Playa Hotels & Resorts (NASDAQ:PLYA) Issues Quarterly Earnings Results, Beats Expectations By $0.08 EPS

Playa Hotels & Resorts (NASDAQ:PLYAGet Rating) announced its quarterly earnings results on Thursday. The company reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.08, MarketWatch Earnings reports. The firm had revenue of $219.60 million during the quarter, compared to the consensus estimate of $196.76 million. Playa Hotels & Resorts had a negative return on equity of 12.44% and a negative net margin of 16.77%. The firm’s quarterly revenue was up 182.6% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.31) EPS.

Shares of PLYA stock traded up $0.49 during trading hours on Friday, hitting $8.85. 2,004,430 shares of the company were exchanged, compared to its average volume of 1,337,945. The business’s 50-day simple moving average is $8.70 and its two-hundred day simple moving average is $8.18. Playa Hotels & Resorts has a one year low of $6.13 and a one year high of $9.81. The company has a debt-to-equity ratio of 1.81, a quick ratio of 2.32 and a current ratio of 2.43. The stock has a market capitalization of $1.50 billion, a price-to-earnings ratio of 68.08, a P/E/G ratio of 0.41 and a beta of 1.68.

In other news, Director Karl Mr. Peterson sold 90,000 shares of the business’s stock in a transaction dated Tuesday, March 8th. The shares were sold at an average price of $8.49, for a total transaction of $764,100.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Maria M. Miller acquired 5,250 shares of the company’s stock in a transaction dated Wednesday, March 2nd. The shares were bought at an average price of $9.48 per share, for a total transaction of $49,770.00. The disclosure for this purchase can be found here. In the last 90 days, insiders have sold 250,000 shares of company stock worth $2,105,900. Insiders own 6.91% of the company’s stock.

Several institutional investors have recently modified their holdings of PLYA. Morgan Stanley boosted its position in shares of Playa Hotels & Resorts by 10.3% during the 2nd quarter. Morgan Stanley now owns 7,558,478 shares of the company’s stock valued at $56,160,000 after acquiring an additional 703,469 shares in the last quarter. Janus Henderson Group PLC acquired a new stake in shares of Playa Hotels & Resorts during the 3rd quarter valued at about $97,000. Bank of New York Mellon Corp boosted its position in shares of Playa Hotels & Resorts by 11.9% during the 3rd quarter. Bank of New York Mellon Corp now owns 61,171 shares of the company’s stock valued at $507,000 after acquiring an additional 6,500 shares in the last quarter. Bank of America Corp DE boosted its position in shares of Playa Hotels & Resorts by 27.6% during the 4th quarter. Bank of America Corp DE now owns 24,827 shares of the company’s stock valued at $197,000 after acquiring an additional 5,367 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its position in shares of Playa Hotels & Resorts by 21.8% during the 4th quarter. JPMorgan Chase & Co. now owns 357,902 shares of the company’s stock valued at $2,856,000 after acquiring an additional 63,986 shares in the last quarter. Institutional investors and hedge funds own 80.54% of the company’s stock.

A number of equities analysts have weighed in on PLYA shares. TheStreet raised shares of Playa Hotels & Resorts from a “d+” rating to a “c-” rating in a research report on Monday, February 28th. Zacks Investment Research raised shares of Playa Hotels & Resorts from a “sell” rating to a “hold” rating in a research report on Tuesday, March 29th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Playa Hotels & Resorts from $11.00 to $13.00 and gave the company a “buy” rating in a research report on Monday, February 28th. Finally, Oppenheimer started coverage on shares of Playa Hotels & Resorts in a research report on Thursday, April 21st. They issued an “outperform” rating and a $13.00 price objective for the company. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Playa Hotels & Resorts presently has a consensus rating of “Hold” and an average target price of $10.55.

Playa Hotels & Resorts Company Profile (Get Rating)

Playa Hotels & Resorts N.V., together with its subsidiaries, owns, develops, and operates resorts in prime beachfront locations in Mexico and the Caribbean. As of December 31, 2021, it owned a portfolio of 22 resorts with 8,366 rooms located in Mexico, Jamaica, and the Dominican Republic. The company was founded in 2006 and is headquartered in Fairfax, Virginia.

Further Reading

Earnings History for Playa Hotels & Resorts (NASDAQ:PLYA)

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