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

Global Business Travel Group (NYSE:GBTG) released its earnings results on Tuesday. The company reported ($0.22) EPS 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 company had revenue of $597.00 million during the quarter, compared to the consensus estimate of $611.89 million. During the same period last year, the firm posted ($0.02) earnings per share. Global Business Travel Group updated its FY 2024 guidance to EPS.

Global Business Travel Group Price Performance

Shares of NYSE:GBTG traded up $0.54 during trading on Wednesday, hitting $8.27. 1,542,049 shares of the company’s stock were exchanged, 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. Global Business Travel Group has a 52-week low of $4.49 and a 52-week high of $8.55. The business’s 50-day simple moving average is $7.47 and its 200 day simple moving average is $6.79. The company has a market cap of $3.91 billion, a price-to-earnings ratio of -85.00 and a beta of 0.63.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. Citigroup increased 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 increased 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.

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

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.