Playa Hotels & Resorts (NASDAQ:PLYA) Releases Earnings Results, Beats Estimates By $0.08 EPS

Playa Hotels & Resorts (NASDAQ:PLYA – Get Rating) announced its earnings results on Thursday. The company reported $0.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.11 by $0.08, MarketWatch Earnings reports. Playa Hotels & Resorts had a negative net margin of 16.77% and a negative return on equity of 12.44%. The company had revenue of $219.60 million for the quarter, compared to analyst estimates of $196.76 million. During the same period in the prior year, the business earned ($0.31) earnings per share. Playa Hotels & Resorts’s quarterly revenue was up 182.6% on a year-over-year basis.

NASDAQ:PLYA traded up $0.49 during trading hours on Friday, hitting $8.85. The stock had a trading volume of 2,004,430 shares, compared to its average volume of 1,337,945. 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 company has a market cap 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. The business’s 50 day moving average is $8.70 and its 200-day moving average is $8.18.

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

In other Playa Hotels & Resorts news, Director Karl Mr. Peterson sold 30,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 15th. The shares were sold at an average price of $8.52, for a total value of $255,600.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Maria M. Miller bought 5,250 shares of the stock in a transaction on Wednesday, March 2nd. The stock was purchased at an average cost of $9.48 per share, with a total value of $49,770.00. The disclosure for this purchase can be found here. Insiders sold 250,000 shares of company stock valued at $2,105,900 in the last ninety days. Insiders own 6.91% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the company. State Street Corp boosted its holdings in shares of Playa Hotels & Resorts by 13.7% in the fourth quarter. State Street Corp now owns 648,077 shares of the company’s stock valued at $5,172,000 after buying an additional 78,005 shares during the period. Norges Bank acquired a new position in shares of Playa Hotels & Resorts in the fourth quarter valued at approximately $4,146,000. JPMorgan Chase & Co. boosted its holdings in shares of Playa Hotels & Resorts by 21.8% in the fourth quarter. JPMorgan Chase & Co. now owns 357,902 shares of the company’s stock valued at $2,856,000 after buying an additional 63,986 shares during the period. Renaissance Technologies LLC acquired a new position in shares of Playa Hotels & Resorts in the fourth quarter valued at approximately $1,564,000. Finally, Cubist Systematic Strategies LLC boosted its holdings in shares of Playa Hotels & Resorts by 19.4% in the fourth quarter. Cubist Systematic Strategies LLC now owns 133,976 shares of the company’s stock valued at $1,069,000 after buying an additional 21,768 shares during the period. Institutional investors own 80.54% of the company’s stock.

About Playa Hotels & Resorts (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.

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