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

Global Business Travel Group (NYSE:GBTG) announced 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 return on equity of 1.26% and a negative net margin of 1.66%. The firm had revenue of $597.00 million during the quarter, compared to analysts’ expectations of $611.89 million. During the same period 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 7.0 %

Global Business Travel Group stock traded up $0.54 during trading hours on Wednesday, reaching $8.27. The company had a trading volume of 1,542,049 shares, compared to its average volume of 617,917. The company has a debt-to-equity ratio of 1.11, a current ratio of 1.65 and a quick ratio of 1.65. The company has a 50-day moving average price of $7.47 and a 200 day moving average price of $6.79. The firm has a market cap of $3.91 billion, a price-to-earnings ratio of -85.00 and a beta of 0.63. Global Business Travel Group has a 12-month low of $4.49 and a 12-month high of $8.55.

Global Business Travel Group announced that its board has authorized a share buyback program on Tuesday, November 5th that permits the company to repurchase $300.00 million in shares. This repurchase authorization permits the company to buy up to 8.2% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Analyst Ratings Changes

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

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.