Global Business Travel Group (NYSE:GBTG) Announces Quarterly Earnings Results, Beats Expectations By $0.05 EPS

Global Business Travel Group (NYSE:GBTG) posted its quarterly earnings results on Monday. The company reported $0.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.05 by $0.05, FiscalAI reports. The business had revenue of $840.00 million for the quarter, compared to analyst estimates of $814.55 million. Global Business Travel Group had a return on equity of 2.59% and a net margin of 2.93%.The firm’s revenue was up 35.3% on a year-over-year basis.

Global Business Travel Group Stock Down 0.9%

GBTG traded down $0.09 on Wednesday, hitting $9.40. The company had a trading volume of 1,623,695 shares, compared to its average volume of 2,581,343. The stock has a fifty day simple moving average of $5.70 and a 200-day simple moving average of $6.77. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.14 and a quick ratio of 1.14. The firm has a market capitalization of $4.92 billion, a P/E ratio of 55.32, a P/E/G ratio of 2.96 and a beta of 0.75. Global Business Travel Group has a 52-week low of $4.95 and a 52-week high of $9.54.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in GBTG. Quantbot Technologies LP purchased a new stake in Global Business Travel Group in the third quarter worth $26,000. Northwestern Mutual Wealth Management Co. purchased a new position in Global Business Travel Group during the fourth quarter valued at $32,000. Advisory Services Network LLC purchased a new position in Global Business Travel Group during the third quarter valued at $61,000. Creative Planning bought a new stake in shares of Global Business Travel Group during the 2nd quarter valued at $67,000. Finally, Russell Investments Group Ltd. grew its position in shares of Global Business Travel Group by 1,238.9% in the 3rd quarter. Russell Investments Group Ltd. now owns 9,024 shares of the company’s stock worth $73,000 after buying an additional 8,350 shares during the period. Hedge funds and other institutional investors own 82.46% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on GBTG shares. BTIG Research cut shares of Global Business Travel Group from a “buy” rating to a “neutral” rating in a report on Monday. Morgan Stanley lowered their price target on shares of Global Business Travel Group from $8.00 to $7.00 and set an “equal weight” rating for the company in a report on Monday, March 9th. Bank of America started coverage on shares of Global Business Travel Group in a report on Tuesday, April 7th. They issued a “neutral” rating and a $6.50 price target on the stock. UBS Group lowered their price objective on shares of Global Business Travel Group from $11.00 to $10.00 and set a “buy” rating for the company in a research note on Tuesday, March 10th. Finally, Wall Street Zen upgraded Global Business Travel Group from a “hold” rating to a “buy” rating in a report on Saturday, April 18th. Two research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $8.90.

Global Business Travel Group Company Profile

Global Business Travel Group (NYSE: GBTG), formerly known as American Express Global Business Travel, is a provider of end-to-end corporate travel management solutions. The company helps organizations plan, book and manage business travel, meetings and events through an integrated suite of services. Its offerings include traveller support, expense management, virtual and in-person meeting services, data analytics and duty-of-care solutions tailored to enterprise customers.

Operating under a global network of offices and digital platforms, Global Business Travel Group serves clients across the Americas, EMEA and Asia Pacific.