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. Investors 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 of this dividend is Tuesday, December 10th. This is a boost from Clear Secure’s previous quarterly dividend of $0.10.

Clear Secure has a payout ratio of 26.0% meaning its dividend is sufficiently covered by earnings. Equities 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 Price Performance

Clear Secure stock opened at $36.75 on Friday. Clear Secure has a one year low of $16.05 and a one year high of $38.04. The stock has a market capitalization of $5.12 billion, a PE ratio of 47.11 and a beta of 1.65. The business’s fifty day moving average is $32.54 and its 200 day moving average is $24.13.

Clear Secure (NYSE:YOU) last announced its earnings results on Tuesday, August 6th. The company reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.08. The business had revenue of $186.75 million for the quarter, compared to analysts’ expectations of $183.78 million. Clear Secure had a return on equity of 35.33% and a net margin of 10.36%. The business’s revenue for the quarter was up 24.6% on a year-over-year basis. During the same period last year, the firm posted $0.05 earnings per share. As a group, sell-side analysts expect that Clear Secure will post 1.01 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on YOU. Needham & Company LLC boosted their price target on Clear Secure from $40.00 to $45.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. Telsey Advisory Group boosted their price target on Clear Secure from $34.00 to $42.00 and gave the company an “outperform” rating in a research note on Friday. The Goldman Sachs Group boosted their price target on Clear Secure from $27.00 to $31.00 and gave the company a “buy” rating in a research note on Thursday, August 8th. Finally, Stifel Nicolaus boosted their price target on Clear Secure from $24.00 to $32.00 and gave the company a “hold” rating in a research note on Monday. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, Clear Secure presently has a consensus rating of “Hold” and an average target price of $31.83.

Insider Buying and Selling

In related news, Director Alclear Investments Ii, Llc sold 150,000 shares of the business’s stock in a transaction that occurred 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 transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, CFO Kenneth L. Cornick sold 250,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $32.30, for a total transaction of $8,075,000.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Alclear Investments Ii, Llc sold 150,000 shares of the company’s stock in a transaction that occurred 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 three months, insiders have sold 1,173,935 shares of company stock valued at $36,826,532. Corporate insiders own 37.85% of the company’s stock.

About Clear Secure

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.