Hyatt Hotels Reaches New 12-Month High After Earnings Beat (H)
Hyatt Hotels (NYSE:H)’s share price hit a new 52-week high during trading on Wednesday after the company announced better than expected quarterly earnings, StockRatingsNetwork reports. The stock traded as high as $56.00 and last traded at $55.76, with a volume of 276,212 shares changing hands. The stock had previously closed at $54.02.
The company reported $0.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.02. The company had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.06 billion. During the same quarter in the previous year, the company posted $0.09 earnings per share. The company’s revenue for the quarter was up 10.2% on a year-over-year basis.
A number of analysts have recently weighed in on H shares. Analysts at Zacks upgraded shares of Hyatt Hotels from a “neutral” rating to an “outperform” rating in a research note on Tuesday. They now have a $55.80 price target on the stock. Separately, analysts at Citigroup Inc. reiterated a “hold” rating on shares of Hyatt Hotels in a research note on Monday, April 14th. They now have a $62.00 price target on the stock, up previously from $55.00. Finally, analysts at FBR Capital Markets raised their price target on shares of Hyatt Hotels from $55.00 to $62.00 in a research note on Monday, April 14th. They now have an “outperform” rating on the stock. Five equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Hyatt Hotels presently has an average rating of “Buy” and a consensus target price of $56.68.
The stock has a 50-day moving average of $53.76 and a 200-day moving average of $50.05. The company has a market cap of $8.713 billion and a price-to-earnings ratio of 41.55.
Hyatt Hotels Corporation (NYSE:H) is a global hospitality company.
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