Belmond Ltd. (BEL) Upgraded to Hold by Zacks Investment Research
Belmond Ltd. (NYSE:BEL) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued 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. “
BEL has been the subject of a number of other reports. Telsey Advisory Group upped their price target on shares of Belmond from $10.00 to $11.00 and gave the stock a “market perform” rating in a research report on Friday, August 5th. MKM Partners raised shares of Belmond from a “sell” rating to a “neutral” rating and upped their price target for the stock from $9.50 to $12.00 in a research report on Thursday, August 4th. < Deutsche Bank AG upped their price objective on shares of Belmond from $12.00 to $13.00 and gave the company a "buy" rating in a research report on Friday, August 5th. Finally, Barclays PLC reissued a "buy" rating and issued a $13.00 price objective on shares of Belmond in a research report on Thursday, August 11th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Belmond has an average rating of "Buy" and an average price target of C$12.67.
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Shares of Belmond (NYSE:BEL) traded down 1.52% during trading on Tuesday, reaching $12.29. The company had a trading volume of 196,934 shares. The stock has a market capitalization of $1.25 billion, a price-to-earnings ratio of 73.59 and a beta of 1.51. The stock has a 50 day moving average of $11.86 and a 200 day moving average of $10.46. Belmond has a 52-week low of $7.31 and a 52-week high of $12.86.
Belmond (NYSE:BEL) last announced its quarterly earnings results on Wednesday, August 3rd. The company reported $0.08 earnings per share for the quarter, missing analysts’ consensus estimates of $0.09 by $0.01. Belmond had a return on equity of 2.70% and a net margin of 3.09%. The business had revenue of $158.10 million for the quarter, compared to analysts’ expectations of $163.25 million. Equities research analysts forecast that Belmond will post $0.25 EPS for the current year.
Institutional investors have recently modified their holdings of the company. Fox Run Management L.L.C. bought a new position in shares of Belmond during the second quarter valued at approximately $100,000. PineBridge Investments L.P. boosted its position in shares of Belmond by 4.1% in the second quarter. PineBridge Investments L.P. now owns 11,074 shares of the company’s stock valued at $110,000 after buying an additional 437 shares during the last quarter. Hsbc Holdings PLC boosted its position in shares of Belmond by 8.2% in the second quarter. Hsbc Holdings PLC now owns 11,097 shares of the company’s stock valued at $111,000 after buying an additional 844 shares during the last quarter. Clinton Group Inc. bought a new position in shares of Belmond during the second quarter valued at approximately $116,000. Finally, Teacher Retirement System of Texas boosted its position in shares of Belmond by 12.2% in the second quarter. Teacher Retirement System of Texas now owns 12,699 shares of the company’s stock valued at $126,000 after buying an additional 1,380 shares during the last quarter. 76.78% of the stock is currently owned by institutional investors and hedge funds.
Belmond Company Profile
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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