Sabre Corp. (SABR) Shares Down 9%
Sabre Corp. (NASDAQ:SABR) dropped 9% on Tuesday . The stock traded as low as $25.90 and last traded at $26.64, with a volume of 11,120,205 shares traded. The stock had previously closed at $29.29.
SABR has been the topic of several research analyst reports. Jefferies Group reissued a “buy” rating and set a $33.00 target price on shares of Sabre Corp. in a research report on Tuesday, June 21st. Evercore ISI reaffirmed a “buy” rating on shares of Sabre Corp. in a research report on Tuesday, June 21st. TheStreet raised Sabre Corp. from a “hold” rating to a “buy” rating in a research report on Thursday, April 28th. Sterne Agee CRT began coverage on Sabre Corp. in a research report on Tuesday, April 12th. They set a “buy” rating and a $33.00 price target on the stock. Finally, SunTrust Banks Inc. raised Sabre Corp. from a “neutral” rating to a “buy” rating in a research report on Wednesday, June 1st. One analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $33.50.
The stock’s 50-day moving average price is $27.84 and its 200-day moving average price is $27.65. The company has a market cap of $7.44 billion and a price-to-earnings ratio of 17.00.
Sabre Corp. (NASDAQ:SABR) last issued its earnings results on Tuesday, August 2nd. The company reported $0.37 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.36 by $0.01. During the same period in the previous year, the company earned $0.27 EPS. The company earned $845.20 million during the quarter, compared to analysts’ expectations of $852.33 million. Sabre Corp.’s quarterly revenue was up 19.5% on a year-over-year basis. On average, equities research analysts forecast that Sabre Corp. will post $1.46 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Wednesday, September 21st will be given a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 1.94%. The ex-dividend date is Monday, September 19th.
In related news, EVP William G. Robinson, Jr. sold 49,057 shares of the stock in a transaction dated Tuesday, May 17th. The stock was sold at an average price of $28.12, for a total value of $1,379,482.84. Following the completion of the transaction, the executive vice president now owns 105,290 shares of the company’s stock, valued at $2,960,754.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Lawrence W. Kellner sold 25,000 shares of the stock in a transaction dated Friday, July 1st. The shares were sold at an average price of $26.86, for a total value of $671,500.00. Following the completion of the transaction, the director now directly owns 232,352 shares of the company’s stock, valued at approximately $6,240,974.72. The disclosure for this sale can be found here.
A number of hedge funds and institutional investors have modified their holdings of SABR. Navellier & Associates Inc acquired a new position in shares of Sabre Corp. during the fourth quarter worth approximately $12,586,000. BlackRock Advisors LLC increased its position in Sabre Corp. by 67.4% in the fourth quarter. BlackRock Advisors LLC now owns 971,418 shares of the company’s stock worth $27,171,000 after buying an additional 391,087 shares in the last quarter. Schroder Investment Management Group increased its position in Sabre Corp. by 16.8% in the fourth quarter. Schroder Investment Management Group now owns 2,138,400 shares of the company’s stock worth $59,811,000 after buying an additional 308,100 shares in the last quarter. BNP Paribas Arbitrage SA increased its position in Sabre Corp. by 133.6% in the fourth quarter. BNP Paribas Arbitrage SA now owns 331,367 shares of the company’s stock worth $9,268,000 after buying an additional 189,522 shares in the last quarter. Finally, Principal Financial Group Inc. increased its position in Sabre Corp. by 21.1% in the fourth quarter. Principal Financial Group Inc. now owns 1,034,092 shares of the company’s stock worth $28,923,000 after buying an additional 180,521 shares in the last quarter.
Sabre Corporation is a technology solutions provider to the global travel and tourism industry. The Company’s software, data, mobile and distribution solutions are used by hundreds of airlines and thousands of hotel properties to manage critical operations, including passenger and guest reservations, revenue management, flight, network and crew management.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.