Belmond Ltd. (NYSE:BEL) Upgraded by Zacks Investment Research to “Hold”
Belmond Ltd. (NYSE:BEL) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research note issued to investors on Tuesday, July 11th.
According to Zacks, “Belmond is a global collection of exceptional hotel and luxury travel adventures in some of the world’s most inspiring and enriching destinations. Established almost 40 years ago with the acquisition of Belmond Hotel Cipriani in Venice, the Company owns and operates unique and distinctive hotel, rail and river cruise experiences in many of the world’s most celebrated destinations. From city landmarks to intimate resorts, the collection includes Belmond Grand Hotel Europe, St. Petersburg; Belmond Copacabana Palace, Rio de Janeiro; Belmond Maroma Resort & Spa, Riviera Maya; and Belmond El Encanto, Santa Barbara. Belmond also encompasses safaris, six luxury tourist trains including the Venice Simplon-Orient-Express, three river cruises and ’21’, one of New York’s most storied restaurants. “
Several other analysts have also recently issued reports on the stock. Telsey Advisory Group raised shares of Belmond from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $14.00 to $16.00 in a research report on Tuesday, June 6th. BidaskClub raised shares of Belmond from a “sell” rating to a “hold” rating in a research report on Thursday, June 29th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $14.60.
Belmond (BEL) opened at 13.10 on Tuesday. Belmond has a 52-week low of $10.86 and a 52-week high of $14.45. The firm’s 50-day moving average is $13.13 and its 200-day moving average is $12.85. The stock has a market cap of $1.34 billion, a P/E ratio of 69.31 and a beta of 0.93.
Belmond (NYSE:BEL) last issued its quarterly earnings results on Monday, May 8th. The company reported ($0.16) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.11) by $0.05. The business had revenue of $95.40 million for the quarter, compared to analyst estimates of $91.83 million. Belmond had a return on equity of 1.74% and a net margin of 3.61%. Equities research analysts predict that Belmond will post $0.18 earnings per share for the current year.
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Several hedge funds have recently added to or reduced their stakes in the company. Arizona State Retirement System raised its stake in Belmond by 1.1% in the first quarter. Arizona State Retirement System now owns 44,000 shares of the company’s stock worth $532,000 after buying an additional 500 shares during the last quarter. KBC Group NV raised its stake in Belmond by 7.4% in the first quarter. KBC Group NV now owns 48,116 shares of the company’s stock worth $582,000 after buying an additional 3,315 shares during the last quarter. Comerica Bank raised its stake in Belmond by 6.6% in the fourth quarter. Comerica Bank now owns 76,775 shares of the company’s stock worth $1,013,000 after buying an additional 4,769 shares during the last quarter. Gamco Investors INC. ET AL raised its stake in Belmond by 1.3% in the first quarter. Gamco Investors INC. ET AL now owns 618,000 shares of the company’s stock worth $7,478,000 after buying an additional 8,000 shares during the last quarter. Finally, Teachers Advisors LLC raised its stake in Belmond by 2.0% in the first quarter. Teachers Advisors LLC now owns 1,312,538 shares of the company’s stock worth $15,882,000 after buying an additional 25,382 shares during the last quarter. Hedge funds and other institutional investors own 75.43% of the company’s stock.
Belmond Ltd. (Belmond) is a hotel company and adventure travel operator. As of December 31, 2016, Belmond owned, partially-owned and/or operated 45 properties, consisting of 34 individual deluxe hotels, 29 of which are owned (including nine under long-term lease), five European tourist trains, two cruise ships in Myanmar (one of which is under long-term charter), one French canal cruise business consisting of five small canal boats, and one stand-alone restaurant in the United States.
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