Global Business Travel Group (NYSE:GBTG) Posts Earnings Results, Misses Estimates By $0.14 EPS

by · The Cerbat Gem

Global Business Travel Group (NYSE:GBTG – Get Free Report) posted its quarterly earnings data on Tuesday. The company reported ($0.22) earnings per share for the quarter, missing the consensus estimate of ($0.08) by ($0.14), Zacks reports. Global Business Travel Group had a negative net margin of 1.66% and a negative return on equity of 1.26%. The company had revenue of $597.00 million for the quarter, compared to analysts’ expectations of $611.89 million. During the same quarter last year, the business posted ($0.02) EPS. Global Business Travel Group updated its FY 2024 guidance to EPS.

Global Business Travel Group Trading Up 8.4 %

Shares of Global Business Travel Group stock traded up $0.65 on Wednesday, hitting $8.38. The stock had a trading volume of 1,003,484 shares, compared to its average volume of 615,412. The company has a quick ratio of 1.65, a current ratio of 1.65 and a debt-to-equity ratio of 1.11. Global Business Travel Group has a one year low of $4.49 and a one year high of $8.55. The stock’s 50-day simple moving average is $7.47 and its two-hundred day simple moving average is $6.79. The stock has a market cap of $3.97 billion, a price-to-earnings ratio of -85.00 and a beta of 0.63.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on GBTG shares. Evercore ISI raised their price target on Global Business Travel Group from $9.00 to $10.00 and gave the company an “outperform” rating in a research report on Wednesday, August 7th. Citigroup boosted their target price on Global Business Travel Group from $9.00 to $9.50 and gave the stock a “buy” rating in a research report on Friday, October 4th.

Check Out Our Latest Analysis on Global Business Travel Group

Global Business Travel Group declared that its Board of Directors has initiated a share buyback plan on Tuesday, November 5th that authorizes the company to buyback $300.00 million in outstanding shares. This buyback authorization authorizes the company to repurchase up to 8.2% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s management believes its shares are undervalued.

About Global Business Travel Group

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Global Business Travel Group, Inc provides business-to-business (B2B) travel platform in the United States and internationally. The company's platform offers a suite of technology-enabled solutions to business travelers and clients; travel content suppliers, such as airlines, hotels, ground transportation, and aggregators; and third-party travel agencies.

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