Stock Buyback Plan Initiated by Global Business Travel Group (NYSE:GBTG) Board

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

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on GBTG. Evercore ISI increased their price objective on shares of Global Business Travel Group from $9.00 to $10.00 and gave the stock an “outperform” rating in a report on Wednesday, August 7th. Citigroup increased their price objective on shares of Global Business Travel Group from $9.00 to $9.50 and gave the stock a “buy” rating in a report on Friday, October 4th.

Global Business Travel Group Stock Up 0.8 %

NYSE:GBTG traded up $0.06 during trading hours on Tuesday, hitting $7.74. The stock had a trading volume of 979,216 shares, compared to its average volume of 613,598. The company has a current ratio of 1.65, a quick ratio of 1.65 and a debt-to-equity ratio of 1.11. Global Business Travel Group has a 1-year low of $4.49 and a 1-year high of $7.95. The business has a 50 day simple moving average of $7.47 and a two-hundred day simple moving average of $6.79. The company has a market cap of $3.66 billion, a PE ratio of -77.40 and a beta of 0.63.

Global Business Travel Group (NYSE:GBTG) last released its quarterly earnings results on Tuesday, August 6th. The company reported $0.07 earnings per share for the quarter, topping analysts’ consensus estimates 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 business had revenue of $625.00 million during the quarter, compared to the consensus estimate of $643.97 million. Analysts predict that Global Business Travel Group will post -0.08 EPS for the current year.

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.