Travel + Leisure (NYSE:TNL) Releases Quarterly Earnings Results, Hits Estimates

Travel + Leisure (NYSE:TNL) issued its quarterly earnings results on Wednesday. The company reported $1.88 EPS for the quarter, meeting analysts’ consensus estimates of $1.88, FiscalAI reports. Travel + Leisure had a negative return on equity of 48.06% and a net margin of 5.85%.The firm had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.04 billion.

Travel + Leisure Price Performance

NYSE:TNL opened at $73.35 on Wednesday. The firm has a market capitalization of $4.58 billion, a P/E ratio of 20.60, a P/E/G ratio of 0.55 and a beta of 1.16. The business has a 50 day simple moving average of $71.86 and a 200 day simple moving average of $71.64. Travel + Leisure has a 12-month low of $56.66 and a 12-month high of $81.00.

Travel + Leisure Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Friday, June 12th were given a dividend of $0.60 per share. The ex-dividend date was Friday, June 12th. This represents a $2.40 dividend on an annualized basis and a yield of 3.3%. Travel + Leisure’s payout ratio is currently 67.42%.

Insider Buying and Selling

In other Travel + Leisure news, Director George Herrera sold 500 shares of the firm’s stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $75.16, for a total value of $37,580.00. Following the sale, the director directly owned 1,353 shares in the company, valued at approximately $101,691.48. This trade represents a 26.98% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Kimberly Marshall sold 28,000 shares of the business’s stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $70.17, for a total transaction of $1,964,760.00. Following the transaction, the insider directly owned 33,191 shares of the company’s stock, valued at approximately $2,329,012.47. This trade represents a 45.76% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 31,000 shares of company stock valued at $2,161,915 over the last three months. Corporate insiders own 4.01% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. AQR Capital Management LLC increased its stake in shares of Travel + Leisure by 46.8% in the second quarter. AQR Capital Management LLC now owns 2,682,604 shares of the company’s stock valued at $138,449,000 after purchasing an additional 855,151 shares during the period. Price T Rowe Associates Inc. MD boosted its position in shares of Travel + Leisure by 68.3% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 885,105 shares of the company’s stock worth $62,427,000 after buying an additional 359,186 shares during the period. Goldman Sachs Group Inc. grew its holdings in Travel + Leisure by 124.3% in the 4th quarter. Goldman Sachs Group Inc. now owns 567,478 shares of the company’s stock worth $40,024,000 after buying an additional 314,481 shares in the last quarter. Invesco Ltd. grew its holdings in Travel + Leisure by 8.4% in the 3rd quarter. Invesco Ltd. now owns 3,486,173 shares of the company’s stock worth $207,392,000 after buying an additional 270,474 shares in the last quarter. Finally, Quantinno Capital Management LP increased its position in Travel + Leisure by 98.4% in the 2nd quarter. Quantinno Capital Management LP now owns 488,307 shares of the company’s stock valued at $25,202,000 after acquiring an additional 242,231 shares during the period. 87.54% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on TNL shares. Mizuho reduced their target price on Travel + Leisure from $107.00 to $105.00 and set an “outperform” rating for the company in a research note on Thursday, April 23rd. Weiss Ratings raised shares of Travel + Leisure from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, April 24th. Wells Fargo & Company cut their target price on shares of Travel + Leisure from $88.00 to $87.00 and set an “overweight” rating on the stock in a research note on Thursday, April 23rd. The Goldman Sachs Group upgraded Travel + Leisure from a “neutral” rating to a “buy” rating and set a $85.00 price target for the company in a research note on Monday, June 1st. Finally, Morgan Stanley upped their price objective on Travel + Leisure from $78.00 to $83.00 and gave the company an “overweight” rating in a research note on Friday, July 17th. Ten equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $85.90.

About Travel + Leisure

Travel + Leisure Co (NYSE: TNL) is a leisure travel company headquartered in Orlando, Florida, that specializes in vacation ownership, membership programs and branded travel experiences. The company operates an extensive portfolio of vacation clubs and destination services, offering members access to resorts, hotels, cruises and guided tours in markets around the world. Through its flagship membership brands, Travel + Leisure Co provides curated vacation packages, exchange services and unique travel itineraries that cater to both individual and family travelers.

In addition to its membership offerings, Travel + Leisure Co manages a network of resort properties and hospitality assets across North America, the Caribbean, Europe and Asia-Pacific.