Booking (NASDAQ:BKNG) Earns Neutral Rating from Analysts at Cantor Fitzgerald

Cantor Fitzgerald assumed coverage on shares of Booking (NASDAQ:BKNG) in a research report report published on Thursday morning, Marketbeat reports. The firm issued a neutral rating and a $3,590.00 target price on the business services provider’s stock. Cantor Fitzgerald also issued estimates for Booking’s FY2024 earnings at $180.03 EPS.

BKNG has been the subject of several other reports. JPMorgan Chase & Co. reduced their price target on Booking from $4,025.00 to $3,860.00 and set an overweight rating for the company in a research report on Friday, August 2nd. Barclays cut their price objective on Booking from $4,300.00 to $3,900.00 and set an overweight rating for the company in a report on Friday, August 2nd. Erste Group Bank upgraded shares of Booking from a hold rating to a buy rating in a report on Friday, June 14th. Evercore ISI dropped their price target on shares of Booking from $4,500.00 to $4,200.00 and set an outperform rating on the stock in a research report on Friday, August 2nd. Finally, Jefferies Financial Group downgraded shares of Booking from a buy rating to a hold rating and decreased their price objective for the company from $4,350.00 to $4,200.00 in a research report on Wednesday. Eleven investment analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of Moderate Buy and an average price target of $4,064.21.

Booking Stock Down 1.1 %

NASDAQ BKNG opened at $3,731.35 on Thursday. The firm’s 50 day moving average is $3,773.69 and its 200-day moving average is $3,699.80. The company has a market capitalization of $126.60 billion, a PE ratio of 27.98, a price-to-earnings-growth ratio of 1.19 and a beta of 1.40. Booking has a 12-month low of $2,733.04 and a 12-month high of $4,144.32.

Booking (NASDAQ:BKNG) last issued its quarterly earnings results on Thursday, August 1st. The business services provider reported $41.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $39.22 by $2.68. Booking had a net margin of 22.46% and a negative return on equity of 200.87%. The firm had revenue of $5.86 billion for the quarter, compared to analyst estimates of $5.77 billion. During the same period in the previous year, the business earned $37.62 EPS. The company’s revenue was up 7.3% compared to the same quarter last year. As a group, sell-side analysts expect that Booking will post 177.09 EPS for the current year.

Booking Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 6th will be issued a $8.75 dividend. This represents a $35.00 dividend on an annualized basis and a yield of 0.94%. The ex-dividend date of this dividend is Friday, September 6th. Booking’s dividend payout ratio is currently 26.25%.

Insider Transactions at Booking

In other Booking news, insider Paulo Pisano sold 100 shares of the firm’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $3,887.61, for a total transaction of $388,761.00. Following the transaction, the insider now owns 3,787 shares in the company, valued at approximately $14,722,379.07. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other Booking news, insider Paulo Pisano sold 100 shares of the stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $3,887.61, for a total transaction of $388,761.00. Following the sale, the insider now directly owns 3,787 shares in the company, valued at $14,722,379.07. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Glenn D. Fogel sold 750 shares of the business’s stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $4,067.65, for a total transaction 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 disclosure for this sale can be found here. Insiders own 0.12% of the company’s stock.

Institutional Investors Weigh In On Booking

A number of large investors have recently modified their holdings of the business. ICA Group Wealth Management LLC acquired a new stake in Booking in the fourth quarter valued at about $25,000. Grove Bank & Trust boosted its stake in shares of Booking by 133.3% in the 2nd quarter. Grove Bank & Trust now owns 7 shares of the business services provider’s stock valued at $28,000 after purchasing an additional 4 shares in the last quarter. POM Investment Strategies LLC bought a new stake in shares of Booking during the 2nd quarter valued at approximately $28,000. Kings Path Partners LLC acquired a new position in Booking during the 2nd quarter worth approximately $28,000. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new position in Booking in the 2nd quarter valued at approximately $32,000. Institutional investors and hedge funds own 92.42% of the company’s stock.

About Booking

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.