Stock Buyback Plan Authorized by Global Business Travel Group (NYSE:GBTG) Board

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

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Citigroup upped 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 report on Friday, October 4th. Evercore ISI upped their target price on Global Business Travel Group from $9.00 to $10.00 and gave the stock an “outperform” rating in a report on Wednesday, August 7th.

Global Business Travel Group Stock Performance

Shares of GBTG opened at $7.91 on Friday. Global Business Travel Group has a 12-month low of $4.49 and a 12-month high of $8.55. The business has a 50-day simple moving average of $7.50 and a two-hundred day simple moving average of $6.81. The company has a quick ratio of 1.65, a current ratio of 1.65 and a debt-to-equity ratio of 1.11.

Global Business Travel Group (NYSE:GBTG) last issued its quarterly earnings results on Tuesday, November 5th. The company reported ($0.22) earnings per share for the quarter, missing the consensus estimate of ($0.08) by ($0.14). The company had revenue of $597.00 million during the quarter, compared to analyst estimates of $611.89 million. Global Business Travel Group had a negative net margin of 1.66% and a negative return on equity of 1.26%. During the same period in the previous year, the company posted ($0.02) EPS. As a group, analysts predict that Global Business Travel Group will post -0.08 EPS for the current year.

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.