Global Business Travel Group (NYSE:GBTG) Releases 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 (EPS) for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $611.89 million. During the same period last year, the firm posted ($0.02) EPS. Global Business Travel Group updated its FY 2024 guidance to EPS.

Global Business Travel Group Price Performance

Shares of NYSE GBTG traded up $0.55 during midday trading on Wednesday, reaching $8.28. 1,482,997 shares of the company traded hands, compared to its average volume of 617,642. Global Business Travel Group has a 12 month low of $4.49 and a 12 month 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 stock’s 50-day simple moving average is $7.47 and its 200-day simple moving average is $6.79. The firm has a market cap of $3.92 billion, a PE ratio of -85.00 and a beta of 0.63.

Analysts Set New Price Targets

A number of research analysts have recently commented on GBTG shares. Citigroup upped their price objective on shares of Global Business Travel Group from $9.00 to $9.50 and gave the company a “buy” rating in a research report on Friday, October 4th. Evercore ISI upped their price target 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 declared that its board has approved a stock buyback program on Tuesday, November 5th that authorizes the company to buyback $300.00 million in shares. This buyback authorization authorizes the company to reacquire up to 8.2% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board of directors believes its shares are undervalued.

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.