Travel + Leisure (NYSE:TNL) Announces Quarterly Earnings Results

Travel + Leisure (NYSE:TNL - Get Free Report) announced its quarterly earnings data on Wednesday. The company reported $1.65 EPS for the quarter, missing analysts' consensus estimates of $1.66 by ($0.01), Zacks reports. The firm had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.01 billion. Travel + Leisure had a net margin of 10.14% and a negative return on equity of 47.47%. The business's revenue was up 3.4% on a year-over-year basis. During the same period last year, the business earned $1.52 EPS.

Travel + Leisure Trading Up 2.2%

NYSE TNL traded up $1.37 on Friday, reaching $63.07. 1,050,356 shares of the stock were exchanged, compared to its average volume of 744,214. Travel + Leisure has a one year low of $37.77 and a one year high of $63.28. The firm has a market capitalization of $4.09 billion, a PE ratio of 10.20, a PEG ratio of 0.59 and a beta of 1.38. The company's 50-day simple moving average is $52.47 and its two-hundred day simple moving average is $50.56.

Travel + Leisure Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 13th were issued a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.55%. The ex-dividend date of this dividend was Friday, June 13th. Travel + Leisure's payout ratio is 37.40%.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. JMP Securities upped their price target on shares of Travel + Leisure from $60.00 to $70.00 and gave the company a "market outperform" rating in a research report on Thursday. Barclays raised their price objective on shares of Travel + Leisure from $39.00 to $54.00 and gave the stock an "underweight" rating in a report on Thursday. The Goldman Sachs Group reduced their target price on shares of Travel + Leisure from $62.00 to $44.00 and set a "neutral" rating for the company in a research note on Monday, April 14th. Mizuho raised shares of Travel + Leisure from a "neutral" rating to an "outperform" rating and boosted their price target for the stock from $63.00 to $72.00 in a research note on Thursday. Finally, Morgan Stanley dropped their price target on shares of Travel + Leisure from $61.00 to $52.00 and set an "overweight" rating for the company in a research report on Tuesday, April 22nd. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and nine have given a buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $62.27.

Insider Activity at Travel + Leisure

In other Travel + Leisure news, insider Jeffrey Myers sold 110,885 shares of the firm's stock in a transaction that occurred on Thursday, July 24th. The shares were sold at an average price of $62.33, for a total transaction of $6,911,462.05. Following the sale, the insider owned 142,553 shares in the company, valued at approximately $8,885,328.49. This trade represents a 43.75% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Kimberly Marshall sold 16,500 shares of the firm's stock in a transaction that occurred on Wednesday, July 23rd. The stock was sold at an average price of $60.00, for a total transaction of $990,000.00. Following the sale, the insider owned 56,736 shares in the company, valued at approximately $3,404,160. The trade was a 22.53% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 199,020 shares of company stock worth $12,123,076 in the last 90 days. Insiders own 3.75% of the company's stock.

Institutional Investors Weigh In On Travel + Leisure

Institutional investors and hedge funds have recently modified their holdings of the stock. Millennium Management LLC raised its position in shares of Travel + Leisure by 129.5% during the first quarter. Millennium Management LLC now owns 413,505 shares of the company's stock valued at $19,141,000 after buying an additional 233,345 shares during the last quarter. Goldman Sachs Group Inc. raised its position in shares of Travel + Leisure by 97.1% during the first quarter. Goldman Sachs Group Inc. now owns 200,286 shares of the company's stock valued at $9,271,000 after buying an additional 98,647 shares during the last quarter. Royal Bank of Canada raised its position in shares of Travel + Leisure by 42.0% during the first quarter. Royal Bank of Canada now owns 91,184 shares of the company's stock valued at $4,222,000 after buying an additional 26,965 shares during the last quarter. Integrated Wealth Concepts LLC bought a new stake in shares of Travel + Leisure during the first quarter valued at approximately $396,000. Finally, Focus Partners Wealth bought a new stake in shares of Travel + Leisure during the first quarter valued at approximately $225,000. Institutional investors own 87.54% of the company's stock.

About Travel + Leisure

Travel + Leisure Co, together with its subsidiaries, provides hospitality services and travel products in the United States and internationally. The company operates in two segments, Vacation Ownership; and Travel and Membership. The Vacation Ownership segment develops, markets, and sells vacation ownership interests (VOIs) to individual consumers, as well as provides consumer financing in connection with the sale of VOIs; and property management services at resorts.