Global Business Travel Group (NYSE:GBTG) Issues Quarterly Earnings Results, Misses Expectations By $0.14 EPS

Global Business Travel Group (NYSE:GBTG) issued its quarterly earnings data on Tuesday. The company reported ($0.22) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 period in the previous year, the firm posted ($0.02) earnings per share. Global Business Travel Group updated its FY 2024 guidance to EPS.

Global Business Travel Group Stock Up 8.4 %

Shares of Global Business Travel Group stock traded up $0.65 during trading on Wednesday, hitting $8.38. The company’s stock had a trading volume of 1,003,484 shares, compared to its average volume of 615,412. Global Business Travel Group has a 52 week low of $4.49 and a 52 week high of $8.55. The company has a debt-to-equity ratio of 1.11, a quick ratio of 1.65 and a current ratio of 1.65. The company has a fifty day simple moving average of $7.47 and a two-hundred day simple moving average of $6.79. The company has a market capitalization of $3.97 billion, a PE ratio of -85.00 and a beta of 0.63.

Global Business Travel Group declared that its Board of Directors has initiated a stock buyback program on Tuesday, November 5th that allows the company 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 programs are often an indication that the company’s board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on GBTG shares. Citigroup lifted their target price on shares of Global Business Travel Group from $9.00 to $9.50 and gave the company a “buy” rating in a research note on Friday, October 4th. Evercore ISI lifted their price objective 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.

Global Business Travel Group Company Profile

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.