Zacks Investment Research upgraded shares of Hyatt Hotels (NYSE:H) from a hold rating to a buy rating in a research report sent to investors on Wednesday. They currently have $82.00 target price on the stock.
According to Zacks, “Shares of Hyatt have outperformed the industry in the past year, owing to better-than-expected earnings in the trailing 11 quarters. 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. Also, current year estimates have increased in the past 60 days, reflecting analysts’ optimism surrounding the company’s future earnings potential. Lingering global concerns in key operating regions and intense competition are likely to hurt revenues further. Hyatt’s weakness in the owned and leased segment is also a concern.”
A number of other brokerages have also recently commented on H. Longbow Research started coverage on Hyatt Hotels in a research report on Friday, September 7th. They set a buy rating and a $99.00 price target for the company. Robert W. Baird set a $88.00 price target on Hyatt Hotels and gave the stock a buy rating in a research report on Friday, October 19th. Jefferies Financial Group reaffirmed a hold rating and set a $84.00 price target on shares of Hyatt Hotels in a research report on Thursday, October 4th. Wells Fargo & Co lowered their price target on Hyatt Hotels from $92.00 to $79.00 and set an outperform rating for the company in a research report on Thursday, November 1st. Finally, SunTrust Banks lowered their price target on Hyatt Hotels to $78.00 and set a hold rating for the company in a research report on Thursday, November 1st. Ten investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The company presently has an average rating of Hold and an average target price of $82.30.
Hyatt Hotels (NYSE:H) last announced its earnings results on Tuesday, October 30th. The company reported $0.33 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.25 by $0.08. Hyatt Hotels had a return on equity of 4.95% and a net margin of 17.80%. The firm had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.09 billion. During the same period in the previous year, the business earned $0.26 EPS. On average, equities research analysts forecast that Hyatt Hotels will post 1.62 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 10th. Stockholders of record on Wednesday, November 28th will be issued a $0.15 dividend. The ex-dividend date is Tuesday, November 27th. This represents a $0.60 annualized dividend and a dividend yield of 0.86%. Hyatt Hotels’s dividend payout ratio (DPR) is presently 33.71%.
In related news, insider Mark R. Vondrasek sold 7,540 shares of the company’s stock in a transaction dated Friday, November 2nd. The stock was sold at an average price of $71.77, for a total value of $541,145.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider 8-26-22 Gp Llc sold 196,719 shares of the company’s stock in a transaction dated Thursday, September 20th. The stock was sold at an average price of $78.09, for a total value of $15,361,786.71. Following the completion of the transaction, the insider now directly owns 100,000 shares of the company’s stock, valued at approximately $7,809,000. The disclosure for this sale can be found here. In the last three months, insiders sold 276,828 shares of company stock valued at $20,902,937. Insiders own 18.40% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in H. Select Equity Group L.P. raised its holdings in Hyatt Hotels by 116.4% in the 3rd quarter. Select Equity Group L.P. now owns 1,509,904 shares of the company’s stock worth $120,173,000 after purchasing an additional 812,192 shares during the period. JPMorgan Chase & Co. raised its holdings in Hyatt Hotels by 110.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,106,350 shares of the company’s stock worth $88,055,000 after purchasing an additional 580,125 shares during the period. Glenmede Trust Co. NA acquired a new position in Hyatt Hotels in the 2nd quarter worth about $19,708,000. Renaissance Technologies LLC raised its holdings in Hyatt Hotels by 21.3% in the 2nd quarter. Renaissance Technologies LLC now owns 1,227,400 shares of the company’s stock worth $94,694,000 after purchasing an additional 215,700 shares during the period. Finally, MARSHALL WACE ASIA Ltd raised its holdings in Hyatt Hotels by 40.2% in the 3rd quarter. MARSHALL WACE ASIA Ltd now owns 659,188 shares of the company’s stock worth $52,465,000 after purchasing an additional 188,924 shares during the period. 36.70% of the stock is owned by institutional investors.
About Hyatt Hotels
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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