Zacks Investment Research upgraded shares of Sabre (NASDAQ:SABR) from a hold rating to a buy rating in a research report sent to investors on Tuesday. Zacks Investment Research currently has $23.00 price target on the information technology services provider’s stock.
According to Zacks, “Sabre Corporation engages in providing technology solutions to the global travel and tourism industry. The company operates four brands/businesses: Sabre Airline Solutions (R), Sabre Hospitality Solutions (R), Sabre Travel Network (R) and Travelocity (R). Its software, data, mobile and distribution solutions are used by airlines hotel properties to manage critical operations, such as passenger and guest reservations, revenue management, and flight, network and crew management. Sabre Corporation is headquartered in Southlake, Texas. “
A number of other research firms have also recently issued reports on SABR. Evercore ISI cut shares of Sabre from an outperform rating to an underperform rating in a research report on Friday, January 5th. Oppenheimer restated a buy rating and issued a $24.00 price objective on shares of Sabre in a research report on Wednesday, November 1st. Cowen set a $23.00 price objective on shares of Sabre and gave the company a buy rating in a research report on Thursday, October 12th. TheStreet upgraded shares of Sabre from a c rating to a b- rating in a research report on Monday, November 27th. Finally, Deutsche Bank restated a buy rating and issued a $22.00 price objective (down previously from $25.00) on shares of Sabre in a research report on Monday, October 9th. Three research analysts have rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the company’s stock. The company currently has an average rating of Hold and an average price target of $22.67.
Sabre (NASDAQ:SABR) last issued its earnings results on Tuesday, October 31st. The information technology services provider reported $0.31 EPS for the quarter, topping analysts’ consensus estimates of $0.24 by $0.07. The company had revenue of $900.60 million for the quarter, compared to analysts’ expectations of $884.04 million. Sabre had a net margin of 5.22% and a return on equity of 53.97%. The firm’s revenue was up 7.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.27 EPS. equities research analysts predict that Sabre will post 1.22 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, December 29th. Shareholders of record on Thursday, December 21st were given a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.74%. The ex-dividend date of this dividend was Wednesday, December 20th. Sabre’s payout ratio is 81.16%.
Several hedge funds have recently added to or reduced their stakes in SABR. FIL Ltd increased its position in shares of Sabre by 433.5% during the second quarter. FIL Ltd now owns 10,918,750 shares of the information technology services provider’s stock valued at $237,701,000 after buying an additional 8,872,029 shares during the period. BlackRock Inc. increased its position in shares of Sabre by 51.4% during the second quarter. BlackRock Inc. now owns 23,326,117 shares of the information technology services provider’s stock valued at $507,810,000 after buying an additional 7,919,869 shares during the period. State Street Corp increased its position in shares of Sabre by 72.5% during the second quarter. State Street Corp now owns 6,514,500 shares of the information technology services provider’s stock valued at $141,819,000 after buying an additional 2,738,529 shares during the period. Epoch Investment Partners Inc. increased its position in shares of Sabre by 133.6% during the second quarter. Epoch Investment Partners Inc. now owns 3,069,058 shares of the information technology services provider’s stock valued at $66,813,000 after buying an additional 1,754,999 shares during the period. Finally, Burgundy Asset Management Ltd. increased its position in shares of Sabre by 14.3% during the third quarter. Burgundy Asset Management Ltd. now owns 10,806,431 shares of the information technology services provider’s stock valued at $195,596,000 after buying an additional 1,354,184 shares during the period.
Sabre Company Profile
Sabre Corporation is a technology solutions provider to the global travel and tourism industry. The Company provides software and services to a range of travel suppliers and travel buyers. The Company operates through two business segments: Travel Network, and Airline and Hospitality Solutions. Travel Network is its global business-to-business travel marketplace and consists primarily of its global distribution system (GDS) and a set of solutions that integrate with its GDS to serve travel suppliers and travel buyers.
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