Booking (NASDAQ:BKNG) Lifted to Buy at StockNews.com

StockNews.com upgraded shares of Booking (NASDAQ:BKNG) from a hold rating to a buy rating in a research report report published on Wednesday.

Several other equities research analysts also recently weighed in on BKNG. Benchmark lowered their price target on Booking from $4,700.00 to $4,600.00 and set a “buy” rating for the company in a report on Friday, August 2nd. Cantor Fitzgerald reiterated a “neutral” rating and issued a $3,590.00 target price on shares of Booking in a research note on Monday, October 7th. Jefferies Financial Group lowered shares of Booking from a “buy” rating to a “hold” rating and cut their price target for the company from $4,350.00 to $4,200.00 in a research note on Wednesday, September 4th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Booking from $4,275.00 to $4,105.00 and set a “buy” rating for the company in a report on Friday, August 2nd. Finally, Morgan Stanley boosted their price objective on shares of Booking from $4,000.00 to $4,200.00 and gave the company an “equal weight” rating in a report on Thursday, September 5th. Ten equities research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $4,130.18.

Booking Stock Down 0.5 %

Shares of Booking stock opened at $4,350.82 on Wednesday. The company has a market cap of $147.61 billion, a P/E ratio of 32.63, a PEG ratio of 1.31 and a beta of 1.40. The firm’s 50 day moving average price is $3,980.33 and its 200-day moving average price is $3,822.64. Booking has a 52-week low of $2,733.04 and a 52-week high of $4,394.95.

Booking (NASDAQ:BKNG) last released its quarterly earnings results on Thursday, August 1st. The business services provider reported $41.90 earnings per share (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 analyst estimates of $5.77 billion. During the same period in the previous year, the company earned $37.62 earnings per share. The business’s revenue for the quarter was up 7.3% on a year-over-year basis. As a group, equities research analysts forecast that Booking will post 176.92 EPS for the current fiscal year.

Booking Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 6th were paid a dividend of $8.75 per share. This represents a $35.00 annualized dividend and a dividend yield of 0.80%. The ex-dividend date of this dividend was Friday, September 6th. Booking’s payout ratio is 26.25%.

Insider Activity

In other Booking news, insider Paulo Pisano sold 100 shares of the stock in a transaction on 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 transaction, the insider now directly owns 3,787 shares of the company’s stock, valued at $14,722,379.07. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.12% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of BKNG. Global Assets Advisory LLC purchased a new position in shares of Booking in the first quarter valued at approximately $401,371,000. Bessemer Group Inc. grew its stake in Booking by 4,565.4% during the 1st quarter. Bessemer Group Inc. now owns 62,610 shares of the business services provider’s stock valued at $227,143,000 after acquiring an additional 61,268 shares in the last quarter. Mawer Investment Management Ltd. raised its holdings in Booking by 29.2% in the 1st quarter. Mawer Investment Management Ltd. now owns 193,515 shares of the business services provider’s stock valued at $702,049,000 after acquiring an additional 43,743 shares during the last quarter. 1832 Asset Management L.P. lifted its stake in Booking by 106.0% in the 2nd quarter. 1832 Asset Management L.P. now owns 71,334 shares of the business services provider’s stock worth $282,590,000 after purchasing an additional 36,710 shares in the last quarter. Finally, AustralianSuper Pty Ltd boosted its holdings in shares of Booking by 2,315.8% during the 2nd quarter. AustralianSuper Pty Ltd now owns 36,793 shares of the business services provider’s stock worth $145,755,000 after purchasing an additional 35,270 shares during the last quarter. 92.42% of the stock is 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.