Hyatt Hotels (NYSE:H) announced that its board has initiated a share repurchase plan, which authorizes the company to repurchase $750.00 million in shares on Thursday, December 14th, EventVestor reports. This repurchase authorization authorizes the company to repurchase shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board believes its shares are undervalued.
Hyatt Hotels (NYSE H) opened at $71.67 on Wednesday. Hyatt Hotels has a 12-month low of $50.21 and a 12-month high of $73.33. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.04 and a current ratio of 1.06. The company has a market cap of $8,467.70, a price-to-earnings ratio of 39.57, a PEG ratio of 10.13 and a beta of 1.25.
Hyatt Hotels (NYSE:H) last posted its earnings results on Thursday, November 2nd. The company reported $0.26 EPS for the quarter, topping analysts’ consensus estimates of $0.17 by $0.09. The business had revenue of $1.12 billion for the quarter, compared to analysts’ expectations of $1.09 billion. Hyatt Hotels had a net margin of 4.66% and a return on equity of 6.13%. During the same period in the previous year, the company posted $0.47 earnings per share. research analysts anticipate that Hyatt Hotels will post 1.73 EPS for the current year.
In other Hyatt Hotels news, insider Stephen G. Haggerty sold 46,869 shares of the stock in a transaction on Monday, October 16th. The shares were sold at an average price of $61.77, for a total transaction of $2,895,098.13. Following the sale, the insider now directly owns 32,125 shares of the company’s stock, valued at $1,984,361.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Rena Hozore Reiss sold 4,000 shares of the stock in a transaction on Monday, September 25th. The stock was sold at an average price of $61.43, for a total transaction of $245,720.00. Following the sale, the insider now directly owns 30,881 shares in the company, valued at $1,897,019.83. The disclosure for this sale can be found here. Insiders sold 1,000,001 shares of company stock worth $68,120,268 over the last ninety days. 27.51% of the stock is currently owned by corporate insiders.
About Hyatt Hotels
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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