Delta Air Lines, Inc. (NYSE:DAL) to Issue Quarterly Dividend of $0.19

Delta Air Lines, Inc. (NYSE:DAL - Get Free Report) declared a quarterly dividend on Thursday, June 19th, RTT News reports. Shareholders of record on Thursday, July 31st will be paid a dividend of 0.1875 per share by the transportation company on Thursday, August 21st. This represents a $0.75 dividend on an annualized basis and a yield of 1.59%. The ex-dividend date is Thursday, July 31st. This is a 25.0% increase from Delta Air Lines's previous quarterly dividend of $0.15.

Delta Air Lines has a dividend payout ratio of 8.9% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Delta Air Lines to earn $8.28 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 7.2%.

Delta Air Lines Price Performance

Shares of Delta Air Lines stock traded down $0.32 during trading hours on Friday, reaching $47.24. 10,794,796 shares of the company's stock were exchanged, compared to its average volume of 9,725,269. Delta Air Lines has a 1 year low of $34.74 and a 1 year high of $69.98. The company has a market capitalization of $30.84 billion, a P/E ratio of 8.38, a price-to-earnings-growth ratio of 2.39 and a beta of 1.51. The business has a fifty day moving average of $46.63 and a two-hundred day moving average of $53.86. The company has a quick ratio of 0.33, a current ratio of 0.38 and a debt-to-equity ratio of 0.83.

Delta Air Lines (NYSE:DAL - Get Free Report) last released its earnings results on Wednesday, April 9th. The transportation company reported $0.46 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.84 by ($0.38). Delta Air Lines had a return on equity of 28.18% and a net margin of 5.91%. The business had revenue of $12.98 billion for the quarter, compared to analysts' expectations of $13.85 billion. During the same period in the previous year, the company earned $0.45 EPS. Delta Air Lines's quarterly revenue was down 5.6% compared to the same quarter last year. As a group, research analysts predict that Delta Air Lines will post 7.63 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on DAL shares. Jefferies Financial Group reaffirmed a "hold" rating and set a $46.00 target price (down previously from $85.00) on shares of Delta Air Lines in a report on Tuesday, April 1st. TD Cowen boosted their price target on shares of Delta Air Lines from $45.00 to $50.00 and gave the company a "buy" rating in a research report on Thursday, April 10th. Bank of America cut their price objective on shares of Delta Air Lines from $65.00 to $56.00 and set a "buy" rating for the company in a research report on Thursday, April 3rd. Susquehanna reduced their target price on shares of Delta Air Lines from $80.00 to $50.00 and set a "positive" rating on the stock in a research note on Monday, April 7th. Finally, The Goldman Sachs Group reduced their target price on shares of Delta Air Lines from $83.00 to $60.00 and set a "buy" rating on the stock in a research note on Wednesday, April 2nd. Three investment analysts have rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Delta Air Lines presently has an average rating of "Moderate Buy" and a consensus target price of $61.67.

Institutional Investors Weigh In On Delta Air Lines

An institutional investor recently bought a new position in Delta Air Lines stock. Acadian Asset Management LLC purchased a new stake in shares of Delta Air Lines, Inc. (NYSE:DAL - Free Report) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 4,114 shares of the transportation company's stock, valued at approximately $178,000. 69.93% of the stock is currently owned by hedge funds and other institutional investors.

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.