Latest news with #TruistSecurities
CTV News
8 hours ago
- Business
- CTV News
Dollar General lifts annual targets on demand for cheaper essentials
The logo for Dollar General appears on a screen above a trading post, on the floor of the New York Stock Exchange, Thursday, July 13, 2023. (AP Photo/Richard Drew) Dollar General raised its annual targets after beating estimates for quarterly profit and sales, in sharp contrast to other retailers cutting financial targets and sounding caution on consumer spending due to tariffs. The company's shares jumped 10 per cent in premarket trading. They have risen about 28 per cent so far during the year as global markets swung between losses and gains in response to President Donald Trump's sweeping tariff policies. Dollar stores have historically stood a better chance to weather out tougher economic conditions as consumers shop for cheaper goods at these outlets to stretch their budgets. Dollar General has also focused on a leaner store count and remodeling existing stores to help improve operations and cut costs at a time when its core lower-income consumer is under some pressure from still-high inflation. 'While traffic declines are a bit concerning and the ticket increase may have been boosted by price increases, we think this is Dollar General's best quarter since the early pandemic,' Truist Securities analyst Scot Ciccarelli said in a note. Dollar General now expects annual same-store sales growth between 1.5 per cent and 2.5 per cent, compared with its prior target of 1.2 per cent to 2.2 per cent. It also raised the low end of its annual earnings per share target by 10 cents to $5.20, keeping the top end unchanged at $5.80. Some portion of the company's private brand products are exposed to tariffs currently in place on countries including China. Dollar General said on Tuesday it expects to mitigate most of the impact to its cost of goods from these levies. The Goodlettsville, Tennessee-based company's same-store sales for the three months ended May 2 grew 2.4 per cent, topping estimates of a 1.41 per cent rise, according to data compiled by LSEG. Its first-quarter earnings per share of $1.78 also handily beat Street expectations of $1.48. Despite the results, Dollar General acknowledged tariff-fueled uncertainty that looms over the rest of the year and consumer spending could be pressured by tariff-related price increases. Rival Dollar Tree DLTR.O, which offloaded the Family Dollar chain earlier this year, reports first-quarter results on Wednesday. (Reporting by Juveria Tabassum in Bengaluru; Editing by Maju Samuel)
Skift
2 days ago
- Business
- Skift
Hyatt Launches Unscripted While IHG Doubles Conversion Signings
The DJIA ended Friday up 54 points while Nasdaq was down 62, the S&P 500 was flat and the 10-year treasury yield was down .01 to around 4.42%. Lodging stocks were mixed. Truist Securities lowered their already Street-low 3Q RevPAR growth forecasts, saying it already looks like it will be a miss versus current consensus expectations. They expect company 2025 RevPAR guides to track to the bottom end of the guidance ranges. For US mid and upper-end hotels, Truist Securities lowered RevPAR expectations to a drop of -0.5 to -2.5% from -2% to +1% previously. For 2Q25, they expect flat to +2% for US mid and upper-end hotels. They now expect limited service to be 300 basis points below this range, down another 100 basis points from their previous expectations. Truist Securities downgraded both Airbnb and Park Hotels and Resorts. ABNB is downgraded to Sell from Hold with a $106 price target, down from $112, while PK is downgraded to Hold from Buy with a price target of $11, down from $16. They also took down price targets on Choice, DiamondRock, Hyatt, Marriott and Ryman. IHG Hotels & Resorts said they have seen a steady increase in conversion activity in recent years, with its total global conversion signings nearly doubling between 2023 and 2024. In the first quarter of 2025 alone, conversions accounted for around 60% of global openings and 40% of global signings for IHG Hotels & Resorts. IHG Hotels & Resorts' soft brands include Vignette Collection (in the luxury and lifestyle segment) and voco hotels (in the premium segment), which enjoyed record opening and signing totals in 2024. Premium brand Ruby will offer additional flexibility for owners interested in conversion and adaptive reuse projects, in addition to new builds, across the urban lifestyle space. In the midscale segment, the Garner hotels brand continues to deliver on its promise of quality and affordability for guests and faster ramp-up times for owners. Following the 2023 opening of its first Americas destination, Vignette Collection's ongoing regional expansion includes recent openings in Lima and San Francisco and signings in Japan, France and Germany. voco hotels aims to reach 200 open or pipeline global properties by 2028, bolstered by late 2024 Americas openings in Atlanta, Georgia; Tucson, Arizona; and Laguna Hills, California. voco hotels' latest global signings include six in Greater China and planned market debuts in Canada, Aruba and Turkiye. Within two years of its August 2023 launch, the midscale conversion brand Garner hotels has surpassed 120 open and pipeline hotels and is positioned to quadruple its worldwide reach in the coming years. Notable recent openings include the 11th Americas Garner hotel in Panama City Beach, Florida, along with global debuts in Germany, Italy and Japan. New signings will also introduce the brand to Canada, Turkiye and beyond. The early 2025 acquisition of premium urban lifestyle brand Ruby, now IHG Hotels & Resorts's 20th global brand, brings more than 30 hotels to the portfolio. IHG Hotels & Resorts expects Ruby to be ready for franchising within the U.S. later this year and anticipates opening more than 120 banded hotels within the next decade, including new signings in Copenhagen, Berlin and Geneva. Sonder Holdings said it received an expected deficiency notification from the Nasdaq Stock Market due to its failure to file a timely Form 10-K annual report. SOND has 60 calendar days to submit a plan to regain compliance. The iconic Waldorf-Astoria Hotel will finally reopen to guests in September, months later than Hilton promised it would, and after four previous delays since the hotel closed in 2017. A Waldorf-Astoria New York spokesperson told The Post, "We expect to open our doors sooner. Our exact opening date is still being determined." The Hotel Monroe is officially open in Monroe, Louisiana. Co-owned by Michael Echols, the property includes nearly 70 guestrooms, multiple restaurants, a rooftop bar and an event ballroom. Embassy Suites by Hilton Orlando Lake Buena Vista Resort is currently undergoing a massive renovation. The resort has 334 suites, multiple dining offerings, over 6,500 square feet of flexible event space, a pool that is both outdoors and indoors, a splash pad, cabanas by the pool, a fitness center, a tennis and pickleball court, a volleyball court, a half-court basketball area and a playground. Phase 1 of the renovations has been completed, and it included new furniture in both the lobby spaces and the restaurant, new pavers around the pool area, and new carpeting in the hallways and conference spaces. The resort is currently in its second phase of renovation and will be completed in October 2025. This part of the renovation is dedicated to the complete overhaul of the rooms. Construction has begun on a new Tru by Hilton hotel in Hagerstown, Maryland. The hotel is expected to open in spring 2026 and will feature 100 guestrooms, a large lobby with workspaces and games, a market and a fitness center. The Tru by Hilton is operated by Bowman Hospitality. A new, nine-story Vanguard Hotel, part of Marriott Bonvoy's Autograph Collection, is now open in Ann Arbor, Michigan. The property features 188 guestrooms, onsite dining, and over 11,000 square feet of meeting and event spaces. Hyatt Hotels Corporation announced Unscripted by Hyatt, the newest brand in its growing Essentials portfolio. Unscripted by Hyatt hotels will bring to life a flexible, collection-style approach where each property reflects its own identity and local flavor yet remains unmistakably Hyatt in quality and care. The Unscripted by Hyatt brand has over 40 hotels globally in active discussions to join the brand. Hyatt's focus on its Essentials portfolio is part of its insights-led evolution to deepen and enrich experiences for guests and owners within five distinct brand portfolios. As Hyatt scales its select service offerings within its Essentials portfolio, it is simultaneously expanding its Lifestyle and Luxury portfolios to grow in more markets, with more members, for more stay occasions. The Lifestyle portfolio added more than 30 new properties and 3,500 rooms between the first quarter of 2024 and the first quarter of 2025, including exciting openings and the acquisition of Standard International's brands. The Standard, The StandardX and Bunkhouse Hotels are generating strong demand from guests, group customers, and owners alike as Hyatt increases its lifestyle offerings. The recent formation of Hyatt's Lifestyle Group, led by Amar Lalvani, President & Creative Director, is focused on enhancing Hyatt's leading position in the lifestyle segment. Hyatt's growing Luxury portfolio invites guests to experience a curated assortment of brands that span cultural immersion, transformational wellbeing, residential modern elegance, and more. With brands like Park Hyatt which combines sophistication with understated luxury, the culturally rich and environmentally conscious Alila, and the compilation of independent, one-of-a-kind luxury hotels in The Unbound Collection by Hyatt, Hyatt's Luxury portfolio continues to see strong, sustained demand from guests and owners alike, At the end of the first quarter of 2025 compared to the same period last year, the number of rooms in the Luxury portfolio has grown by more than 5%. As an extension of Hyatt's luxury growth, Hyatt is also seeing increasing demand for its branded residences. Hyatt's growing branded residential portfolio includes brands like Park Hyatt, Thompson Hotels, Andaz, The Standard, Miraval, and more. With more than 50 branded residential projects open or in its pipeline around the world, Hyatt's rich legacy in luxury enables the company to redefine residential living excellence. Sage Hospitality announced a partnership with CL Hotels. The partnership brings three lifestyle hotels into the Sage Hospitality management portfolio and marks the beginning of a long-term collaboration between the two organizations, each dedicated to creating thoughtful and immersive hospitality experiences in high-demand leisure and urban destinations. Sage Hospitality will oversee all operations at the hotels, with support from Sage Restaurant Concepts, on food and beverage operations. The hotels include: Hotel La Jolla, A Curio Collection Hotel, a 110-room coastal retreat in San Diego. Following a multi-million dollar renovation, the hotel now features refreshed guestrooms, expansive event space, and two distinct dining concepts. The Coachman Hotel is a 104-room boutique hotel in South Lake Tahoe featuring community-focused spaces like an outdoor pool, fire pits, and a café-bar. Located in the heart of Miami Beach, Circa 39 is a vibrant 97-room hotel featuring lush courtyards, a pool, restaurant and beach service. As part of its long-term vision for the property, CL Hotels is undertaking a multi-million dollar renovation and rebranding, with Circa 39 set to join the Vignette Collection by IHG. Swire Properties sold the 2.8-acre site of its once-planned office supertall in Miami's Brickell to the Melo Group for $211.5 million in an all-cash deal, according to The Real Deal. Swire Properties hired CBRE to market the One Brickell City Centre property for sale earlier this year, after officially pulling the plug on the project due to the challenging office market. Swire Properties plans to use proceeds from the sale of the Brickell site for its planned Mandarin Oriental-branded condo and hotel project on nearby Brickell Key, which has more than $1 billion in presales. The long-shuttered Bonneville Hot Springs Resort & Spa, in North Bonneville, Washington, has reopened. New owner Sazzadur Rahman of Fusion Lodgingpaid $12.5 million for the property and $4 million to upgrade the rooms, pool and other parts that had been closed for almost nine years, and has more plans to enhance the property. The property features a new restaurant and bar, coffee shop, full-service spa, indoor pool and hot tub, outdoor hot springs pool and a children's pool. The Stanton House at The Whaler's Inn is opening on June 10, 2025, in Mystic, Connecticut. The expansion introduces 10 luxurious suites and the main floor functions as an event space. Wellington Lifestyle Partners is moving ahead with plans for a mini-downtown within Wellington's horse country. The village planning board has granted first approvals for The Marketplace, which would feature restaurants, shops, an 80-room hotel and 89 luxury condos on 17.8 acres in Wellington, Florida. The Wellington Village Council is scheduled to consider the project June 10. JLL's Hotels & Hospitality Group arranged a $136 million refinancing for the Fairmont Orchid located on Hawaii's Big Island. JLL's Hotels & Hospitality Group worked on behalf of the borrower, Mirae Asset Global Investments Co., Ltd., to secure a five-year, fixed-rate loan through New York Life Real Estate Investors. The Fairmont Orchid boasts 540 keys, oceanfront pool, full-service spa, a fitness center, retail shops, a ten-court tennis facility, seven onsite food and beverage outlets and approximately 108,000 square feet of meeting space. The property owner, Mirae Asset Global Investments Co., Ltd. Is undertaking a multi-year, $110 million renovation project with Phase 1 scheduled for completion this year. Personnel Highlights Hotel Equities, Atlanta, has appointed Juan Corvinos as president of the newly launched Caribbean & Latin America division to further develop the company's third-party management business in the region. HE CALA is launching with two dedicated verticals: an All-Inclusive Resorts and Urban and Lifestyle Hotels. HE's CALA portfolio is currently comprised of nine properties and nearly 1,000 hotel rooms under development in the region, including locations in Curacao, Dominica, Grenada, Mexico, St. Thomas and Trinidad & Tobago. Corvinos most recently served as senior vice president of Development, Architecture, Design & Construction for Latin America for Hilton. Majestic Hospitality named David Kuperberg managing director of real estate. In his new role, Kuperberg will bring a strategic and hands-on approach to working with hotel developers and owners. Kuperberg joins Majestic Hospitality from Hyatt, where he played a key role in the growth and success of the Dream portfolio after Hyatt's acquisition of Dream Hotel Group.
Yahoo
4 days ago
- Business
- Yahoo
Truist Increased the Price Target for e.l.f. Beauty, Inc. (ELF)
Truist Securities reiterated its Buy rating on e.l.f. Beauty, Inc. (NYSE:ELF) shares, raising its price objective from $75 to $125. A close up of the lip and eye products from the company on a model in a fashion and beauty shoot. The revision comes after the company's improved financial outlook and solid Q4 earnings performance. After revising its FY26 projections, Truist now forecasts $1.575 billion in sales and $332 million in EBITDA, up from the earlier projections of $1.466 billion and $327 million. Furthermore, the firm's confidence in e.l.f. Beauty, Inc. (NYSE:ELF)'s sustained development trajectory was reflected in the raised FY27 expectations. After Q4 earnings above market projections, the latest estimates indicate an upward revision in long-term expectations. Recently, e.l.f. Beauty, Inc. (NYSE:ELF) strengthened its portfolio by paying $1 billion to purchase Rhode, a celebrity beauty brand. The company has generated strong sentiment due to its industry-leading gross margins of 71.24%, $6.30 billion market capitalization, and 28.28% revenue growth over the last 12 months. Targets have also been raised by other firms, such as TD Cowen, Jefferies, Morgan Stanley, and Piper Sandler, with values ranging from $105 to $130. Analysts view e.l.f. Beauty, Inc. (NYSE:ELF)'s tactical moves and fundamentals as drivers for further rise, notwithstanding the macro uncertainty of the near future. While we acknowledge the potential of ELF to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than ELF and that has 100x upside potential, check out our report about this READ NEXT: and . Disclosure. None.
Yahoo
4 days ago
- Business
- Yahoo
Airbnb shares dip as Truist cuts stock to Sell on weak summer trends, valuation
-- Shares in Airbnb Inc (NASDAQ:ABNB) fell roughly 2% at market open Friday after Truist Securities downgraded the stock to Sell from Hold due to soft summer leisure trends and concerns over valuation. The brokerage also cut its price target to $106 from $112, warning that both U.S. and European demand appear weaker than investors currently anticipate. 'We believe soft summer leisure trends, both for the U.S. and Europe (difficult y/y comp in Europe due to last summer's events) are not being fully anticipated by analysts and investors,' Truist analysts led by C. Patrick Scholes said in a note. They also flagged valuation as a headwind, noting they 'do not believe the premium valuation multiple vs. other not too dissimilar asset-lite hospitality companies such as Hilton (NYSE:HLT) is fully deserved.' Truist's downgrade is part of a broader recalibration of expectations across the lodging sector, as analysts lower their 2025 Revenue per Available Room (RevPAR) forecasts. The broker sees third-quarter RevPAR down 3% to 1% for U.S. mid and upper-end hotels, below consensus estimates of flat growth. Limited service hotels are expected to perform worse, with RevPAR seen falling between 4% and 2%. The analysts cite a combination of weaker consumer and business confidence, cuts in government travel, and reduced inbound international demand as key factors behind the softer booking trends. While the softness isn't considered severe, Truist said RevPAR is tracking roughly 150 basis points below current Street expectations for the third quarter. 'To be clear, the softness we observe is not anywhere near the demand collapse like what occurred during Covid nor is it GFC-esque but rather RevPAR growth for 3Q and into 4Q simply looks 'soft' to the tune of approx. 150 bps. below current Street expectations,' the analysts explained. Park Hotels & Resorts (NYSE:PK) was also downgraded to Hold from Buy, due to its high leisure exposure—especially in Hawaii—and elevated leverage. Truist said tourism expectations in Hawaii have deteriorated, with the University of Hawaii Economic Research Organization noting that weakness is 'primarily due to actual and threatened U.S. tariff hikes that are much larger than anticipated, as well as adverse effects on increased federal policy uncertainty around trade, immigration, spending and tax cuts.' Despite a stable trend in average daily rates (ADR), Truist warned that the industry's historical tendency to cut prices to stimulate demand during periods of weakness could return if softness continues. Related articles Airbnb shares dip as Truist cuts stock to Sell on weak summer trends, valuation AGCO downgraded as Citi says risk/reward now more balanced Sanofi, Regeneron shares nosedive after mixed Itepekimab results Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
5 days ago
- Business
- Yahoo
Truist Increased the Price Target for e.l.f. Beauty, Inc. (ELF)
Truist Securities reiterated its Buy rating on e.l.f. Beauty, Inc. (NYSE:ELF) shares, raising its price objective from $75 to $125. A close up of the lip and eye products from the company on a model in a fashion and beauty shoot. The revision comes after the company's improved financial outlook and solid Q4 earnings performance. After revising its FY26 projections, Truist now forecasts $1.575 billion in sales and $332 million in EBITDA, up from the earlier projections of $1.466 billion and $327 million. Furthermore, the firm's confidence in e.l.f. Beauty, Inc. (NYSE:ELF)'s sustained development trajectory was reflected in the raised FY27 expectations. After Q4 earnings above market projections, the latest estimates indicate an upward revision in long-term expectations. Recently, e.l.f. Beauty, Inc. (NYSE:ELF) strengthened its portfolio by paying $1 billion to purchase Rhode, a celebrity beauty brand. The company has generated strong sentiment due to its industry-leading gross margins of 71.24%, $6.30 billion market capitalization, and 28.28% revenue growth over the last 12 months. Targets have also been raised by other firms, such as TD Cowen, Jefferies, Morgan Stanley, and Piper Sandler, with values ranging from $105 to $130. Analysts view e.l.f. Beauty, Inc. (NYSE:ELF)'s tactical moves and fundamentals as drivers for further rise, notwithstanding the macro uncertainty of the near future. While we acknowledge the potential of ELF to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than ELF and that has 100x upside potential, check out our report about this READ NEXT: and . Disclosure. None.
