Sabre (NASDAQ:SABR) Shares Gap Up Following Strong Earnings
by Tristan Rich · The Markets DailySabre Corporation (NASDAQ:SABR – Get Free Report) gapped up before the market opened on Thursday after the company announced better than expected quarterly earnings. The stock had previously closed at $1.74, but opened at $1.98. Sabre shares last traded at $1.6940, with a volume of 993,275 shares changing hands.
The information technology services provider reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.02 by $0.09. The business had revenue of $738.43 million during the quarter, compared to analyst estimates of $731.81 million.
Analyst Upgrades and Downgrades
A number of analysts have weighed in on the company. Weiss Ratings cut Sabre from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday, August 11th. Citigroup reissued a “buy” rating on shares of Sabre in a report on Thursday, August 27th. Finally, Zacks Research downgraded Sabre from a “hold” rating to a “strong sell” rating in a research note on Monday, October 26th. One investment analyst has rated the stock with a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, Sabre currently has an average rating of “Reduce” and an average target price of $1.75.
Get Our Latest Research Report on Sabre
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently bought and sold shares of the company. BlackRock Inc. bought a new position in Sabre during the second quarter worth $114,425,000. Arini Capital Management Ltd bought a new stake in Sabre in the 2nd quarter valued at $81,719,000. Discerene Group LP boosted its holdings in Sabre by 1.5% in the 1st quarter. Discerene Group LP now owns 39,093,531 shares of the information technology services provider’s stock valued at $56,686,000 after purchasing an additional 569,711 shares during the period. Bank of New York Mellon Corp acquired a new stake in Sabre in the 2nd quarter worth $4,184,000. Finally, Principal Financial Group Inc. grew its position in Sabre by 2.1% in the 1st quarter. Principal Financial Group Inc. now owns 1,921,514 shares of the information technology services provider’s stock worth $2,786,000 after purchasing an additional 38,802 shares during the last quarter. Institutional investors and hedge funds own 89.42% of the company’s stock.
Sabre Stock Performance
The firm’s 50-day simple moving average is $1.96 and its 200-day simple moving average is $1.74. The company has a market capitalization of $686.89 million, a price-to-earnings ratio of 1.03 and a beta of 1.18.
About Sabre
Sabre Corporation is a travel technology company that provides software, data, and marketplace services to airlines, hotels, travel agencies, corporations, and other participants in the global travel industry. Its platforms help customers search, shop, price, book, and manage travel content across air, lodging, and other travel products.
The company’s offerings include global distribution and travel marketplace capabilities, application programming interfaces, and tools such as the Sabre Red suite for travel agencies and travel sellers.