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Hyatt Hotels Reaches 52-Week High

Hyatt Hotels Reaches 52-Week High

Shares of Hyatt Hotels Corporation reached a 52-week high of $54.65 on March 18. Share price of the stock has been on an uptrend since it reported strong fourth quarter results on Feb 14. According to Zacks Equity Research, adjusted earnings of 32 cents per share in the fourth quarter of 2013 beat the Zacks Consensus Estimate as well as the year-ago figure of 20 cents by 60 percent owing to strong revenues and lower share count. Average surprise for the last four quarters was 28.94 percent. Quarterly revenues increased 9.1 percent year over year to $1.09 billion and also beat the Zacks Consensus Estimate of $1.08 billion by 0.9 percent. The top-line reflects positive demand trends among both transient and group travelers that led to higher pricing. Read more over at Zacks.

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