Global Business Travel Group (NYSE:GBTG) Posts 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 the consensus estimate of ($0.08) by ($0.14), Zacks reports. The firm had revenue of $597.00 million during the quarter, compared to the consensus estimate of $611.89 million. Global Business Travel Group had a negative return on equity of 1.26% and a negative net margin of 1.66%. During the same quarter last year, the business posted ($0.02) EPS. Global Business Travel Group updated its FY 2024 guidance to EPS.

Global Business Travel Group Trading Up 2.1 %

Shares of Global Business Travel Group stock traded up $0.17 on Friday, reaching $8.08. The stock had a trading volume of 315,781 shares, compared to its average volume of 624,143. The company has a 50 day moving average price of $7.50 and a 200 day moving average price of $6.81. The company has a quick ratio of 1.65, a current ratio of 1.65 and a debt-to-equity ratio of 1.11. Global Business Travel Group has a 1 year low of $4.49 and a 1 year high of $8.55.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on GBTG. Citigroup raised their target price on shares of Global Business Travel Group from $9.00 to $9.50 and gave the stock a “buy” rating in a report on Friday, October 4th. Evercore ISI raised their price target on shares of Global Business Travel Group from $9.00 to $10.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 7th.

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 outstanding shares. This buyback authorization allows the company to buy up to 8.2% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board 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.