Sabre Corporation (NASDAQ:SABR)’s share price hit a new 52-week low during trading on Tuesday following a dissappointing earnings announcement. The stock traded as low as $21.76 and last traded at $21.80, with a volume of 18,089,240 shares changing hands. The stock had previously closed at $24.81.
The company reported $0.27 earnings per share for the quarter, missing analysts’ consensus estimates of $0.31 by $0.04. The firm earned $829.60 million during the quarter, compared to analyst estimates of $828.45 million. Sabre Corporation had a net margin of 10.52% and a return on equity of 44.83%. The business’s quarterly revenue was up 9.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.27 EPS.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 30th. Stockholders of record on Tuesday, March 21st will be given a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.57%. The ex-dividend date of this dividend is Friday, March 17th. This is a positive change from Sabre Corporation’s previous quarterly dividend of $0.13. Sabre Corporation’s payout ratio is currently 42.62%.
A number of equities analysts have recently weighed in on the stock. Goldman Sachs Group, Inc. (The) reissued a “buy” rating on shares of Sabre Corporation in a research report on Wednesday, October 19th. Zacks Investment Research lowered shares of Sabre Corporation from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 5th. Mizuho dropped their price target on shares of Sabre Corporation from $32.00 to $30.00 and set a “buy” rating for the company in a research report on Thursday, November 3rd. William Blair reaffirmed an “outperform” rating on shares of Sabre Corporation in a research report on Wednesday, November 2nd. Finally, Morgan Stanley dropped their price target on shares of Sabre Corporation from $33.00 to $26.00 and set an “overweight” rating for the company in a research report on Wednesday. Fourteen equities research analysts have rated the stock with a buy rating, Sabre Corporation currently has an average rating of “Buy” and a consensus target price of $31.60.
In other news, CEO Thomas Klein sold 150,000 shares of the company’s stock in a transaction on Wednesday, November 30th. The shares were sold at an average price of $25.97, for a total value of $3,895,500.00. Following the completion of the transaction, the chief executive officer now directly owns 513,018 shares in the company, valued at $13,323,077.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Alexander S. Alt sold 6,250 shares of the company’s stock in a transaction on Tuesday, November 15th. The shares were sold at an average price of $24.83, for a total transaction of $155,187.50. Following the completion of the transaction, the insider now owns 32,493 shares of the company’s stock, valued at $806,801.19. The disclosure for this sale can be found here. Insiders sold 326,466 shares of company stock valued at $8,385,204 in the last three months. Company insiders own 1.80% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Capital World Investors increased its position in shares of Sabre Corporation by 2,000.4% in the third quarter. Capital World Investors now owns 19,383,234 shares of the company’s stock valued at $546,220,000 after buying an additional 18,460,386 shares during the period. Burgundy Asset Management Ltd. increased its position in shares of Sabre Corporation by 21.9% in the second quarter. Burgundy Asset Management Ltd. now owns 5,861,224 shares of the company’s stock valued at $157,022,000 after buying an additional 1,053,285 shares during the period. BlackRock Institutional Trust Company N.A. increased its position in shares of Sabre Corporation by 0.9% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 5,332,994 shares of the company’s stock valued at $150,284,000 after buying an additional 45,377 shares during the period. Vulcan Value Partners LLC purchased a new position in shares of Sabre Corporation during the second quarter valued at $131,419,000. Finally, King Luther Capital Management Corp increased its position in shares of Sabre Corporation by 0.9% in the third quarter. King Luther Capital Management Corp now owns 4,309,257 shares of the company’s stock valued at $121,435,000 after buying an additional 39,387 shares during the period.
The firm’s 50-day moving average is $24.64 and its 200 day moving average is $26.20. The stock has a market capitalization of $6.11 billion, a price-to-earnings ratio of 17.80 and a beta of 0.85.
About Sabre Corporation
Sabre Corporation is a technology solutions provider to the global travel and tourism industry. The Company’s software, data, mobile and distribution solutions are used by hundreds of airlines and thousands of hotel properties to manage critical operations, including passenger and guest reservations, revenue management, flight, network and crew management.