Global Business Travel Group (NYSE:GBTG) Initiates Share Buyback Plan

Global Business Travel Group (NYSE:GBTG) announced that its Board of Directors has approved a share buyback plan on Tuesday, November 5th, RTT News reports. The company plans to repurchase $300.00 million in shares. This repurchase authorization allows the company to repurchase up to 8.2% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

GBTG has been the subject of a number of analyst reports. Evercore ISI upped their price objective on shares of Global Business Travel Group from $9.00 to $10.00 and gave the company an “outperform” rating in a report on Wednesday, August 7th. Citigroup upped their price objective on shares of Global Business Travel Group from $9.00 to $9.50 and gave the company a “buy” rating in a report on Friday, October 4th.

Global Business Travel Group Stock Up 0.8 %

Shares of NYSE:GBTG traded up $0.06 during trading on Tuesday, hitting $7.74. 979,216 shares of the company were exchanged, compared to its average volume of 613,598. The stock has a market capitalization of $3.66 billion, a P/E ratio of -77.40 and a beta of 0.63. The company has a debt-to-equity ratio of 1.11, a current ratio of 1.65 and a quick ratio of 1.65. Global Business Travel Group has a 12-month low of $4.49 and a 12-month high of $7.95. The firm’s 50 day moving average price is $7.47 and its 200-day moving average price is $6.79.

Global Business Travel Group (NYSE:GBTG) last released its quarterly earnings results on Tuesday, August 6th. The company reported $0.07 EPS for the quarter, beating the consensus estimate of ($0.04) by $0.11. Global Business Travel Group had a negative net margin of 1.66% and a negative return on equity of 1.26%. The firm had revenue of $625.00 million during the quarter, compared to the consensus estimate of $643.97 million. On average, research analysts predict that Global Business Travel Group will post -0.08 earnings per share for the current fiscal year.

About Global Business Travel Group

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.