Imperial Capital reissued their outperform rating on shares of Travelport Worldwide (NYSE:TVPT) in a report issued on Friday, MarketBeat reports. The brokerage currently has a $20.00 price objective on the stock, down from their previous price objective of $25.00.
“We are maintaining our Outperform rating on TVPT shares, while lowering our one-year price target to $20 from $25, about 41% above the recent share price. We are lowering our 3Q18 EPS estimate to $0.24 from $0.31, maintaining our FY18 estimate of $1.40, and lowering our FY19 EPS estimate to $1.45 from $1.60.”,” Imperial Capital’s analyst commented.
Several other equities analysts have also issued reports on TVPT. ValuEngine lowered Travelport Worldwide from a buy rating to a hold rating in a research note on Thursday. Cowen set a $23.00 price target on Travelport Worldwide and gave the company a buy rating in a research note on Thursday, August 2nd. Zacks Investment Research lowered Travelport Worldwide from a hold rating to a sell rating in a research note on Thursday, August 9th. Morgan Stanley upped their price target on Travelport Worldwide from $18.00 to $21.00 and gave the company an equal weight rating in a research note on Friday, August 3rd. Finally, Bank of America lowered Travelport Worldwide from a neutral rating to an underperform rating in a research note on Friday, August 3rd. Four equities research analysts have rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company’s stock. The stock has an average rating of Hold and an average target price of $19.80.
Shares of TVPT traded up $0.18 during trading hours on Friday, hitting $14.33. 1,224,147 shares of the stock traded hands, compared to its average volume of 1,327,089. Travelport Worldwide has a 1-year low of $12.10 and a 1-year high of $20.30. The firm has a market capitalization of $1.81 billion, a PE ratio of 15.24 and a beta of 0.42.
Travelport Worldwide (NYSE:TVPT) last issued its quarterly earnings results on Thursday, November 1st. The company reported $0.31 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.12) by $0.43. Travelport Worldwide had a negative return on equity of 43.41% and a net margin of 4.60%. The business had revenue of $622.60 million for the quarter, compared to analyst estimates of $634.46 million. During the same quarter in the prior year, the firm posted $0.18 earnings per share. The firm’s revenue for the quarter was up 1.9% compared to the same quarter last year. As a group, equities analysts predict that Travelport Worldwide will post 0.26 EPS for the current fiscal year.
In related news, insider Matthew Minetola sold 2,508 shares of the company’s stock in a transaction dated Tuesday, October 16th. The stock was sold at an average price of $15.50, for a total value of $38,874.00. Following the completion of the sale, the insider now owns 37,004 shares in the company, valued at $573,562. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.32% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. increased its holdings in Travelport Worldwide by 6.9% in the second quarter. BlackRock Inc. now owns 17,315,003 shares of the company’s stock valued at $321,019,000 after purchasing an additional 1,119,416 shares during the last quarter. GAM Holding AG increased its holdings in Travelport Worldwide by 48.1% in the second quarter. GAM Holding AG now owns 65,507 shares of the company’s stock valued at $1,214,000 after purchasing an additional 21,268 shares during the last quarter. Chartwell Investment Partners LLC bought a new stake in Travelport Worldwide in the second quarter valued at about $3,270,000. ARP Americas LP bought a new stake in Travelport Worldwide in the second quarter valued at about $441,000. Finally, Meadow Creek Investment Management LLC increased its holdings in Travelport Worldwide by 48.6% in the second quarter. Meadow Creek Investment Management LLC now owns 12,650 shares of the company’s stock valued at $235,000 after purchasing an additional 4,136 shares during the last quarter. Institutional investors and hedge funds own 92.25% of the company’s stock.
Travelport Worldwide Company Profile
Travelport Worldwide Limited, together with its subsidiaries, operates a travel commerce platform that offers distribution, technology, payment, and other solutions for the travel and tourism industry in the United States, the United Kingdom, and internationally. It facilitates travel commerce by connecting travel providers with online and offline travel buyers in a business-to-business travel platform.
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