Hyatt Hotels (H) Downgraded by Zacks Investment Research
Zacks Investment Research lowered shares of Hyatt Hotels (NYSE:H) from a buy rating to a hold rating in a research note published on Wednesday morning.
According to Zacks, “Shares of Hyatt have outperformed the industry in the past year, owing to better-than-expected earnings in the trailing 10 quarters. Adjusted earnings in the second quarter not only surpassed estimates but also grew 41.2% year over year on higher margins. The company aims to continue gaining market share globally on a solid brand portfolio, and innovative and exceptional personalized service for the guests. Hyatt’s remodeled loyalty program and innovative offerings are expected to boost occupancy. Moreover, an increased focus on expanding presence in the fast-growing select-service category bodes well. However, both current-quarter and year estimates have remained unchanged in the past 30 days. Lingering global concerns in key operating regions and intense competition are likely to hurt revenues further. Also, Hyatt’s weakness in the owned and leased segment is a concern.”
Other equities analysts have also recently issued reports about the stock. Deutsche Bank lowered their price objective on shares of Hyatt Hotels from $88.00 to $87.00 and set a hold rating on the stock in a research report on Friday, May 4th. Berenberg Bank cut shares of Hyatt Hotels from a buy rating to a hold rating and lifted their price objective for the stock from $83.00 to $87.50 in a research report on Thursday, July 19th. Jefferies Financial Group began coverage on shares of Hyatt Hotels in a research report on Thursday, May 31st. They set a hold rating and a $85.00 price objective on the stock. Stifel Nicolaus lifted their price objective on shares of Hyatt Hotels from $80.00 to $82.00 and gave the stock a hold rating in a research report on Tuesday, May 8th. Finally, Citigroup lifted their price objective on shares of Hyatt Hotels from $82.00 to $95.00 and gave the stock a buy rating in a research report on Thursday, June 14th. Seven equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The company currently has an average rating of Buy and an average price target of $84.58.
Hyatt Hotels (NYSE:H) last posted its quarterly earnings results on Tuesday, July 31st. The company reported $0.72 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.48 by $0.24. The firm had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.14 billion. Hyatt Hotels had a net margin of 12.76% and a return on equity of 4.91%. sell-side analysts predict that Hyatt Hotels will post 1.58 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 20th. Investors of record on Thursday, September 6th will be paid a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 0.77%. The ex-dividend date of this dividend is Wednesday, September 5th. Hyatt Hotels’s payout ratio is presently 33.71%.
In other Hyatt Hotels news, insider H Co Lp Lci sold 110,480 shares of the business’s stock in a transaction on Wednesday, August 22nd. The shares were sold at an average price of $78.76, for a total transaction of $8,701,404.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Margaret C. Egan sold 4,300 shares of the business’s stock in a transaction on Thursday, June 14th. The stock was sold at an average price of $83.04, for a total transaction of $357,072.00. Following the transaction, the insider now directly owns 16 shares of the company’s stock, valued at approximately $1,328.64. The disclosure for this sale can be found here. 18.40% of the stock is owned by insiders.
Large investors have recently bought and sold shares of the company. Envestnet Asset Management Inc. increased its holdings in shares of Hyatt Hotels by 201.2% during the 1st quarter. Envestnet Asset Management Inc. now owns 1,566 shares of the company’s stock worth $119,000 after purchasing an additional 1,046 shares during the period. Point72 Asia Hong Kong Ltd increased its holdings in shares of Hyatt Hotels by 1,672.8% during the 1st quarter. Point72 Asia Hong Kong Ltd now owns 1,631 shares of the company’s stock worth $124,000 after purchasing an additional 1,539 shares during the period. Cutler Group LP bought a new position in shares of Hyatt Hotels during the 2nd quarter worth about $154,000. Point72 Hong Kong Ltd increased its holdings in shares of Hyatt Hotels by 54.7% during the 2nd quarter. Point72 Hong Kong Ltd now owns 2,523 shares of the company’s stock worth $195,000 after purchasing an additional 892 shares during the period. Finally, Intrust Bank NA bought a new position in shares of Hyatt Hotels during the 2nd quarter worth about $210,000. Institutional investors own 39.82% of the company’s stock.
Hyatt Hotels Company Profile
Hyatt Hotels Corporation, a hospitality company, develops, owns, operates, manages, franchises, licenses, or provides services to hotels, resorts, residential, and other properties. It operates in four segments: Owned and Leased Hotels, Americas Management and Franchising, ASPAC Management and Franchising, and EAME/SW Asia Management and Franchising.
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