Stock Repurchase Plan Announced by Hyatt Hotels (H)

Hyatt Hotels (NYSE:H) announced that its Board of Directors has approved a stock repurchase program, which authorizes the company to buyback $750.00 million in shares on Thursday, December 14th, EventVestor reports. This buyback authorization authorizes the company to reacquire shares of its stock through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its stock is undervalued.

Shares of Hyatt Hotels (NYSE:H) opened at $71.25 on Monday. The company has a quick ratio of 1.04, a current ratio of 1.06 and a debt-to-equity ratio of 0.39. The stock has a market cap of $8,467.70, a PE ratio of 39.57, a price-to-earnings-growth ratio of 10.13 and a beta of 1.25. Hyatt Hotels has a twelve month low of $50.21 and a twelve month high of $73.33.

Hyatt Hotels (NYSE:H) last posted its quarterly earnings data on Thursday, November 2nd. The company reported $0.26 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.17 by $0.09. The firm had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.09 billion. Hyatt Hotels had a net margin of 4.66% and a return on equity of 6.13%. During the same quarter in the previous year, the firm posted $0.47 EPS. equities research analysts expect that Hyatt Hotels will post 1.73 earnings per share for the current fiscal year.

Several analysts recently commented on H shares. Wells Fargo & Company raised shares of Hyatt Hotels from a “market perform” rating to an “outperform” rating and set a $76.00 target price for the company in a report on Monday, November 6th. B. Riley downgraded shares of Hyatt Hotels from a “buy” rating to a “neutral” rating and set a $70.00 target price for the company. in a report on Monday, November 6th. SunTrust Banks reissued a “hold” rating and issued a $61.00 price objective on shares of Hyatt Hotels in a report on Tuesday, October 17th. Berenberg Bank raised shares of Hyatt Hotels from a “hold” rating to a “buy” rating and boosted their price objective for the company from $69.20 to $78.00 in a report on Friday, November 10th. Finally, MKM Partners raised shares of Hyatt Hotels from a “neutral” rating to a “buy” rating and set a $79.00 price objective for the company in a report on Thursday, December 7th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $71.27.

In other news, insider P.G. Penny Trust sold 600,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 21st. The shares were sold at an average price of $70.00, for a total value of $42,000,000.00. Following the completion of the transaction, the insider now directly owns 600,000 shares in the company, valued at approximately $42,000,000. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Mark Samuel Hoplamazian sold 49,173 shares of the business’s stock in a transaction that occurred on Thursday, December 7th. The shares were sold at an average price of $71.54, for a total transaction of $3,517,836.42. Following the completion of the transaction, the insider now owns 300,655 shares of the company’s stock, valued at $21,508,858.70. The disclosure for this sale can be found here. Insiders sold a total of 1,000,001 shares of company stock valued at $68,120,268 in the last three months. Insiders own 27.51% of the company’s stock.

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Hyatt Hotels Company Profile

Hyatt Hotels Corporation is a global hospitality company. The Company develops, owns, operates, manages, franchises, licenses or provides services to a portfolio of properties. The Company operates through four segments: owned and leased hotels; Americas management and franchising (Americas); ASPAC management and franchising (ASPAC), and EAME/SW Asia management and franchising (EAME/SW Asia).

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