Booking (NASDAQ:BKNG) PT Lowered to $3,750.00

Booking (NASDAQ:BKNG) had its price target lowered by Bank of America from $3,950.00 to $3,750.00 in a research note published on Friday, Benzinga reports. The firm currently has a neutral rating on the business services provider’s stock.

A number of other research analysts have also recently commented on the company. B. Riley decreased their price target on Booking from $4,900.00 to $4,650.00 and set a buy rating on the stock in a research note on Friday. HSBC raised their target price on Booking from $4,220.00 to $4,230.00 and gave the company a buy rating in a report on Tuesday, May 7th. Wedbush boosted their price target on shares of Booking from $3,850.00 to $4,200.00 and gave the stock an outperform rating in a research note on Wednesday. Evercore ISI reduced 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. Finally, Argus lifted their price objective on shares of Booking from $4,200.00 to $4,342.00 and gave the company a buy rating in a report on Tuesday, June 4th. Seven research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus price target of $4,039.73.

Booking Stock Down 9.2 %

Shares of Booking stock opened at $3,328.13 on Friday. The firm has a market cap of $112.92 billion, a PE ratio of 24.96, a price-to-earnings-growth ratio of 1.09 and a beta of 1.38. Booking has a 52 week low of $2,733.04 and a 52 week high of $4,144.32. The business’s fifty day simple moving average is $3,872.03 and its 200-day simple moving average is $3,689.37.

Booking (NASDAQ:BKNG) last announced its earnings results on Thursday, August 1st. The business services provider reported $41.90 earnings per share for the quarter, topping the consensus estimate of $39.22 by $2.68. The company 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%. Booking’s revenue was up 7.3% compared to the same quarter last year. During the same quarter last year, the firm posted $37.62 earnings per share. As a group, equities analysts expect that Booking will post 178.9 earnings per share for the current year.

Booking Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors 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 dividend payout ratio (DPR) is 26.25%.

Insiders Place Their Bets

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

Institutional Trading of Booking

Institutional investors have recently modified their holdings of the business. Norges Bank purchased a new stake in shares of Booking during the 4th quarter worth $1,742,160,000. Global Assets Advisory LLC acquired a new position in Booking during the first quarter worth about $401,371,000. International Assets Investment Management LLC purchased a new position in Booking in the fourth quarter valued at about $3,774,850,000. BlueSpruce Investments LP acquired a new stake in shares of Booking during the 4th quarter valued at approximately $220,080,000. Finally, Bessemer Group Inc. boosted its stake in shares of Booking by 4,565.4% during the 1st quarter. Bessemer Group Inc. now owns 62,610 shares of the business services provider’s stock worth $227,143,000 after acquiring an additional 61,268 shares in the last quarter. 92.42% of the stock is currently owned by hedge funds and other institutional investors.

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.