Global Business Travel Group (NYSE:GBTG) Announces Quarterly Earnings Results

Global Business Travel Group (NYSE:GBTG) released its quarterly earnings results on Monday. The company reported $0.10 earnings per share for the quarter, topping analysts’ consensus estimates of $0.05 by $0.05, FiscalAI reports. The firm had revenue of $840.00 million during the quarter, compared to the consensus estimate of $815.97 million. Global Business Travel Group had a return on equity of 6.20% and a net margin of 4.01%.The company’s revenue for the quarter was up 35.3% on a year-over-year basis.

Global Business Travel Group Stock Performance

GBTG opened at $5.94 on Monday. Global Business Travel Group has a 12-month low of $4.95 and a 12-month high of $8.64. The stock has a market cap of $3.11 billion, a price-to-earnings ratio of 25.80, a PEG ratio of 1.15 and a beta of 0.75. The business has a 50 day moving average of $5.62 and a 200-day moving average of $6.76. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.84.

Institutional Inflows and Outflows

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

Analyst Upgrades and Downgrades

A number of analysts have recently commented on GBTG shares. Morgan Stanley cut their price objective on shares of Global Business Travel Group from $8.00 to $7.00 and set an “equal weight” rating on the stock in a research report on Monday, March 9th. Bank of America assumed coverage on shares of Global Business Travel Group in a research note on Tuesday, April 7th. They issued a “neutral” rating and a $6.50 price target on the stock. Wall Street Zen raised shares of Global Business Travel Group from a “hold” rating to a “buy” rating in a research report on Saturday, April 18th. Citigroup reduced their price objective on shares of Global Business Travel Group from $11.00 to $9.00 and set a “buy” rating for the company in a research note on Thursday, March 12th. Finally, BTIG Research decreased their price objective on Global Business Travel Group from $10.00 to $9.00 and set a “buy” rating for the company in a report on Monday, March 9th. Four research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Global Business Travel Group presently has a consensus rating of “Hold” and an average target price of $8.81.

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.