Wells Fargo Sticks to Its Hold Rating for Hyatt Hotels (H)
In a report released yesterday, Dori Kesten from Wells Fargo maintained a Hold rating on Hyatt Hotels (H). The company’s shares closed last Tuesday at $56.73.
According to TipRanks.com, Kesten is a 3-star analyst with an average return of 9.4% and a 68.8% success rate. Kesten covers the Financial sector, focusing on stocks such as Xenia Hotels & Resorts, Park Hotels & Resorts, and Diamondrock.
The word on The Street in general, suggests a Hold analyst consensus rating for Hyatt Hotels with a $51.00 average price target.
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Based on Hyatt Hotels’ latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $250 million and GAAP net loss of $236 million. In comparison, last year the company earned revenue of $1.29 billion and had a net profit of $86 million.
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Hyatt Hotels Corp. engages in the development and management of resort and hotel chains. It operates through the following segments: Owned and Leased Hotels; Americas Management and Franchising; ASPAC Management and Franchising; and EAME/SW Asia management and Franchising. The Owned and Leased Hotels segment offers hospitality services and hotels. The Americas Management and Franchising segment consists of properties located in the United States, Latin America, Canada, and the Caribbean. The ASPAC Management and Franchising segment includes of its management and franchising of properties located in Southeast Asia, Greater China, Australia, South Korea, Japan and Micronesia. The EAME/SW Asia Management segment comprises of its management and franchising of properties located primarily in Europe, Africa, the Middle East, India, Central Asia, and Nepal. The company was founded by Thomas Jay Pritzker in 1957 and is headquartered in Chicago, IL.