Travel + Leisure Co. (NYSE:TNL) Raises Dividend to $0.56 Per Share

Travel + Leisure Co. (NYSE:TNL) announced a quarterly dividend on Thursday, March 6th, Wall Street Journal reports. Stockholders of record on Monday, March 17th will be paid a dividend of 0.56 per share on Monday, March 31st. This represents a $2.24 annualized dividend and a dividend yield of 4.18%. The ex-dividend date of this dividend is Monday, March 17th. This is a 12.0% increase from Travel + Leisure’s previous quarterly dividend of $0.50.

Travel + Leisure has raised its dividend by an average of 26.0% per year over the last three years. Travel + Leisure has a dividend payout ratio of 27.2% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Travel + Leisure to earn $7.93 per share next year, which means the company should continue to be able to cover its $2.00 annual dividend with an expected future payout ratio of 25.2%.

Travel + Leisure Stock Up 0.2 %

Travel + Leisure stock traded up $0.12 during mid-day trading on Friday, hitting $53.61. 731,494 shares of the stock were exchanged, compared to its average volume of 569,007. Travel + Leisure has a 12 month low of $39.91 and a 12 month high of $58.95. The firm’s fifty day simple moving average is $53.80 and its two-hundred day simple moving average is $50.32. The stock has a market capitalization of $3.58 billion, a price-to-earnings ratio of 9.18, a PEG ratio of 0.67 and a beta of 1.61.

Travel + Leisure (NYSE:TNL) last released its earnings results on Wednesday, February 19th. The company reported $1.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.68 by $0.04. Travel + Leisure had a net margin of 10.63% and a negative return on equity of 45.75%. The business had revenue of $971.00 million for the quarter, compared to analyst estimates of $958.87 million. During the same quarter in the previous year, the business earned $1.98 earnings per share. Travel + Leisure’s revenue for the quarter was up 3.9% on a year-over-year basis. As a group, analysts forecast that Travel + Leisure will post 6.46 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Stifel Nicolaus boosted their price target on Travel + Leisure from $59.00 to $66.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Tigress Financial boosted their target price on shares of Travel + Leisure from $64.00 to $70.00 and gave the company a “buy” rating in a research report on Thursday. The Goldman Sachs Group increased their target price on shares of Travel + Leisure from $49.00 to $59.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 10th. Mizuho reaffirmed a “neutral” rating and issued a $64.00 price target (up from $55.00) on shares of Travel + Leisure in a research note on Thursday, February 20th. Finally, Barclays upped their price objective on shares of Travel + Leisure from $48.00 to $54.00 and gave the company an “underweight” rating in a report on Thursday, February 20th. One research analyst has rated the stock with a sell rating, two have given a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $63.70.

Travel + Leisure Company Profile

Travel + Leisure Co, together with its subsidiaries, provides hospitality services and travel products in the United States and internationally. The company operates in two segments, Vacation Ownership; and Travel and Membership. The Vacation Ownership segment develops, markets, and sells vacation ownership interests (VOIs) to individual consumers, as well as provides consumer financing in connection with the sale of VOIs; and property management services at resorts.