Hyatt Hotels Corporation (NYSE:H) Releases Earnings Results, Beats Expectations By $0.17 EPS
Hyatt Hotels Corporation (NYSE:H) announced its quarterly earnings data on Thursday. The company reported $0.52 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.35 by $0.17, Bloomberg Earnings reports. Hyatt Hotels Corporation had a net margin of 5.71% and a return on equity of 6.78%. The business had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.20 billion. During the same period last year, the business earned $0.64 EPS.
Shares of Hyatt Hotels Corporation (NYSE H) traded up 0.63% during mid-day trading on Friday, hitting $60.35. 888,707 shares of the stock traded hands. The firm’s 50 day moving average price is $56.16 and its 200-day moving average price is $55.27. The stock has a market cap of $7.57 billion, a P/E ratio of 33.32 and a beta of 1.28. Hyatt Hotels Corporation has a 12-month low of $47.94 and a 12-month high of $61.07.
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A number of brokerages have recently weighed in on H. Stifel Nicolaus raised their price objective on shares of Hyatt Hotels Corporation from $54.00 to $59.00 and gave the company a “hold” rating in a report on Monday, May 15th. FBR & Co restated a “buy” rating on shares of Hyatt Hotels Corporation in a report on Monday, May 15th. Citigroup Inc. restated a “neutral” rating on shares of Hyatt Hotels Corporation in a report on Thursday, May 11th. Guggenheim began coverage on shares of Hyatt Hotels Corporation in a research note on Wednesday, April 26th. They set a “neutral” rating on the stock. Finally, BidaskClub upgraded shares of Hyatt Hotels Corporation from a “strong sell” rating to a “sell” rating in a research note on Wednesday. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have issued a buy rating to the company’s stock. Hyatt Hotels Corporation has an average rating of “Hold” and an average price target of $55.73.
In related news, insider H. Charles Floyd sold 23,386 shares of the stock in a transaction dated Wednesday, May 10th. The shares were sold at an average price of $58.26, for a total value of $1,362,468.36. Following the sale, the insider now owns 59,263 shares of the company’s stock, valued at approximately $3,452,662.38. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Gs Capital Partners Vi Fund, L sold 4,000,000 shares of the stock in a transaction dated Friday, May 26th. The stock was sold at an average price of $57.53, for a total transaction of $230,120,000.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 4,042,240 shares of company stock worth $232,582,411. Corporate insiders own 25.50% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in the stock. Morgan Stanley boosted its position in Hyatt Hotels Corporation by 85.5% in the first quarter. Morgan Stanley now owns 2,624,726 shares of the company’s stock valued at $141,682,000 after buying an additional 1,209,744 shares during the last quarter. MARSHALL WACE ASIA Ltd bought a new position in Hyatt Hotels Corporation during the first quarter valued at approximately $37,860,000. Marshall Wace North America L.P. bought a new position in Hyatt Hotels Corporation during the first quarter valued at approximately $37,860,000. BNP Paribas Arbitrage SA boosted its position in Hyatt Hotels Corporation by 485.2% in the second quarter. BNP Paribas Arbitrage SA now owns 624,966 shares of the company’s stock valued at $35,129,000 after buying an additional 518,164 shares during the last quarter. Finally, Vanguard Group Inc. boosted its position in Hyatt Hotels Corporation by 19.5% in the first quarter. Vanguard Group Inc. now owns 2,872,449 shares of the company’s stock valued at $155,055,000 after buying an additional 469,675 shares during the last quarter. 31.01% of the stock is currently owned by hedge funds and other institutional investors.
Hyatt Hotels Corporation announced that its Board of Directors has authorized a stock buyback plan on Thursday, May 4th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the company to buy up to 6.7% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.
About Hyatt Hotels Corporation
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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