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

Travel + Leisure Co. (NYSE:TNL) gapped up before the market opened on Wednesday after the company announced better than expected quarterly earnings. 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.

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

Travel + Leisure Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of research firms recently commented on TNL. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Travel + Leisure from $65.00 to $62.00 and set a “buy” rating for the company in a research note on Thursday, July 25th. Barclays increased their target price on Travel + Leisure from $40.00 to $41.00 and gave the company an “underweight” rating in a research report on Thursday. JPMorgan Chase & Co. raised their target price on Travel + Leisure from $53.00 to $63.00 and gave the company an “overweight” rating in a research report on Friday, July 19th. Tigress Financial boosted their price target on shares of Travel + Leisure from $54.00 to $58.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. Finally, The Goldman Sachs Group raised their price objective on shares of Travel + Leisure from $44.00 to $49.00 and gave the stock a “neutral” rating in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $55.00.

Insider Activity

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

Institutional Investors Weigh In On Travel + Leisure

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

Travel + Leisure Price Performance

The firm’s 50 day moving average price is $44.57 and its two-hundred day moving average price is $44.62. The firm has a market cap of $3.32 billion, a price-to-earnings ratio of 7.95, a P/E/G ratio of 0.62 and a beta of 1.62.

Travel + Leisure Company Profile

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.