Clear Secure, Inc. (NYSE:YOU) Increases Dividend to $0.13 Per Share

Clear Secure, Inc. (NYSE:YOU) announced a quarterly dividend on Thursday, October 31st, Zacks reports. Stockholders of record on Tuesday, December 10th will be given a dividend of 0.125 per share on Tuesday, December 17th. This represents a $0.50 annualized dividend and a dividend yield of 1.36%. The ex-dividend date is Tuesday, December 10th. This is a positive change from Clear Secure’s previous quarterly dividend of $0.10.

Clear Secure has a dividend payout ratio of 26.0% meaning its dividend is sufficiently covered by earnings. Research analysts expect Clear Secure to earn $1.29 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 31.0%.

Clear Secure Stock Down 1.9 %

NYSE YOU opened at $36.75 on Friday. Clear Secure has a 52 week low of $16.05 and a 52 week high of $38.04. The firm has a market capitalization of $5.12 billion, a P/E ratio of 47.11 and a beta of 1.65. The company has a 50-day moving average price of $32.54 and a 200-day moving average price of $24.13.

Clear Secure (NYSE:YOU) last released its quarterly earnings results on Tuesday, August 6th. The company reported $0.34 EPS for the quarter, beating the consensus estimate of $0.26 by $0.08. The firm had revenue of $186.75 million during the quarter, compared to analyst estimates of $183.78 million. Clear Secure had a net margin of 10.36% and a return on equity of 35.33%. The business’s revenue for the quarter was up 24.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.05 EPS. As a group, equities research analysts anticipate that Clear Secure will post 1.01 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on YOU shares. The Goldman Sachs Group increased their target price on shares of Clear Secure from $27.00 to $31.00 and gave the stock a “buy” rating in a report on Thursday, August 8th. Telsey Advisory Group increased their price objective on shares of Clear Secure from $34.00 to $42.00 and gave the company an “outperform” rating in a report on Friday. Needham & Company LLC increased their price objective on shares of Clear Secure from $40.00 to $45.00 and gave the company a “buy” rating in a report on Thursday, October 17th. Finally, Stifel Nicolaus increased their price objective on shares of Clear Secure from $24.00 to $32.00 and gave the company a “hold” rating in a report on Monday. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $31.83.

Insider Activity

In other news, Director Alclear Investments Ii, Llc sold 150,000 shares of the stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $34.08, for a total transaction of $5,112,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CFO Kenneth L. Cornick sold 250,000 shares of the firm’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $32.30, for a total value of $8,075,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Alclear Investments Ii, Llc sold 150,000 shares of the firm’s stock in a transaction on Friday, October 11th. The stock was sold at an average price of $34.08, for a total value of $5,112,000.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,173,935 shares of company stock worth $36,826,532. 37.85% of the stock is currently owned by insiders.

Clear Secure Company Profile

Clear Secure, Inc operates a secure identity platform under the CLEAR brand name primarily in the United States. Its secure identity platform is a multi-layered infrastructure consisting of front-end, including enrollment, verification, and linking, as well as back-end. The company also offers CLEAR Plus, a consumer aviation subscription service, which enables access to predictable entry lanes in airport security checkpoints, as well as access to broader network; and CLEAR mobile app, which is used to enroll new members and improve the experience for existing members.