Hyatt Hotels Corporation (H) Posts Quarterly Earnings Results, Beats Estimates By $0.01 EPS
Hyatt Hotels Corporation (NYSE:H) released its earnings results on Thursday. The company reported $0.29 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.28 by $0.01. The company earned $1.09 billion during the quarter, compared to the consensus estimate of $1.11 billion. Hyatt Hotels Corporation had a net margin of 4.49% and a return on equity of 5.33%. The company’s revenue was down 2.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.21 EPS.
Hyatt Hotels Corporation (NYSE:H) opened at 56.09 on Friday. The firm has a market capitalization of $7.34 billion, a price-to-earnings ratio of 38.18 and a beta of 1.34. Hyatt Hotels Corporation has a 1-year low of $42.75 and a 1-year high of $58.05. The firm’s 50-day moving average is $55.35 and its 200-day moving average is $53.16.
In other Hyatt Hotels Corporation news, major shareholder Gregory Boyd Penner sold 4,000,000 shares of the stock in a transaction on Wednesday, November 30th. The shares were sold at an average price of $50.80, for a total value of $203,200,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Madrone Ghc, Llc sold 1,225,000 shares of the stock in a transaction on Friday, December 9th. The shares were sold at an average price of $55.49, for a total transaction of $67,975,250.00. Following the completion of the sale, the insider now directly owns 997,246 shares of the company’s stock, valued at $55,337,180.54. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 5,660,914 shares of company stock valued at $294,683,852. 25.50% of the stock is owned by insiders.
A number of hedge funds have recently modified their holdings of H. GRS Advisors LLC increased its stake in shares of Hyatt Hotels Corporation by 2.5% in the second quarter. GRS Advisors LLC now owns 289,400 shares of the company’s stock worth $14,221,000 after buying an additional 7,000 shares during the period. Engine Capital Management LLC bought a new stake in shares of Hyatt Hotels Corporation during the second quarter worth $491,000. Legal & General Group Plc increased its stake in shares of Hyatt Hotels Corporation by 3.1% in the second quarter. Legal & General Group Plc now owns 3,217 shares of the company’s stock worth $158,000 after buying an additional 97 shares during the period. Stifel Financial Corp bought a new stake in shares of Hyatt Hotels Corporation during the second quarter worth $450,000. Finally, Wedge Capital Management L L P NC increased its stake in shares of Hyatt Hotels Corporation by 7.1% in the second quarter. Wedge Capital Management L L P NC now owns 199,591 shares of the company’s stock worth $9,808,000 after buying an additional 13,198 shares during the period. 19.52% of the stock is owned by hedge funds and other institutional investors.
Several equities research analysts have recently weighed in on the stock. Zacks Investment Research downgraded shares of Hyatt Hotels Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, February 7th. Berenberg Bank downgraded shares of Hyatt Hotels Corporation from a “buy” rating to a “hold” rating and boosted their target price for the stock from $54.50 to $60.00 in a research report on Wednesday, January 25th. Bank of America Corporation raised shares of Hyatt Hotels Corporation from a “neutral” rating to a “buy” rating in a research report on Thursday, December 15th. TheStreet raised shares of Hyatt Hotels Corporation from a “hold” rating to a “buy” rating in a research report on Wednesday, December 7th. Finally, Morgan Stanley reaffirmed an “underweight” rating and set a $46.00 price objective (down previously from $47.00) on shares of Hyatt Hotels Corporation in a research report on Wednesday, December 7th. Four analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and five have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $52.04.
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About Hyatt Hotels Corporation
Hyatt Hotels Corporation is a global hospitality company. The Company develops, owns, operates, manages, franchises, licenses or provides services to a portfolio of properties, consisting of full service hotels, select service hotels, resorts and other properties, including timeshare, fractional and other forms of residential and vacation properties.
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