Global Business Travel Group (NYSE:GBTG) Releases Quarterly Earnings Results, Misses Expectations By $0.14 EPS

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

Global Business Travel Group Trading Down 5.7 %

Shares of NYSE:GBTG traded down $0.48 on Thursday, hitting $7.87. The company had a trading volume of 604,724 shares, compared to its average volume of 621,122. Global Business Travel Group has a 1 year low of $4.49 and a 1 year high of $8.55. The firm has a market capitalization of $3.72 billion, a price-to-earnings ratio of -23.15 and a beta of 0.63. The company has a quick ratio of 1.65, a current ratio of 1.65 and a debt-to-equity ratio of 1.11. The firm’s 50-day simple moving average is $7.50 and its two-hundred day simple moving average is $6.81.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on GBTG. Evercore ISI raised their price objective on shares of Global Business Travel Group from $9.00 to $10.00 and gave the company an “outperform” rating in a research note on Wednesday, August 7th. Citigroup increased their price target on shares of 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.

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

About Global Business Travel Group

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.