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

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

Global Business Travel Group Trading Up 7.1 %

Shares of NYSE GBTG traded up $0.55 during mid-day trading on Wednesday, hitting $8.28. The company’s stock had a trading volume of 1,482,997 shares, compared to its average volume of 617,642. 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 stock has a market cap of $3.92 billion, a price-to-earnings ratio of -85.00 and a beta of 0.63. The company’s fifty day simple moving average is $7.47 and its 200-day simple moving average is $6.79. Global Business Travel Group has a one year low of $4.49 and a one year high of $8.55.

Global Business Travel Group declared that its board has initiated a share repurchase plan on Tuesday, November 5th that allows the company to buyback $300.00 million in outstanding shares. This buyback authorization allows the company to repurchase up to 8.2% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. Evercore ISI raised 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 research report on Wednesday, August 7th. Citigroup raised their price target 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.

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.