Booking (NASDAQ:BKNG) Releases Quarterly Earnings Results, Beats Expectations By $5.95 EPS

Booking (NASDAQ:BKNG) posted its earnings results on Wednesday. The business services provider reported $83.89 EPS for the quarter, beating analysts’ consensus estimates of $77.94 by $5.95, reports. Booking had a negative return on equity of 165.63% and a net margin of 21.85%. The firm had revenue of $7.99 billion during the quarter, compared to the consensus estimate of $7.63 billion.

Booking Stock Performance

NASDAQ BKNG opened at $4,749.11 on Friday. The company has a market cap of $159.19 billion, a PE ratio of 32.23, a P/E/G ratio of 1.45 and a beta of 1.40. The firm’s 50 day moving average price is $4,136.96 and its 200-day moving average price is $3,880.99. Booking has a 52-week low of $2,756.39 and a 52-week high of $4,856.60.

Booking Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 6th will be issued a $8.75 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $35.00 annualized dividend and a dividend yield of 0.74%. Booking’s dividend payout ratio is currently 23.75%.

Insider Buying and Selling

In other Booking news, insider Paulo Pisano sold 100 shares of the 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 sale, the insider now owns 3,787 shares of the company’s stock, valued at approximately $14,722,379.07. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.12% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Booking

Hedge funds have recently made changes to their positions in the stock. Hennion & Walsh Asset Management Inc. purchased a new position in shares of Booking in the 1st quarter worth approximately $221,000. Miracle Mile Advisors LLC purchased a new position in Booking in the first quarter worth $210,000. Claro Advisors LLC increased its position in shares of Booking by 25.7% during the first quarter. Claro Advisors LLC now owns 88 shares of the business services provider’s stock worth $319,000 after purchasing an additional 18 shares in the last quarter. Hexagon Capital Partners LLC lifted its holdings in shares of Booking by 30.0% during the 1st quarter. Hexagon Capital Partners LLC now owns 13 shares of the business services provider’s stock valued at $47,000 after purchasing an additional 3 shares during the last quarter. Finally, Valley National Advisers Inc. lifted its holdings in shares of Booking by 400.0% during the 1st quarter. Valley National Advisers Inc. now owns 30 shares of the business services provider’s stock valued at $109,000 after purchasing an additional 24 shares during the last quarter. 92.42% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

BKNG has been the subject of several research reports. The Goldman Sachs Group increased their price objective on shares of Booking from $3,940.00 to $4,510.00 and gave the company a “neutral” rating in a research report on Friday. Bank of America lifted their price target on Booking from $4,448.00 to $4,850.00 and gave the stock a “neutral” rating in a research report on Thursday. B. Riley upped their price objective on Booking from $4,650.00 to $5,100.00 and gave the company a “buy” rating in a research report on Thursday. Piper Sandler lifted their target price on Booking from $3,560.00 to $4,900.00 and gave the stock a “neutral” rating in a report on Thursday. Finally, DA Davidson increased their price target on Booking from $4,100.00 to $5,005.00 and gave the company a “buy” rating in a report on Thursday. Twelve equities research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $4,680.18.

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.