Travel + Leisure (NYSE:TNL) Shares Gap Up on Earnings Beat

Travel + Leisure Co. (NYSE:TNL)’s share price gapped up before the market opened on Wednesday following a stronger than expected earnings report. The stock had previously closed at $45.44, but opened at $47.25. Travel + Leisure shares last traded at $48.58, with a volume of 132,843 shares traded.

The company reported $1.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.49 by $0.08. The firm had revenue of $993.00 million for the quarter, compared to the consensus estimate of $1.01 billion. Travel + Leisure had a net margin of 11.35% and a negative return on equity of 46.63%. The company’s revenue for the quarter was up .7% on a year-over-year basis. During the same period in the prior year, the firm posted $1.54 earnings per share.

Travel + Leisure Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 13th were given a dividend of $0.50 per share. The ex-dividend date was Friday, September 13th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.20%. Travel + Leisure’s dividend payout ratio (DPR) is presently 33.39%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on TNL shares. The Goldman Sachs Group upped their target price on Travel + Leisure from $44.00 to $49.00 and gave the stock a “neutral” rating in a research note on Thursday. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Travel + Leisure from $65.00 to $62.00 and set a “buy” rating on the stock in a report on Thursday, July 25th. Barclays boosted their price target on shares of Travel + Leisure from $40.00 to $41.00 and gave the stock an “underweight” rating in a research note on Thursday. Truist Financial reduced their price objective on Travel + Leisure from $65.00 to $60.00 and set a “buy” rating on the stock in a research note on Thursday, September 5th. Finally, Tigress Financial lifted their price objective on Travel + Leisure from $54.00 to $58.00 and gave the stock a “buy” rating in a report on Monday, July 29th. One analyst has rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, Travel + Leisure currently has an average rating of “Moderate Buy” and an average target price of $55.00.

Insider Buying and Selling at Travel + Leisure

In other news, insider Amandine Robin-Caplan sold 3,246 shares of the company’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $41.84, for a total value of $135,812.64. Following the transaction, the insider now directly owns 24,491 shares in the company, valued at approximately $1,024,703.44. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, insider Amandine Robin-Caplan sold 3,246 shares of Travel + Leisure stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $41.84, for a total value of $135,812.64. Following the transaction, the insider now directly owns 24,491 shares in the company, valued at approximately $1,024,703.44. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director George Herrera sold 2,193 shares of the firm’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $42.48, for a total transaction of $93,158.64. Following the completion of the sale, the director now owns 6,352 shares in the company, valued at $269,832.96. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 4.02% of the company’s stock.

Institutional Trading of Travel + Leisure

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. boosted its holdings in Travel + Leisure by 4.6% in the 4th quarter. Vanguard Group Inc. now owns 10,722,330 shares of the company’s stock worth $419,136,000 after buying an additional 466,640 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in shares of Travel + Leisure by 1.3% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 34,068 shares of the company’s stock worth $1,668,000 after acquiring an additional 445 shares in the last quarter. Diversified Trust Co acquired a new stake in Travel + Leisure in the first quarter valued at approximately $576,000. State of Michigan Retirement System lifted its position in shares of Travel + Leisure by 2.3% during the 1st quarter. State of Michigan Retirement System now owns 17,807 shares of the company’s stock worth $872,000 after purchasing an additional 400 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its position in shares of Travel + Leisure by 1.9% during the 1st quarter. Principal Financial Group Inc. now owns 368,324 shares of the company’s stock worth $18,033,000 after acquiring an additional 6,968 shares in the last quarter. Institutional investors and hedge funds own 87.54% of the company’s stock.

Travel + Leisure Stock Up 0.7 %

The company has a market cap of $3.32 billion, a price-to-earnings ratio of 7.95, a price-to-earnings-growth ratio of 0.62 and a beta of 1.62. The firm has a 50-day simple moving average of $44.57 and a 200 day simple moving average of $44.62.

About Travel + Leisure

Travel + Leisure Co, together with its subsidiaries, provides hospitality services and travel products in the United States and internationally. The company operates in two segments, Vacation Ownership; and Travel and Membership. The Vacation Ownership segment develops, markets, and sells vacation ownership interests (VOIs) to individual consumers, as well as provides consumer financing in connection with the sale of VOIs; and property management services at resorts.