Share Buyback Plan Approved by Global Business Travel Group (NYSE:GBTG)

Global Business Travel Group (NYSE:GBTG) declared that its Board of Directors has approved a stock repurchase program on Tuesday, November 5th, RTT News reports. The company plans to buyback $300.00 million in outstanding shares. This buyback authorization authorizes the company to reacquire up to 8.2% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.

Global Business Travel Group Trading Up 0.8 %

Global Business Travel Group stock opened at $7.74 on Wednesday. The company has a 50 day moving average price of $7.47 and a 200 day moving average price of $6.79. The firm has a market capitalization of $3.66 billion, a price-to-earnings ratio of -77.40 and a beta of 0.63. Global Business Travel Group has a 52 week low of $4.49 and a 52 week high of $7.95. The company has a debt-to-equity ratio of 1.11, a quick ratio of 1.65 and a current ratio of 1.65.

Global Business Travel Group (NYSE:GBTG) last issued its earnings results on Tuesday, August 6th. The company reported $0.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.11. The company had revenue of $625.00 million during the quarter, compared to analyst estimates of $643.97 million. Global Business Travel Group had a negative net margin of 1.66% and a negative return on equity of 1.26%. Research analysts forecast that Global Business Travel Group will post -0.08 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on GBTG. Evercore ISI lifted their price target on Global Business Travel Group from $9.00 to $10.00 and gave the company an “outperform” rating in a report on Wednesday, August 7th. Citigroup lifted their price target on shares of Global Business Travel Group from $9.00 to $9.50 and gave the stock a “buy” rating in a research report on Friday, October 4th.

About Global Business Travel Group

Global Business Travel Group, Inc provides business-to-business (B2B) travel platform in the United States and internationally. The company's platform offers a suite of technology-enabled solutions to business travelers and clients; travel content suppliers, such as airlines, hotels, ground transportation, and aggregators; and third-party travel agencies.