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

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

Global Business Travel Group Trading Up 0.8 %

GBTG stock opened at $7.74 on Wednesday. The business has a fifty day moving average of $7.47 and a 200-day moving average of $6.79. The company has a market cap of $3.66 billion, a P/E ratio of -77.40 and a beta of 0.63. 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 has a twelve month low of $4.49 and a twelve month high of $7.95.

Global Business Travel Group (NYSE:GBTG) last posted 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. Global Business Travel Group had a negative return on equity of 1.26% and a negative net margin of 1.66%. The firm had revenue of $625.00 million during the quarter, compared to analysts’ expectations of $643.97 million. As a group, equities research analysts expect that Global Business Travel Group will post -0.08 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Evercore ISI boosted their price target on Global Business Travel Group from $9.00 to $10.00 and gave the company an “outperform” rating in a research note on Wednesday, August 7th. Citigroup boosted their price target on Global Business Travel Group from $9.00 to $9.50 and gave the company a “buy” rating in a research note 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.