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

Global Business Travel Group (NYSE:GBTG) issued its quarterly 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 business 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 earned ($0.02) earnings per share. Global Business Travel Group updated its FY 2024 guidance to EPS.

Global Business Travel Group Trading Up 1.3 %

Shares of GBTG traded up $0.10 during midday trading on Friday, reaching $8.01. 274,882 shares of the stock were exchanged, compared to its average volume of 623,954. The stock’s 50 day simple moving average is $7.50 and its 200 day simple moving average is $6.81. Global Business Travel Group has a twelve month low of $4.49 and a twelve month high of $8.55. The company has a quick ratio of 1.65, a current ratio of 1.65 and a debt-to-equity ratio of 1.11.

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

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on GBTG shares. Citigroup increased their price objective 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 price target on shares of 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.