Belmond Ltd. (NYSE:BEL) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Tuesday.
According to Zacks, “Belmond is a global collection of exceptional hotel and luxury travel adventures in some of the world’s most inspiring and enriching destinations. Established almost 40 years ago with the acquisition of Belmond Hotel Cipriani in Venice, the Company owns and operates unique and distinctive hotel, rail and river cruise experiences in many of the world’s most celebrated destinations. From city landmarks to intimate resorts, the collection includes Belmond Grand Hotel Europe, St. Petersburg; Belmond Copacabana Palace, Rio de Janeiro; Belmond Maroma Resort & Spa, Riviera Maya; and Belmond El Encanto, Santa Barbara. Belmond also encompasses safaris, six luxury tourist trains including the Venice Simplon-Orient-Express, three river cruises and ’21’, one of New York’s most storied restaurants. “
Several other research firms have also recently issued reports on BEL. Deutsche Bank AG reissued a “buy” rating on shares of Belmond in a report on Sunday, June 26th. Barclays PLC restated a “buy” rating and set a $13.00 target price on shares of Belmond in a research report on Thursday, August 11th. MKM Partners upgraded shares of Belmond from a “sell” rating to a “neutral” rating and upped their target price for the stock from $9.50 to $12.00 in a research report on Thursday, August 4th. < Finally, Telsey Advisory Group upped their target price on shares of Belmond from $10.00 to $11.00 and gave the stock a "market perform" rating in a research report on Friday, August 5th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company has a consensus rating of "Buy" and a consensus target price of C$12.67.
Shares of Belmond (NYSE:BEL) opened at 12.29 on Tuesday. The stock’s 50 day moving average is $11.88 and its 200 day moving average is $10.47. Belmond has a 52-week low of $7.31 and a 52-week high of $12.86. The stock has a market cap of $1.25 billion, a price-to-earnings ratio of 73.59 and a beta of 1.51.
Belmond (NYSE:BEL) last posted its quarterly earnings results on Wednesday, August 3rd. The company reported $0.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by $0.01. The firm had revenue of $158.10 million for the quarter, compared to analysts’ expectations of $163.25 million. Belmond had a return on equity of 2.70% and a net margin of 3.09%. On average, equities analysts expect that Belmond will post $0.25 earnings per share for the current fiscal year.
Hedge funds have recently added to or reduced their stakes in the stock. Price Michael F raised its stake in Belmond by 43.8% in the first quarter. Price Michael F now owns 230,000 shares of the company’s stock valued at $2,183,000 after buying an additional 70,000 shares in the last quarter. Pacad Investment Ltd. acquired a new stake in Belmond during the first quarter valued at approximately $203,000. Emerald Acquisition Ltd. acquired a new stake in Belmond during the second quarter valued at approximately $6,794,000. Texas Permanent School Fund acquired a new stake in Belmond during the first quarter valued at approximately $663,000. Finally, Prudential Financial Inc. raised its stake in Belmond by 452.3% in the first quarter. Prudential Financial Inc. now owns 264,974 shares of the company’s stock valued at $2,515,000 after buying an additional 217,000 shares in the last quarter. Institutional investors and hedge funds own 76.78% of the company’s stock.
Belmond Ltd. (Belmond), formerly Orient-Express Hotels Ltd. is a luxury hotel company and adventure travel operator. The Company owns, partially-owns and/or operates over 40 properties consisting of approximately 30 individual deluxe hotels, over one stand-alone restaurant, approximately six tourist trains and over three river/canal cruise businesses.