Travel + Leisure (NYSE:TNL) Shares Gap Up on Better-Than-Expected Earnings

Travel + Leisure Co. (NYSE:TNL)’s share price gapped up prior to trading on Wednesday following a better than expected earnings announcement. 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 changing hands.

The company reported $1.57 earnings per share (EPS) for the quarter, topping the consensus estimate 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 business had revenue of $993.00 million for the quarter, compared to analysts’ expectations of $1.01 billion. During the same quarter last year, the firm earned $1.54 earnings per share. The business’s revenue was up .7% on a year-over-year basis.

Travel + Leisure Dividend Announcement

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

Analysts Set New Price Targets

A number of brokerages recently issued reports on TNL. Deutsche Bank Aktiengesellschaft dropped their price target 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. Truist Financial decreased their price objective on shares of Travel + Leisure from $65.00 to $60.00 and set a “buy” rating for the company in a research note on Thursday, September 5th. Barclays boosted their target price on Travel + Leisure from $40.00 to $41.00 and gave the company an “underweight” rating in a research note on Thursday. JPMorgan Chase & Co. boosted their target price on Travel + Leisure from $53.00 to $63.00 and gave the stock an “overweight” rating in a report on Friday, July 19th. 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 note on Thursday. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $55.00.

Insider Activity at Travel + Leisure

In related news, Director George Herrera sold 2,193 shares of Travel + Leisure stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $42.48, for a total value of $93,158.64. Following the transaction, the director now directly owns 6,352 shares of the company’s stock, valued at $269,832.96. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Travel + Leisure news, Director George Herrera sold 2,193 shares of Travel + Leisure stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $42.48, for a total transaction of $93,158.64. Following the transaction, the director now directly owns 6,352 shares of the company’s stock, valued at approximately $269,832.96. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 directly owns 24,491 shares of the company’s stock, valued at approximately $1,024,703.44. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 4.02% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Travel + Leisure

Several institutional investors have recently modified their holdings of TNL. Swedbank AB purchased a new position in shares of Travel + Leisure in the first quarter valued at $33,598,000. Millennium Management LLC increased its stake in Travel + Leisure by 440.7% in the 2nd quarter. Millennium Management LLC now owns 614,141 shares of the company’s stock worth $27,624,000 after acquiring an additional 500,554 shares during the last quarter. Vanguard Group Inc. raised 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 acquiring an additional 466,640 shares in the last quarter. Acadian Asset Management LLC boosted its position in shares of Travel + Leisure by 318.4% during the 2nd quarter. Acadian Asset Management LLC now owns 405,252 shares of the company’s stock valued at $18,217,000 after acquiring an additional 308,391 shares during the last quarter. Finally, Point72 Asset Management L.P. purchased a new position in shares of Travel + Leisure during the second quarter worth about $7,480,000. 87.54% of the stock is owned by institutional investors.

Travel + Leisure Stock Up 0.7 %

The company’s 50-day moving average is $44.57 and its two-hundred day moving average is $44.62. The company has a market capitalization of $3.32 billion, a P/E ratio of 7.95, a PEG ratio of 0.62 and a beta of 1.62.

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.