Travel + Leisure Co. to offer $0.45 quarterly dividend.

Orson Park August 12, 2023 Travel

Travel + Leisure Co. Announces Quarterly Dividend

Travel + Leisure Co. (NYSE:TNL – Get Free Report) announced a quarterly dividend on Wednesday, August 9th, according to Zacks. Shareholders of record on Friday, September 15th will receive a dividend of $0.45 per share on Friday, September 29th. This represents an annualized dividend of $1.80 and a yield of 4.37%. The ex-dividend date is Thursday, September 14th.

Travel + Leisure Stock Declines 1.1%

Shares of Travel + Leisure stock opened at $41.20 on Friday. The stock has a twelve month low of $33.57 and a twelve month high of $48.12. The business’s fifty day moving average price is $40.79 and its 200 day moving average price is $39.83. The stock has a market capitalization of $3.05 billion, a P/E ratio of 9.02, a PEG ratio of 0.53 and a beta of 1.67.

Travel + Leisure last reported its quarterly earnings results on Wednesday, July 26th. The company posted $1.33 EPS for the quarter, beating analysts’ consensus estimates of $1.32 by $0.01. Travel + Leisure had a negative return on equity of 40.25% and a net margin of 9.93%. The firm had revenue of $949.00 million during the quarter, compared to the consensus estimate of $952.77 million. During the same quarter in the prior year, the business posted $1.27 earnings per share. Travel + Leisure’s revenue for the quarter was up 2.9% on a year-over-year basis. Analysts predict that Travel + Leisure will post 5.31 EPS for the current year.

Wall Street Analysts Forecast Growth

TNL has been the subject of several recent analyst reports. TheStreet raised Travel + Leisure from a “c” rating to a “b-” rating in a research report on Wednesday, July 26th. Barclays cut their price objective on Travel + Leisure from $44.00 to $43.00 and set an “equal weight” rating for the company in a report on Thursday, July 27th. Bank of America assumed coverage on Travel + Leisure in a report on Monday, April 17th. They set an “underperform” rating and a $42.00 price objective for the company. Truist Financial cut their target price on Travel + Leisure from $67.00 to $66.00 in a report on Friday. Finally, Deutsche Bank Aktiengesellschaft cut their target price on Travel + Leisure from $69.00 to $62.00 in a report on Thursday, April 27th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $49.67.

Insider Activity

In other Travel + Leisure news, CAO Thomas Michael Duncan sold 3,000 shares of the stock in a transaction dated Tuesday, June 6th. The shares were sold at an average price of $40.92, for a total value of $122,760.00. Following the transaction, the chief accounting officer now directly owns 17,271 shares of the company’s stock, valued at approximately $706,729.32. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 2.07% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Osaic Holdings Inc. increased its stake in Travel + Leisure by 4.3% in the second quarter. Osaic Holdings Inc. now owns 20,757 shares of the company’s stock valued at $763,000 after acquiring an additional 853 shares during the last quarter. Putnam Investments LLC bought a new position in Travel + Leisure in the first quarter valued at approximately $245,000. Thrivent Financial for Lutherans grew its stake in shares of Travel + Leisure by 63.2% during the first quarter. Thrivent Financial for Lutherans now owns 179,884 shares of the company’s stock worth $7,051,000 after buying an additional 69,686 shares during the last quarter. Mercer Global Advisors Inc. ADV grew its stake in shares of Travel + Leisure by 12.9% during the first quarter. Mercer Global Advisors Inc. ADV now owns 12,359 shares of the company’s stock worth $484,000 after buying an additional 1,415 shares during the last quarter. Finally, Hancock Whitney Corp grew its stake in shares of Travel + Leisure by 1.0% during the first quarter. Hancock Whitney Corp now owns 50,556 shares of the company’s stock worth $1,982,000 after buying an additional 514 shares during the last quarter. 87.29% of the stock is owned by institutional investors.

Travel + Leisure Company Profile

Travel + Leisure Co, together with its subsidiaries, provides hospitality services and 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.