Belmond (BEL) Downgraded by Zacks Investment Research to “Hold”

Belmond (NYSE:BEL) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Friday.

According to Zacks, “Belmond is a global collection of exceptional hotel and luxury travel adventures in some of the world’s most inspiring and enriching destinations. Established almost 40 years ago with the acquisition of Belmond Hotel Cipriani in Venice, the Company owns and operates unique and distinctive hotel, rail and river cruise experiences in many of the world’s most celebrated destinations. From city landmarks to intimate resorts, the collection includes Belmond Grand Hotel Europe, St. Petersburg; Belmond Copacabana Palace, Rio de Janeiro; Belmond Maroma Resort & Spa, Riviera Maya; and Belmond El Encanto, Santa Barbara. Belmond also encompasses safaris, six luxury tourist trains including the Venice Simplon-Orient-Express, three river cruises and ’21’, one of New York’s most storied restaurants. “

BEL has been the topic of several other research reports. Jefferies Financial Group upgraded Belmond from a “hold” rating to a “buy” rating and set a $20.00 target price on the stock in a report on Friday, August 10th. ValuEngine upgraded Belmond from a “hold” rating to a “buy” rating in a report on Thursday, August 9th. Finally, Deutsche Bank increased their target price on Belmond to $17.00 and gave the stock a “hold” rating in a report on Friday, August 10th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $18.00.

Shares of BEL stock traded down $0.19 during trading hours on Friday, hitting $17.70. 506,000 shares of the company’s stock were exchanged, compared to its average volume of 534,608. The company has a debt-to-equity ratio of 1.16, a quick ratio of 1.45 and a current ratio of 1.57. The stock has a market capitalization of $1.75 billion, a PE ratio of 147.50, a PEG ratio of 5.98 and a beta of 1.53. Belmond has a 52 week low of $10.30 and a 52 week high of $18.69.

Belmond (NYSE:BEL) last announced its earnings results on Wednesday, August 8th. The company reported $0.19 EPS for the quarter, topping the consensus estimate of $0.15 by $0.04. The company had revenue of $171.60 million for the quarter, compared to analysts’ expectations of $176.22 million. Belmond had a positive return on equity of 1.48% and a negative net margin of 6.84%. As a group, analysts forecast that Belmond will post 0.19 earnings per share for the current fiscal year.

A number of institutional investors have recently bought and sold shares of BEL. Wells Fargo & Company MN boosted its holdings in Belmond by 24.2% in the first quarter. Wells Fargo & Company MN now owns 93,695 shares of the company’s stock valued at $1,045,000 after acquiring an additional 18,271 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in Belmond by 2.5% in the first quarter. Principal Financial Group Inc. now owns 643,570 shares of the company’s stock valued at $7,176,000 after acquiring an additional 15,609 shares during the last quarter. CHICAGO TRUST Co NA bought a new position in Belmond in the second quarter valued at about $150,000. KBC Group NV boosted its holdings in Belmond by 36.0% in the second quarter. KBC Group NV now owns 24,188 shares of the company’s stock valued at $270,000 after acquiring an additional 6,402 shares during the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new position in Belmond in the second quarter valued at about $198,000. Institutional investors and hedge funds own 83.07% of the company’s stock.

Belmond Company Profile

Belmond Ltd. engages in the hotel and travel businesses. As of December 31, 2017, the company owned, invested in, or managed 36 deluxe hotels and resort properties in the United States, Mexico, The Caribbean, Europe, Southern Africa, South America, and Southeast Asia; 1 stand-alone restaurant in New York; 7 tourist trains in Europe, Southeast Asia, and Peru; 1 river cruise in Myanmar; and 1 canal boat business in France.

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