$1.11 Billion in Sales Expected for Hyatt Hotels Corporation (H) This Quarter
Brokerages forecast that Hyatt Hotels Corporation (NYSE:H) will post $1.11 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Seven analysts have provided estimates for Hyatt Hotels Corporation’s earnings, with the lowest sales estimate coming in at $1.07 billion and the highest estimate coming in at $1.18 billion. Hyatt Hotels Corporation reported sales of $1.09 billion during the same quarter last year, which indicates a positive year over year growth rate of 1.8%. The firm is scheduled to report its next earnings results on Thursday, November 2nd.
On average, analysts expect that Hyatt Hotels Corporation will report full-year sales of $1.11 billion for the current year, with estimates ranging from $4.56 billion to $4.67 billion. For the next financial year, analysts expect that the firm will post sales of $4.76 billion per share, with estimates ranging from $4.59 billion to $4.95 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that follow Hyatt Hotels Corporation.
Hyatt Hotels Corporation (NYSE:H) last posted its quarterly earnings results on Thursday, August 3rd. The company reported $0.52 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.35 by $0.17. Hyatt Hotels Corporation had a return on equity of 6.78% and a net margin of 5.71%. The business had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.20 billion. During the same period in the prior year, the company posted $0.64 EPS.
Several analysts recently commented on the company. FBR & Co reiterated a “buy” rating on shares of Hyatt Hotels Corporation in a research report on Monday, May 15th. Stifel Nicolaus boosted their price target on Hyatt Hotels Corporation from $54.00 to $59.00 and gave the stock a “hold” rating in a research report on Monday, May 15th. Deutsche Bank AG reiterated a “hold” rating and set a $60.00 price target (up from $59.00) on shares of Hyatt Hotels Corporation in a research report on Wednesday, August 9th. Wolfe Research upgraded Hyatt Hotels Corporation from an “underperform” rating to a “market perform” rating in a research report on Monday, July 10th. Finally, Citigroup Inc. reiterated a “neutral” rating on shares of Hyatt Hotels Corporation in a research report on Thursday, May 11th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $56.62.
In other Hyatt Hotels Corporation news, insider Don G.C. Trust #8 sold 42,146 shares of the company’s stock in a transaction dated Tuesday, August 8th. The stock was sold at an average price of $59.55, for a total transaction of $2,509,794.30. Following the sale, the insider now owns 42,146 shares in the company, valued at approximately $2,509,794.30. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Richard A. Friedman sold 8,654,050 shares of the company’s stock in a transaction dated Monday, August 14th. The stock was sold at an average price of $57.58, for a total value of $498,300,199.00. The disclosure for this sale can be found here. 27.51% of the stock is currently owned by corporate insiders.
A number of large investors have recently modified their holdings of the company. Morgan Stanley increased its stake in shares of Hyatt Hotels Corporation by 85.5% in the first quarter. Morgan Stanley now owns 2,624,726 shares of the company’s stock valued at $141,682,000 after buying an additional 1,209,744 shares during the period. MARSHALL WACE ASIA Ltd bought a new stake in shares of Hyatt Hotels Corporation during the first quarter valued at $37,860,000. Marshall Wace North America L.P. bought a new stake in shares of Hyatt Hotels Corporation during the first quarter valued at $37,860,000. Cibc World Markets Corp bought a new stake in shares of Hyatt Hotels Corporation during the second quarter valued at $37,099,000. Finally, BNP Paribas Arbitrage SA increased its stake in shares of Hyatt Hotels Corporation by 485.2% in the second quarter. BNP Paribas Arbitrage SA now owns 624,966 shares of the company’s stock valued at $35,129,000 after buying an additional 518,164 shares during the period. Institutional investors own 30.68% of the company’s stock.
Hyatt Hotels Corporation (NYSE:H) traded up 0.25% on Tuesday, hitting $59.66. The stock had a trading volume of 477,786 shares. The company has a 50-day moving average of $56.80 and a 200 day moving average of $55.68. Hyatt Hotels Corporation has a 12 month low of $47.94 and a 12 month high of $61.07. The company has a market cap of $7.46 billion, a PE ratio of 29.92 and a beta of 1.28.
Hyatt Hotels Corporation declared that its board has initiated a stock buyback program on Thursday, May 4th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the company to reacquire up to 6.7% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s management believes its shares are undervalued.
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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. The Company operates through four segments: owned and leased hotels; Americas management and franchising (Americas); ASPAC management and franchising (ASPAC), and EAME/SW Asia management and franchising (EAME/SW Asia).
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