Delta Air Lines, Inc. (DAL) to Issue Quarterly Dividend of $0.15 on October 31st

Delta Air Lines, Inc. (NYSE:DAL) announced a quarterly dividend on Thursday, September 19th, NASDAQ reports. Stockholders of record on Thursday, October 10th will be paid a dividend of 0.15 per share by the transportation company on Thursday, October 31st. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.28%. The ex-dividend date of this dividend is Thursday, October 10th.

Delta Air Lines has decreased its dividend by an average of 20.8% annually over the last three years. Delta Air Lines has a dividend payout ratio of 8.2% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Delta Air Lines to earn $7.22 per share next year, which means the company should continue to be able to cover its $0.60 annual dividend with an expected future payout ratio of 8.3%.

Delta Air Lines Price Performance

NYSE DAL opened at $46.93 on Friday. Delta Air Lines has a 12 month low of $30.60 and a 12 month high of $53.86. The firm has a market capitalization of $30.28 billion, a PE ratio of 6.75, a P/E/G ratio of 0.89 and a beta of 1.34. The company’s 50 day simple moving average is $42.36 and its 200 day simple moving average is $46.25. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.40 and a quick ratio of 0.35.

Delta Air Lines (NYSE:DAL) last posted its quarterly earnings data on Thursday, July 11th. The transportation company reported $2.36 EPS for the quarter, missing analysts’ consensus estimates of $2.37 by ($0.01). Delta Air Lines had a return on equity of 36.02% and a net margin of 7.46%. The firm had revenue of $15.41 billion during the quarter, compared to the consensus estimate of $15.45 billion. During the same period in the prior year, the firm posted $2.68 EPS. The firm’s quarterly revenue was up 5.4% on a year-over-year basis. As a group, equities research analysts forecast that Delta Air Lines will post 5.99 EPS for the current fiscal year.

Insider Buying and Selling at Delta Air Lines

In related news, Director Willie Cw Chiang purchased 10,000 shares of Delta Air Lines stock in a transaction dated Friday, July 12th. The stock was acquired at an average cost of $43.90 per share, with a total value of $439,000.00. Following the completion of the transaction, the director now directly owns 20,000 shares of the company’s stock, valued at $878,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.96% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Citigroup lifted their price objective on shares of Delta Air Lines from $55.00 to $65.00 and gave the stock a “buy” rating in a research note on Wednesday, May 29th. Jefferies Financial Group dropped their price target on Delta Air Lines from $58.00 to $56.00 and set a “buy” rating on the stock in a report on Friday, June 28th. Sanford C. Bernstein reduced their price objective on Delta Air Lines from $66.00 to $62.00 and set an “outperform” rating for the company in a research note on Friday, July 12th. Finally, TD Cowen cut their target price on Delta Air Lines from $61.00 to $59.00 and set a “buy” rating on the stock in a research report on Wednesday, July 17th. One equities 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. According to MarketBeat.com, Delta Air Lines has a consensus rating of “Buy” and an average target price of $61.52.

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.