Global Business Travel Group (NYSE:GBTG) Issues Quarterly Earnings Results

Global Business Travel Group (NYSE:GBTG) released its earnings results on Tuesday. The company reported ($0.22) earnings per share for the quarter, missing the consensus estimate of ($0.08) by ($0.14), Zacks reports. The company had revenue of $597.00 million for the quarter, compared to analysts’ expectations 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 last year, the firm posted ($0.02) earnings per share. Global Business Travel Group updated its FY 2024 guidance to EPS.

Global Business Travel Group Stock Performance

Shares of GBTG stock traded down $0.48 during mid-day trading on Thursday, hitting $7.87. The stock had a trading volume of 604,724 shares, compared to its average volume of 621,122. Global Business Travel Group has a fifty-two week low of $4.49 and a fifty-two week high of $8.55. The company has a debt-to-equity ratio of 1.11, a current ratio of 1.65 and a quick ratio of 1.65. The company’s 50-day simple moving average is $7.50 and its 200-day simple moving average is $6.81. The firm has a market cap of $3.72 billion, a PE ratio of -23.15 and a beta of 0.63.

Analyst Ratings Changes

Several brokerages have commented on GBTG. Citigroup upped their price objective on 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 objective on Global Business Travel Group from $9.00 to $10.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 7th.

Global Business Travel Group declared that its Board of Directors has initiated a stock buyback program on Tuesday, November 5th that allows the company to buyback $300.00 million in outstanding shares. This buyback authorization allows the company to repurchase up to 8.2% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its stock is 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.