Belmond Ltd. (BEL) Upgraded by Zacks Investment Research to Hold
Belmond Ltd. (NYSE:BEL) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Tuesday.
According to Zacks, “Belmond is a global collection of exceptional hotel and luxury travel adventures in some of the world’s most inspiring and enriching destinations. Established almost 40 years ago with the acquisition of Belmond Hotel Cipriani in Venice, the Company owns and operates unique and distinctive hotel, rail and river cruise experiences in many of the world’s most celebrated destinations. From city landmarks to intimate resorts, the collection includes Belmond Grand Hotel Europe, St. Petersburg; Belmond Copacabana Palace, Rio de Janeiro; Belmond Maroma Resort & Spa, Riviera Maya; and Belmond El Encanto, Santa Barbara. Belmond also encompasses safaris, six luxury tourist trains including the Venice Simplon-Orient-Express, three river cruises and ’21’, one of New York’s most storied restaurants. “
Several other brokerages have also weighed in on BEL. Deutsche Bank AG reiterated a “buy” rating on shares of Belmond in a report on Sunday, June 26th. Barclays PLC reiterated a “buy” rating and set a $13.00 price objective on shares of Belmond in a report on Thursday, August 11th. MKM Partners upgraded shares of Belmond from a “sell” rating to a “neutral” rating and upped their price objective for the company from $9.50 to $12.00 in a report on Thursday, August 4th. < Finally, Telsey Advisory Group upped their price objective on shares of Belmond from $10.00 to $11.00 and gave the company a "market perform" rating in a report on Friday, August 5th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. The stock currently has a consensus rating of "Buy" and an average target price of C$12.67.
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Shares of Belmond (NYSE:BEL) traded down 1.52% during midday trading on Tuesday, reaching $12.29. 196,934 shares of the company traded hands. The company has a 50-day moving average of $11.86 and a 200 day moving average of $10.46. Belmond has a 12-month low of $7.31 and a 12-month high of $12.86. The firm has a market capitalization of $1.25 billion, a PE ratio of 73.59 and a beta of 1.51.
Belmond (NYSE:BEL) last announced its quarterly earnings data on Wednesday, August 3rd. The company reported $0.08 earnings per share for the quarter, missing the consensus estimate of $0.09 by $0.01. Belmond had a net margin of 3.09% and a return on equity of 2.70%. The company had revenue of $158.10 million for the quarter, compared to analyst estimates of $163.25 million. On average, equities analysts forecast that Belmond will post $0.25 earnings per share for the current year.
Several large investors have recently bought and sold shares of BEL. Vanguard Group Inc. increased its stake in Belmond by 2.2% in the second quarter. Vanguard Group Inc. now owns 6,815,731 shares of the company’s stock valued at $67,475,000 after buying an additional 145,703 shares during the last quarter. BlackRock Fund Advisors increased its stake in shares of Belmond by 143.9% in the first quarter. BlackRock Fund Advisors now owns 5,674,226 shares of the company’s stock worth $53,848,000 after buying an additional 3,347,551 shares during the last quarter. Hosking Partners LLP increased its stake in shares of Belmond by 14.8% in the second quarter. Hosking Partners LLP now owns 2,728,085 shares of the company’s stock worth $27,008,000 after buying an additional 352,669 shares during the last quarter. Cove Street Capital LLC increased its stake in shares of Belmond by 7.0% in the second quarter. Cove Street Capital LLC now owns 2,078,235 shares of the company’s stock worth $20,574,000 after buying an additional 136,777 shares during the last quarter. Finally, Teachers Advisors Inc. increased its stake in shares of Belmond by 7.5% in the first quarter. Teachers Advisors Inc. now owns 1,250,402 shares of the company’s stock worth $11,866,000 after buying an additional 87,539 shares during the last quarter. 76.78% of the stock is owned by institutional investors.
Belmond Ltd. (Belmond), formerly Orient-Express Hotels Ltd. is a luxury hotel company and adventure travel operator. The Company owns, partially-owns and/or operates over 40 properties consisting of approximately 30 individual deluxe hotels, over one stand-alone restaurant, approximately six tourist trains and over three river/canal cruise businesses.
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