Travel + Leisure (NYSE:TNL) Releases Quarterly Earnings Results, Meets Estimates

Key Points

• Travel + Leisure met earnings expectations for the quarter, posting EPS of $1.88 versus the consensus estimate of $1.88. Revenue came in at $1.06 billion, slightly above analysts’ $1.04 billion forecast.
• The stock rose 1.1% after the report, with shares opening at $73.35. The company now has a market value of about $4.58 billion and offers a quarterly dividend of $0.60 per share, or $2.40 annually.
• Wall Street remains broadly positive on TNL, with 10 Buy ratings and 1 Hold rating and a consensus price target of $85.90. Recent insider sales and heavy institutional ownership were also noted, with institutions holding 87.54% of the stock.

Travel + Leisure (NYSE:TNL - Get Free Report) announced its earnings results on Wednesday. The company reported $1.88 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $1.88, FiscalAI reports. The firm had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.04 billion. Travel + Leisure had a net margin of 5.85% and a negative return on equity of 48.06%.

Travel + Leisure Stock Up 1.1%

Travel + Leisure stock opened at $73.35 on Wednesday. Travel + Leisure has a 52-week low of $56.66 and a 52-week high of $81.00. The firm has a fifty day moving average of $71.86 and a 200-day moving average of $71.64. The firm has a market capitalization of $4.58 billion, a P/E ratio of 20.60, a PEG ratio of 0.55 and a beta of 1.16.

Travel + Leisure Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Friday, June 12th were paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 3.3%. The ex-dividend date was Friday, June 12th. Travel + Leisure's payout ratio is currently 67.42%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on TNL shares. Wall Street Zen downgraded Travel + Leisure from a "buy" rating to a "hold" rating in a research report on Saturday, April 25th. The Goldman Sachs Group upgraded Travel + Leisure from a "neutral" rating to a "buy" rating and set a $85.00 price target for the company in a report on Monday, June 1st. Weiss Ratings raised shares of Travel + Leisure from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Friday, April 24th. Morgan Stanley increased their price objective on shares of Travel + Leisure from $78.00 to $83.00 and gave the stock an "overweight" rating in a report on Friday, July 17th. Finally, Mizuho decreased their target price on shares of Travel + Leisure from $107.00 to $105.00 and set an "outperform" rating on the stock in a research report on Thursday, April 23rd. Ten investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, Travel + Leisure presently has a consensus rating of "Moderate Buy" and a consensus price target of $85.90.

Insider Buying and Selling at Travel + Leisure

In related news, Director Denny Marie Post sold 2,500 shares of the stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $63.83, for a total value of $159,575.00. Following the completion of the sale, the director directly owned 1,977 shares in the company, valued at approximately $126,191.91. This represents a 55.84% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director George Herrera sold 500 shares of the stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $75.16, for a total value of $37,580.00. Following the completion of the sale, the director owned 1,353 shares of the company's stock, valued at approximately $101,691.48. This represents a 26.98% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 31,000 shares of company stock worth $2,161,915. Insiders own 4.01% of the company's stock.

Institutional Investors Weigh In On Travel + Leisure

Several institutional investors and hedge funds have recently modified their holdings of TNL. Danske Bank A S purchased a new stake in shares of Travel + Leisure during the 3rd quarter valued at about $30,000. Geneos Wealth Management Inc. boosted its holdings in Travel + Leisure by 293.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 959 shares of the company's stock worth $44,000 after acquiring an additional 715 shares during the period. Advisory Services Network LLC acquired a new stake in Travel + Leisure in the third quarter valued at approximately $112,000. EverSource Wealth Advisors LLC raised its stake in shares of Travel + Leisure by 327.6% during the second quarter. EverSource Wealth Advisors LLC now owns 2,741 shares of the company's stock valued at $141,000 after purchasing an additional 2,100 shares during the period. Finally, Kestra Advisory Services LLC acquired a new position in shares of Travel + Leisure during the fourth quarter worth $161,000. Hedge funds and other institutional investors own 87.54% of the company's stock.

About Travel + Leisure

Travel + Leisure Co NYSE: TNL is a leisure travel company headquartered in Orlando, Florida, that specializes in vacation ownership, membership programs and branded travel experiences. The company operates an extensive portfolio of vacation clubs and destination services, offering members access to resorts, hotels, cruises and guided tours in markets around the world. Through its flagship membership brands, Travel + Leisure Co provides curated vacation packages, exchange services and unique travel itineraries that cater to both individual and family travelers.

In addition to its membership offerings, Travel + Leisure Co manages a network of resort properties and hospitality assets across North America, the Caribbean, Europe and Asia-Pacific.

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