Booking (NASDAQ:BKNG) Coverage Initiated at Cantor Fitzgerald

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

Other equities analysts have also issued research reports about the stock. Deutsche Bank Aktiengesellschaft cut their price target on shares of Booking from $4,275.00 to $4,105.00 and set a buy rating on the stock in a report on Friday, August 2nd. Argus increased their price target on Booking from $4,200.00 to $4,342.00 and gave the company a buy rating in a research note on Tuesday, June 4th. Morgan Stanley boosted their price target on shares of Booking from $3,700.00 to $4,000.00 and gave the stock an equal weight rating in a research report on Tuesday, July 23rd. Wedbush lifted their target price 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, July 31st. Finally, B. Riley dropped their target price on shares of Booking from $4,900.00 to $4,650.00 and set a buy rating on the stock in a report on Friday, August 2nd. Eleven analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus target price of $4,064.21.

Booking Trading Down 1.1 %

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

Booking (NASDAQ:BKNG) last posted its earnings results on Thursday, August 1st. The business services provider reported $41.90 EPS for the quarter, topping 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 business had revenue of $5.86 billion for the quarter, compared to the consensus estimate of $5.77 billion. During the same period last year, the company earned $37.62 EPS. The firm’s revenue was up 7.3% compared to the same quarter last year. On average, sell-side analysts predict that Booking will post 177.09 earnings per share for the current fiscal year.

Booking Dividend Announcement

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

Insiders Place Their Bets

In other news, insider Paulo Pisano sold 100 shares of the firm’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $3,887.61, for a total value of $388,761.00. Following the transaction, the insider now owns 3,787 shares in the company, valued at $14,722,379.07. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Paulo Pisano sold 100 shares of the company’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $3,887.61, for a total value of $388,761.00. Following the completion of the sale, the insider now owns 3,787 shares in the company, valued at approximately $14,722,379.07. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Glenn D. Fogel sold 750 shares of the firm’s 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 transaction, the chief executive officer now directly owns 24,721 shares in the company, valued at $100,556,375.65. The disclosure for this sale can be found here. Corporate insiders own 0.12% of the company’s stock.

Hedge Funds Weigh In On Booking

A number of hedge funds and other institutional investors have recently modified their holdings of the business. ICA Group Wealth Management LLC bought a new stake in Booking during the fourth quarter worth $25,000. Grove Bank & Trust grew its stake in 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 during the period. POM Investment Strategies LLC purchased a new stake in shares of Booking during the 2nd quarter valued at $28,000. Kings Path Partners LLC bought a new stake in shares of Booking during the 2nd quarter worth $28,000. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Booking during the 2nd quarter worth $32,000. Hedge funds and other institutional investors 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.