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

Global Business Travel Group (NYSE:GBTGGet Free Report) announced 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. The business had revenue of $597.00 million for the quarter, compared to the consensus estimate of $611.89 million. Global Business Travel Group had a negative net margin of 1.66% and a negative return on equity of 1.26%. During the same quarter in the previous year, the company earned ($0.02) EPS. Global Business Travel Group updated its FY 2024 guidance to EPS.

Global Business Travel Group Stock Performance

Shares of Global Business Travel Group stock traded down $0.44 during trading hours on Thursday, hitting $7.91. 1,565,691 shares of the company’s stock traded hands, compared to its average volume of 574,624. Global Business Travel Group has a 12-month low of $4.49 and a 12-month high of $8.55. The company has a current ratio of 1.65, a quick ratio of 1.65 and a debt-to-equity ratio of 1.11. The company has a fifty day simple moving average of $7.50 and a 200-day simple moving average of $6.81.

Wall Street Analyst Weigh In

GBTG has been the subject of several research analyst reports. Citigroup lifted 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 note on Friday, October 4th. Evercore ISI boosted their target price on Global Business Travel Group from $9.00 to $10.00 and gave the company an “outperform” rating in a research report on Wednesday, August 7th.

Read Our Latest Research Report on Global Business Travel Group

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

About Global Business Travel Group

(Get Free Report)

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.

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Earnings History for Global Business Travel Group (NYSE:GBTG)

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