Hyatt Hotels Corporation (H) Stock Price Up 0.5% After Better-Than-Expected Earnings
Hyatt Hotels Corporation (NYSE:H)’s share price rose 0.5% on Friday following a stronger than expected earnings report. The company traded as high as $60.66 and last traded at $60.24, with a volume of 438,510 shares traded. The stock had previously closed at $59.97.
The company reported $0.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.35 by $0.17. The business had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.20 billion. Hyatt Hotels Corporation had a return on equity of 6.78% and a net margin of 5.71%. During the same quarter in the prior year, the company earned $0.64 earnings per share.
Hyatt Hotels Corporation declared that its Board of Directors has authorized a stock repurchase plan on Thursday, May 4th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the company to repurchase up to 6.7% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.
Several equities analysts have recently weighed in on H shares. Citigroup Inc. restated a “neutral” rating on shares of Hyatt Hotels Corporation in a report on Thursday, May 11th. Stifel Nicolaus raised their price target on Hyatt Hotels Corporation from $54.00 to $59.00 and gave the company a “hold” rating in a report on Monday, May 15th. BidaskClub downgraded Hyatt Hotels Corporation from a “hold” rating to a “sell” rating in a report on Thursday, July 6th. FBR & Co restated a “buy” rating and set a $63.00 price target on shares of Hyatt Hotels Corporation in a report on Friday, May 5th. Finally, Guggenheim started coverage on Hyatt Hotels Corporation in a report on Wednesday, April 26th. They set a “neutral” rating for the company. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have assigned a buy rating to the stock. Hyatt Hotels Corporation has a consensus rating of “Hold” and an average price target of $55.73.
In other Hyatt Hotels Corporation news, insider H. Charles Floyd sold 23,386 shares of the firm’s stock in a transaction dated Wednesday, May 10th. The stock was sold at an average price of $58.26, for a total value of $1,362,468.36. Following the transaction, the insider now directly owns 59,263 shares of the company’s stock, valued at $3,452,662.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Gs Capital Partners Vi Fund, L sold 4,000,000 shares of the firm’s stock in a transaction dated Friday, May 26th. The stock was sold at an average price of $57.53, for a total value of $230,120,000.00. The disclosure for this sale can be found here. Insiders have sold 4,042,240 shares of company stock worth $232,582,411 over the last ninety days. 25.50% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in H. Amalgamated Bank boosted its position in shares of Hyatt Hotels Corporation by 2.0% in the first quarter. Amalgamated Bank now owns 4,686 shares of the company’s stock valued at $253,000 after buying an additional 91 shares during the last quarter. State of Wisconsin Investment Board boosted its position in shares of Hyatt Hotels Corporation by 3.7% in the second quarter. State of Wisconsin Investment Board now owns 6,712 shares of the company’s stock valued at $377,000 after buying an additional 240 shares during the last quarter. Quantitative Systematic Strategies LLC boosted its position in shares of Hyatt Hotels Corporation by 2.2% in the second quarter. Quantitative Systematic Strategies LLC now owns 17,498 shares of the company’s stock valued at $988,000 after buying an additional 384 shares during the last quarter. Pacer Advisors Inc. boosted its position in shares of Hyatt Hotels Corporation by 11.2% in the first quarter. Pacer Advisors Inc. now owns 5,070 shares of the company’s stock valued at $274,000 after buying an additional 512 shares during the last quarter. Finally, UBS Asset Management Americas Inc. boosted its position in shares of Hyatt Hotels Corporation by 23.6% in the first quarter. UBS Asset Management Americas Inc. now owns 5,070 shares of the company’s stock valued at $274,000 after buying an additional 967 shares during the last quarter. 31.01% of the stock is currently owned by institutional investors and hedge funds.
The stock has a market cap of $7.57 billion, a price-to-earnings ratio of 33.32 and a beta of 1.28. The stock has a 50-day moving average of $56.16 and a 200 day moving average of $55.27.
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Hyatt Hotels Corporation Company Profile
Hyatt Hotels Corporation is a global hospitality company. The Company develops, owns, operates, manages, franchises, licenses or provides services to a portfolio of properties. The Company operates through four segments: owned and leased hotels; Americas management and franchising (Americas); ASPAC management and franchising (ASPAC), and EAME/SW Asia management and franchising (EAME/SW Asia).
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