Travel + Leisure (NYSE:TNL) Price Target Cut to $60.00 by Analysts at Truist Financial

Travel + Leisure (NYSE:TNL) had its target price trimmed by Truist Financial from $65.00 to $60.00 in a research report released on Thursday, Benzinga reports. The firm currently has a buy rating on the stock.

Several other analysts also recently issued reports on the stock. Tigress Financial upped their price objective on shares of Travel + Leisure from $54.00 to $58.00 and gave the stock a buy rating in a report on Monday, July 29th. JPMorgan Chase & Co. upped their price target on shares of Travel + Leisure from $53.00 to $63.00 and gave the company an overweight rating in a report on Friday, July 19th. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on Travel + Leisure from $65.00 to $62.00 and set a buy rating on the stock in a research note on Thursday, July 25th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, Travel + Leisure has an average rating of Moderate Buy and a consensus target price of $56.63.

Travel + Leisure Price Performance

NYSE TNL opened at $42.70 on Thursday. Travel + Leisure has a fifty-two week low of $32.10 and a fifty-two week high of $49.91. The stock’s 50-day moving average is $44.27 and its two-hundred day moving average is $44.86. The firm has a market cap of $3.04 billion, a P/E ratio of 7.86, a price-to-earnings-growth ratio of 0.60 and a beta of 1.62.

Travel + Leisure (NYSE:TNL) last issued its quarterly earnings data on Wednesday, July 24th. The company reported $1.52 earnings per share for the quarter, beating analysts’ consensus estimates of $1.39 by $0.13. The business had revenue of $985.00 million for the quarter, compared to the consensus estimate of $987.20 million. Travel + Leisure had a negative return on equity of 46.63% and a net margin of 11.35%. The firm’s revenue was up 3.8% compared to the same quarter last year. During the same period last year, the business earned $1.33 EPS. On average, equities analysts expect that Travel + Leisure will post 5.61 EPS for the current year.

Travel + Leisure Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 13th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.68%. The ex-dividend date is Friday, September 13th. Travel + Leisure’s dividend payout ratio is currently 36.83%.

Institutional Investors Weigh In On Travel + Leisure

Institutional investors have recently added to or reduced their stakes in the company. Versant Capital Management Inc bought a new stake in shares of Travel + Leisure in the 2nd quarter worth approximately $27,000. Allspring Global Investments Holdings LLC lifted its position in Travel + Leisure by 2,759.1% in the second quarter. Allspring Global Investments Holdings LLC now owns 629 shares of the company’s stock worth $28,000 after purchasing an additional 607 shares during the period. Family Firm Inc. acquired a new stake in Travel + Leisure during the second quarter worth $31,000. Larson Financial Group LLC bought a new stake in Travel + Leisure in the 2nd quarter valued at $36,000. Finally, DekaBank Deutsche Girozentrale acquired a new position in shares of Travel + Leisure in the 2nd quarter valued at $38,000. 87.54% of the stock is owned by institutional investors and hedge funds.

Travel + Leisure Company Profile

Travel + Leisure Co, together with its subsidiaries, provides hospitality services and travel products in the United States and internationally. The company operates in two segments, Vacation Ownership; and Travel and Membership. The Vacation Ownership segment develops, markets, and sells vacation ownership interests (VOIs) to individual consumers, as well as provides consumer financing in connection with the sale of VOIs; and property management services at resorts.