Travelport Worldwide (TVPT) Downgraded to “Strong Sell” at Zacks Investment Research
Zacks Investment Research downgraded shares of Travelport Worldwide (NYSE:TVPT) from a hold rating to a strong sell rating in a research report sent to investors on Thursday morning.
According to Zacks, “Travelport Worldwide Limited is a Travel Commerce Platform providing distribution, technology, payment and other solutions for the global travel and tourism industry. Its Travel Commerce Platform enables travel providers, travel agencies, corporations and developers to connect. Through its Technology Services it provides critical IT solutions to airlines, such as shopping, ticketing and departure control applications. The Company also provides an array of additional services, such as advertising solutions, subscription services, business intelligence data services, and marketing-oriented analytical tools to travel providers, travel agencies and other travel data users. Travelport Worldwide Limited is based in Atlanta, Georgia. “
Several other brokerages also recently commented on TVPT. Cowen set a $19.00 target price on Travelport Worldwide and gave the company a buy rating in a report on Wednesday, November 1st. ValuEngine downgraded Travelport Worldwide from a buy rating to a hold rating in a report on Thursday, November 9th. BidaskClub downgraded Travelport Worldwide from a hold rating to a sell rating in a report on Tuesday, November 14th. UBS Group reiterated a neutral rating and set a $15.00 target price (up from $14.00) on shares of Travelport Worldwide in a report on Wednesday, February 21st. Finally, Morgan Stanley reiterated an equal weight rating and set a $14.50 target price (down from $15.00) on shares of Travelport Worldwide in a report on Wednesday, February 21st. Three research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company’s stock. The stock presently has an average rating of Hold and an average target price of $16.13.
Travelport Worldwide (NYSE:TVPT) last announced its earnings results on Tuesday, February 20th. The company reported $0.35 EPS for the quarter, beating the consensus estimate of $0.01 by $0.34. The business had revenue of $573.57 million for the quarter, compared to the consensus estimate of $566.92 million. Travelport Worldwide had a negative return on equity of 49.43% and a net margin of 5.82%. The company’s revenue was up 5.2% on a year-over-year basis. During the same period last year, the business posted $0.23 EPS. research analysts predict that Travelport Worldwide will post 0.48 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 15th. Shareholders of record on Thursday, March 1st will be issued a dividend of $0.075 per share. The ex-dividend date is Wednesday, February 28th. This represents a $0.30 annualized dividend and a yield of 2.11%. Travelport Worldwide’s dividend payout ratio is presently 22.90%.
In other Travelport Worldwide news, insider Matthew Minetola sold 12,000 shares of Travelport Worldwide stock in a transaction that occurred on Thursday, December 7th. The stock was sold at an average price of $12.86, for a total transaction of $154,320.00. Following the sale, the insider now directly owns 33,402 shares in the company, valued at approximately $429,549.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.19% of the stock is owned by insiders.
Hedge funds have recently bought and sold shares of the business. Public Employees Retirement Association of Colorado purchased a new stake in Travelport Worldwide during the 4th quarter worth approximately $129,000. Zions Bancorporation purchased a new stake in Travelport Worldwide during the 3rd quarter worth approximately $135,000. Ameritas Investment Partners Inc. increased its holdings in Travelport Worldwide by 9.2% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 10,900 shares of the company’s stock worth $150,000 after purchasing an additional 918 shares during the last quarter. Teacher Retirement System of Texas purchased a new stake in Travelport Worldwide during the 3rd quarter worth approximately $161,000. Finally, Tocqueville Asset Management L.P. purchased a new stake in Travelport Worldwide during the 3rd quarter worth approximately $163,000. Institutional investors own 89.22% of the company’s stock.
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About Travelport Worldwide
Travelport Worldwide Limited provides a travel commerce platform, which offers distribution, technology, payment, mobile and other solutions for the travel and tourism industry. The Company connects travel providers, such as airlines and hotel chains with online and offline travel agencies and other travel buyers in its business-to-business (B2B) travel commerce platform (its Travel Commerce Platform).
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