Sabre Corporation (SABR) Shares Gap Up on Strong Earnings

Sabre Corporation (NASDAQ:SABR) shares gapped up before the market opened on Wednesday following a stronger than expected earnings report. The stock had previously closed at $20.37, but opened at $19.56. Sabre Corporation shares last traded at $19.35, with a volume of 1,509,772 shares traded.

The information technology services provider reported $0.31 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.07. The business had revenue of $900.60 million for the quarter, compared to analyst estimates of $884.04 million. Sabre Corporation had a return on equity of 53.97% and a net margin of 5.22%. Sabre Corporation’s revenue was up 7.3% compared to the same quarter last year. During the same period last year, the firm posted $0.27 earnings per share.

A number of analysts have recently commented on the company. BidaskClub lowered Sabre Corporation from a “sell” rating to a “strong sell” rating in a research note on Saturday, July 8th. Oppenheimer Holdings, Inc. reissued an “outperform” rating and set a $24.00 price target (down from $27.00) on shares of Sabre Corporation in a research note on Wednesday, August 2nd. TheStreet lowered Sabre Corporation from a “b” rating to a “c” rating in a research note on Tuesday, August 1st. Cowen and Company reissued an “outperform” rating and set a $23.00 price target (down from $26.00) on shares of Sabre Corporation in a research note on Wednesday, August 2nd. Finally, Mizuho reissued a “buy” rating and set a $25.00 price target (down from $27.00) on shares of Sabre Corporation in a research note on Wednesday, August 2nd. Three equities research analysts have rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $22.63.

In other news, insider Judson Wade Jones sold 3,822 shares of the firm’s stock in a transaction dated Thursday, August 10th. The stock was sold at an average price of $17.92, for a total transaction of $68,490.24. Following the completion of the transaction, the insider now directly owns 31,726 shares in the company, valued at $568,529.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.80% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently modified their holdings of the company. Creative Planning raised its position in shares of Sabre Corporation by 4.7% during the second quarter. Creative Planning now owns 4,578 shares of the information technology services provider’s stock worth $100,000 after acquiring an additional 205 shares during the last quarter. Toronto Dominion Bank raised its position in shares of Sabre Corporation by 2.1% during the second quarter. Toronto Dominion Bank now owns 12,444 shares of the information technology services provider’s stock worth $272,000 after acquiring an additional 254 shares during the last quarter. Utah Retirement Systems raised its position in shares of Sabre Corporation by 1.1% during the second quarter. Utah Retirement Systems now owns 38,100 shares of the information technology services provider’s stock worth $830,000 after acquiring an additional 400 shares during the last quarter. Xact Kapitalforvaltning AB raised its position in shares of Sabre Corporation by 2.4% during the second quarter. Xact Kapitalforvaltning AB now owns 30,997 shares of the information technology services provider’s stock worth $675,000 after acquiring an additional 716 shares during the last quarter. Finally, Lincoln Capital LLC raised its position in shares of Sabre Corporation by 0.5% during the second quarter. Lincoln Capital LLC now owns 181,538 shares of the information technology services provider’s stock worth $3,952,000 after acquiring an additional 827 shares during the last quarter.

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Sabre Corporation Company Profile

Sabre Corporation is a technology solutions provider to the global travel and tourism industry. The Company provides software and services to a range of travel suppliers and travel buyers. The Company operates through two business segments: Travel Network, and Airline and Hospitality Solutions. Travel Network is its global business-to-business travel marketplace and consists primarily of its global distribution system (GDS) and a set of solutions that integrate with its GDS to serve travel suppliers and travel buyers.

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