Booking (NASDAQ:BKNG) Announces Quarterly Earnings Results

Booking (NASDAQ:BKNG) released its quarterly earnings results on Thursday. The business services provider reported $41.90 EPS for the quarter, beating analysts’ consensus estimates of $39.22 by $2.68, Briefing.com reports. The firm had revenue of $5.86 billion during the quarter, compared to analyst estimates of $5.77 billion. Booking had a net margin of 22.46% and a negative return on equity of 237.46%. The business’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same period in the previous year, the business earned $37.62 EPS.

Booking Stock Down 9.2 %

Booking stock opened at $3,328.13 on Friday. The business has a 50-day simple moving average of $3,872.03 and a two-hundred day simple moving average of $3,689.37. Booking has a 52-week low of $2,733.04 and a 52-week high of $4,144.32. The company has a market cap of $112.92 billion, a P/E ratio of 24.96, a P/E/G ratio of 1.09 and a beta of 1.38.

Booking Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 6th will be given a $8.75 dividend. The ex-dividend date is Friday, September 6th. This represents a $35.00 annualized dividend and a yield of 1.05%. Booking’s payout ratio is 26.25%.

Wall Street Analysts Forecast Growth

BKNG has been the topic of several research analyst reports. Oppenheimer decreased their price objective on shares of Booking from $4,600.00 to $4,200.00 and set an “outperform” rating on the stock in a research report on Friday. Barclays dropped their price objective on shares of Booking from $4,300.00 to $3,900.00 and set an “overweight” rating for the company in a report on Friday. Evercore ISI dropped their price target on Booking from $4,500.00 to $4,200.00 and set an “outperform” rating for the company in a research note on Friday. B. Riley reduced their price objective on Booking from $4,900.00 to $4,650.00 and set a “buy” rating on the stock in a research report on Friday. Finally, JPMorgan Chase & Co. cut their target price on Booking from $4,025.00 to $3,860.00 and set an “overweight” rating for the company in a research note on Friday. Seven investment analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $4,039.73.

Insider Buying and Selling

In related news, insider Paulo Pisano sold 227 shares of the firm’s stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $3,580.75, for a total value of $812,830.25. Following the transaction, the insider now directly owns 4,233 shares of the company’s stock, valued at approximately $15,157,314.75. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, CEO Glenn D. Fogel sold 750 shares of the company’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $4,067.65, for a total value of $3,050,737.50. Following the completion of the transaction, the chief executive officer now owns 24,721 shares of the company’s stock, valued at $100,556,375.65. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Paulo Pisano sold 227 shares of Booking stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $3,580.75, for a total value of $812,830.25. Following the sale, the insider now directly owns 4,233 shares in the company, valued at approximately $15,157,314.75. The disclosure for this sale can be found here. 0.12% of the stock is currently owned by insiders.

Booking Company Profile

Booking Holdings Inc, formerly The Priceline Group Inc, is a provider of travel and restaurant online reservation and related services. The Company, through its online travel companies (OTCs), connects consumers wishing to make travel reservations with providers of travel services across the world. It offers consumers an array of accommodation reservations (including hotels, bed and breakfasts, hostels, apartments, vacation rentals and other properties) through its Booking.com, priceline.com and agoda.com brands.