05, for a total value of $4,905,000.00. Following the completion of the sale, the president now owns 217,584 shares of the company’s stock, valued at $10,672,495.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, President Glen W. Hauenstein sold 100,000 shares of the stock in a transaction that occurred on Monday, April 22nd. The shares were sold at an average price of $49.05, for a total value of $4,905,000.00. Following the completion of the sale, the president now directly owns 217,584 shares of the company’s stock, valued at $10,672,495.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Joanne D. Smith sold 4,846 shares of the business’s stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $52.30, for a total transaction of $253,445.80. Following the transaction, the executive vice president now directly owns 112,421 shares in the company, valued at $5,879,618.30. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 178,919 shares of company stock valued at $8,834,653. Company insiders own 0.96% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Delta Air Lines from $50.00 to $60.00 and gave the company a “buy” rating in a research report on Thursday, April 11th. Susquehanna lifted their price target on shares of Delta Air Lines from $47.00 to $54.00 and gave the stock a “positive” rating in a research note on Tuesday, April 9th. Citigroup increased their price objective on shares of Delta Air Lines from $55.00 to $65.00 and gave the company a “buy” rating in a research note on Wednesday, May 29th. HSBC started coverage on shares of Delta Air Lines in a research report on Monday, May 13th. They issued a “buy” rating and a $72.80 target price for the company. Finally, Bank of America lifted their price target on Delta Air Lines from $53.00 to $55.00 and gave the stock a “buy” rating in a research note on Thursday, April 11th. One research analyst has rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $59.85.

Delta Air Lines Company Profile

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 domestic network centered on core hubs in Atlanta, Minneapolis-St. Paul, Detroit, and Salt Lake City, as well as coastal hub positions in Boston, Los Angeles, New York-LaGuardia, New York-JFK, and Seattle; and international network centered on hubs and market presence in Amsterdam, Bogota, Lima, Mexico City, London-Heathrow, Paris-Charles de Gaulle, Sao Paulo, Seoul-Incheon, and Tokyo.