Travel + Leisure Co. (NYSE:TNL) Increases Dividend to $0.56 Per Share

Travel + Leisure Co. (NYSE:TNL - Get Free Report) announced a quarterly dividend on Thursday, March 6th, Wall Street Journal reports. Shareholders of record on Monday, March 17th will be given a dividend of 0.56 per share on Monday, March 31st. This represents a $2.24 annualized dividend and a dividend yield of 4.18%. The ex-dividend date is Monday, March 17th. This is a 12.0% increase from Travel + Leisure's previous quarterly dividend of $0.50.

Travel + Leisure has raised its dividend payment by an average of 26.0% per year over the last three years. Travel + Leisure has a dividend payout ratio of 27.2% meaning its dividend is sufficiently covered by earnings. Analysts expect Travel + Leisure to earn $7.93 per share next year, which means the company should continue to be able to cover its $2.00 annual dividend with an expected future payout ratio of 25.2%.

Travel + Leisure Price Performance

Shares of NYSE:TNL traded up $0.12 on Friday, hitting $53.61. The company's stock had a trading volume of 731,494 shares, compared to its average volume of 570,794. The company has a 50-day simple moving average of $53.86 and a 200 day simple moving average of $50.50. Travel + Leisure has a 1 year low of $39.91 and a 1 year high of $58.95. The company has a market capitalization of $3.58 billion, a PE ratio of 9.18, a PEG ratio of 0.67 and a beta of 1.61.

Travel + Leisure (NYSE:TNL - Get Free Report) last released its quarterly earnings results on Wednesday, February 19th. The company reported $1.72 earnings per share for the quarter, beating the consensus estimate of $1.68 by $0.04. Travel + Leisure had a negative return on equity of 45.75% and a net margin of 10.63%. The firm had revenue of $971.00 million for the quarter, compared to analysts' expectations of $958.87 million. During the same quarter last year, the firm posted $1.98 EPS. The company's revenue was up 3.9% compared to the same quarter last year. On average, equities research analysts expect that Travel + Leisure will post 6.46 earnings per share for the current fiscal year.

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Analyst Upgrades and Downgrades

Several equities analysts have recently commented on TNL shares. Bank of America upgraded Travel + Leisure from an "underperform" rating to a "buy" rating and increased their price objective for the company from $40.00 to $60.00 in a research report on Monday, January 27th. The Goldman Sachs Group increased their price objective on Travel + Leisure from $49.00 to $59.00 and gave the company a "neutral" rating in a research report on Tuesday, December 10th. Tigress Financial increased their price objective on Travel + Leisure from $64.00 to $70.00 and gave the company a "buy" rating in a research report on Thursday. Mizuho reiterated a "neutral" rating and set a $64.00 price objective (up from $55.00) on shares of Travel + Leisure in a research report on Thursday, February 20th. Finally, Morgan Stanley started coverage on Travel + Leisure in a research report on Monday, January 6th. They set an "overweight" rating and a $67.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating to the company. According to MarketBeat, Travel + Leisure has an average rating of "Moderate Buy" and a consensus price target of $63.70.

Travel + Leisure Company Profile

Travel + Leisure Co, together with its subsidiaries, provides hospitality services and travel products in the United States and internationally. The company operates in two segments, Vacation Ownership; and Travel and Membership. The Vacation Ownership segment develops, markets, and sells vacation ownership interests (VOIs) to individual consumers, as well as provides consumer financing in connection with the sale of VOIs; and property management services at resorts.