Despegar.com (DESP) Issues Earnings Results

Despegar.com (NYSE:DESP) posted its earnings results on Thursday. The company reported ($0.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.15), Briefing.com reports. The company had revenue of $121.25 million during the quarter, compared to the consensus estimate of $123.77 million. Despegar.com had a net margin of 7.45% and a return on equity of 17.07%. The business’s quarterly revenue was down 8.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.21 earnings per share.

Shares of DESP opened at $15.73 on Friday. The firm has a market cap of $1.15 billion and a PE ratio of 22.80. Despegar.com has a one year low of $14.66 and a one year high of $36.56.

Several institutional investors and hedge funds have recently modified their holdings of the company. Cohen Capital Management Inc. increased its holdings in shares of Despegar.com by 11.3% during the third quarter. Cohen Capital Management Inc. now owns 108,610 shares of the company’s stock valued at $1,832,000 after purchasing an additional 11,000 shares during the period. PNC Financial Services Group Inc. increased its holdings in shares of Despegar.com by 140.0% during the third quarter. PNC Financial Services Group Inc. now owns 6,066 shares of the company’s stock valued at $102,000 after purchasing an additional 3,538 shares during the period. Jupiter Asset Management Ltd. acquired a new position in shares of Despegar.com during the third quarter valued at $10,672,000. Albert D Mason Inc. increased its holdings in shares of Despegar.com by 39.3% during the third quarter. Albert D Mason Inc. now owns 26,565 shares of the company’s stock valued at $448,000 after purchasing an additional 7,490 shares during the period. Finally, Global Thematic Partners LLC increased its holdings in shares of Despegar.com by 118.2% during the third quarter. Global Thematic Partners LLC now owns 1,590,910 shares of the company’s stock valued at $26,838,000 after purchasing an additional 861,833 shares during the period. 76.80% of the stock is currently owned by institutional investors.

A number of equities research analysts have issued reports on DESP shares. Morgan Stanley cut their target price on Despegar.com from $31.00 to $24.00 and set an “equal weight” rating on the stock in a research note on Friday, July 20th. KeyCorp cut their target price on Despegar.com from $30.00 to $27.00 and set a “buy” rating on the stock in a research note on Friday, August 17th. UBS Group cut Despegar.com from a “market perform” rating to an “underperform” rating in a research note on Friday, August 17th. Citigroup cut their target price on Despegar.com from $28.00 to $25.00 and set a “neutral” rating on the stock in a research note on Friday, August 17th. Finally, Cowen reiterated a “buy” rating and issued a $20.00 target price on shares of Despegar.com in a research note on Friday, August 17th. One analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $29.14.

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Despegar.com Company Profile

Despegar.com, Corp., an online travel company, provides a range of travel and travel-related products through its Websites and mobile applications in Latin America. It operates through two segments, Air; and Packages, Hotels and Other Travel Products. The company offers airline tickets, packages, hotels, and other travel-related products under the Despegar and Decolar brands, which enable consumers to find, compare, plan, and purchase travel products through its marketplace.

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Earnings History for Despegar.com (NYSE:DESP)

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