Travel + Leisure (NYSE:TNL) Posts Quarterly Earnings Results, Beats Expectations By $0.14 EPS

Travel + Leisure (NYSE:TNL) released its earnings results on Wednesday. The company reported $1.45 EPS for the quarter, topping the consensus estimate of $1.31 by $0.14, Zacks reports. Travel + Leisure had a net margin of 5.74% and a negative return on equity of 47.77%. The company had revenue of $961.00 million during the quarter, compared to analysts’ expectations of $954.81 million. During the same quarter last year, the business earned $1.11 EPS. The business’s revenue was up 2.9% on a year-over-year basis.

Travel + Leisure Stock Performance

NYSE:TNL traded down $8.00 during mid-day trading on Wednesday, hitting $68.15. 265,091 shares of the company’s stock traded hands, compared to its average volume of 647,981. The firm’s 50 day simple moving average is $72.91 and its 200 day simple moving average is $69.63. Travel + Leisure has a 1 year low of $42.40 and a 1 year high of $81.00. The company has a market cap of $4.25 billion, a PE ratio of 19.96, a price-to-earnings-growth ratio of 0.58 and a beta of 1.32.

Travel + Leisure Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Friday, March 20th were issued a dividend of $0.60 per share. This is an increase from Travel + Leisure’s previous quarterly dividend of $0.56. The ex-dividend date was Friday, March 20th. This represents a $2.40 annualized dividend and a yield of 3.5%. Travel + Leisure’s payout ratio is 70.38%.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Weiss Ratings cut shares of Travel + Leisure from a “buy (b)” rating to a “hold (c+)” rating in a research note on Friday, February 20th. Barclays set a $78.00 price objective on shares of Travel + Leisure in a research note on Thursday, February 19th. Citizens Jmp raised their price objective on shares of Travel + Leisure from $80.00 to $90.00 and gave the company a “market outperform” rating in a research note on Thursday, February 19th. The Goldman Sachs Group raised their price objective on shares of Travel + Leisure from $71.00 to $81.00 and gave the company a “neutral” rating in a research note on Thursday, February 19th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $90.00 price objective on shares of Travel + Leisure in a research note on Friday, February 20th. Eight research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, Travel + Leisure has a consensus rating of “Moderate Buy” and an average price target of $85.90.

Insider Buying and Selling at Travel + Leisure

In other Travel + Leisure news, insider Amandine Robin-Caplan sold 3,904 shares of the firm’s stock in a transaction dated Friday, February 20th. The shares were sold at an average price of $74.61, for a total transaction of $291,277.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director George Herrera sold 1,748 shares of the firm’s stock in a transaction dated Wednesday, March 18th. The shares were sold at an average price of $70.31, for a total transaction of $122,901.88. Following the transaction, the director owned 1,853 shares of the company’s stock, valued at $130,284.43. This trade represents a 48.54% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 121,738 shares of company stock worth $9,136,054. 4.01% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Travel + Leisure

Hedge funds have recently added to or reduced their stakes in the business. AQR Capital Management LLC grew its holdings in 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 grew its holdings in Travel + Leisure by 68.3% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 885,105 shares of the company’s stock valued at $62,427,000 after purchasing an additional 359,186 shares during the period. Goldman Sachs Group Inc. grew its holdings in Travel + Leisure by 124.3% in the fourth quarter. Goldman Sachs Group Inc. now owns 567,478 shares of the company’s stock valued at $40,024,000 after purchasing an additional 314,481 shares during the period. Invesco Ltd. grew its holdings in Travel + Leisure by 8.4% in the third quarter. Invesco Ltd. now owns 3,486,173 shares of the company’s stock valued at $207,392,000 after purchasing an additional 270,474 shares during the period. Finally, Quantinno Capital Management LP grew its holdings in Travel + Leisure by 98.4% in the second quarter. Quantinno Capital Management LP now owns 488,307 shares of the company’s stock valued at $25,202,000 after purchasing an additional 242,231 shares during the period. 87.54% of the stock is currently owned by hedge funds and other institutional investors.

Travel + Leisure Company Profile

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.