Key Points
- Booking director Robert Mylod Jr. sold 1,000 shares for approximately $200,000 at $200 per share, reducing his holdings by 6.67% to 14,000 shares. The transaction was conducted under a pre-arranged Rule 10b5-1 trading plan.
- Booking’s latest quarterly results exceeded expectations, with adjusted earnings of $2.54 per share and revenue of $7.35 billion, up 8.1% year over year. The company also declared a $0.42 quarterly dividend, equivalent to a 0.8% annualized yield.
- Analysts remain broadly positive, giving BKNG a “Moderate Buy” consensus rating and an average price target of $236.70 versus the referenced share price near $199.60.
Booking Holdings Inc. (NASDAQ:BKNG - Get Free Report) Director Robert Mylod, Jr. sold 1,000 shares of the firm's stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $200.00, for a total transaction of $200,000.00. Following the completion of the sale, the director owned 14,000 shares of the company's stock, valued at approximately $2,800,000. This trade represents a 6.67% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Booking Trading Up 2.0%
NASDAQ BKNG opened at $199.60 on Thursday. The firm's fifty day simple moving average is $193.71 and its two-hundred day simple moving average is $178.12. The firm has a market capitalization of $149.98 billion, a P/E ratio of 22.09, a P/E/G ratio of 1.21 and a beta of 1.07. Booking Holdings Inc. has a 12-month low of $150.14 and a 12-month high of $226.10.
Booking (NASDAQ:BKNG - Get Free Report) last issued its quarterly earnings data on Monday, August 3rd. The business services provider reported $2.54 EPS for the quarter, beating the consensus estimate of $2.43 by $0.11. The firm had revenue of $7.35 billion during the quarter, compared to analyst estimates of $7.19 billion. Booking had a negative return on equity of 102.96% and a net margin of 25.53%.The business's revenue for the quarter was up 8.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $55.40 EPS. As a group, sell-side analysts predict that Booking Holdings Inc. will post 10.48 earnings per share for the current fiscal year.
Booking Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Friday, September 11th will be paid a $0.42 dividend. The ex-dividend date is Friday, September 11th. This represents a $1.68 dividend on an annualized basis and a yield of 0.8%. Booking's dividend payout ratio (DPR) is 18.58%.
Analysts Set New Price Targets
A number of brokerages have recently weighed in on BKNG. Wells Fargo & Company set a $220.00 price target on Booking and gave the stock an "equal weight" rating in a research note on Wednesday, August 5th. Oppenheimer reaffirmed an "outperform" rating and issued a $240.00 price target (up from $215.00) on shares of Booking in a report on Wednesday, August 5th. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and set a $230.00 price objective on shares of Booking in a research note on Wednesday, August 5th. B. Riley Financial reissued a "buy" rating and issued a $274.00 target price (up from $264.00) on shares of Booking in a research report on Wednesday, August 5th. Finally, Jefferies Financial Group raised their target price on Booking from $180.00 to $190.00 and gave the stock a "hold" rating in a research note on Tuesday, July 14th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $236.70.
Check Out Our Latest Stock Report on Booking
Hedge Funds Weigh In On Booking
A number of institutional investors have recently bought and sold shares of the business. California State Teachers Retirement System increased its stake in shares of Booking by 419,256.0% in the second quarter. California State Teachers Retirement System now owns 214,651,580 shares of the business services provider's stock worth $38,259,498,000 after acquiring an additional 214,600,394 shares during the period. BlackRock Inc. purchased a new stake in Booking in the second quarter valued at $11,646,302,000. Deutsche Bank AG acquired a new stake in Booking during the 2nd quarter worth about $1,691,186,000. Bank of New York Mellon Corp acquired a new stake in Booking during the 2nd quarter worth about $1,370,455,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Booking by 2,525.5% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,101,866 shares of the business services provider's stock valued at $1,087,597,000 after buying an additional 5,869,459 shares during the last quarter. 92.42% of the stock is owned by hedge funds and other institutional investors.
Trending Headlines about Booking
Here are the key news stories impacting Booking this week:
- Positive Sentiment: Rosenblatt initiated coverage with a Buy/Strong Buy rating and a $245 price target, implying roughly 23% upside from the referenced share price. The firm considers Booking one of the best-positioned online travel agencies despite industry challenges. Rosenblatt sees Booking as the best-positioned online travel agency
- Positive Sentiment: Recent operating results support the bullish analyst view. Booking’s latest reported quarter exceeded consensus estimates for both earnings and revenue, with revenue increasing 8.1% year over year. The company also recently declared a quarterly dividend of $0.42 per share.
- Positive Sentiment: Momentum-focused coverage was favorable. Zacks identified Booking as a strong momentum stock, noting its recent performance relative to the broader market. This may encourage continued interest from momentum-oriented investors. Why Booking is a strong momentum stock
- Neutral Sentiment: Priceline CEO Brigit Zimmerman discussed travel trends ahead of the Labor Day weekend. The commentary could provide insight into travel demand, but the available report does not indicate whether the trends were specifically positive or negative for Booking. Priceline CEO discusses travel trends
- Negative Sentiment: Insiders reported stock sales. Director Robert J. Mylod Jr. sold 1,000 shares for approximately $200,000, while insider Paulo Pisano sold 3,000 shares for about $610,440. Both transactions were executed under pre-arranged Rule 10b5-1 plans, reducing their significance as signals of deteriorating business prospects. Booking insider stock sales
Booking Company Profile
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Get Free Report)
Booking Holdings Inc is a global online travel company that operates a portfolio of consumer brands and technology platforms that facilitate the search for and booking of travel services. The company's businesses focus on accommodations, transportation and related travel services through consumer-facing websites and apps as well as partner distribution channels. Booking Holdings was originally founded as Priceline in the late 1990s and adopted the Booking Holdings name in 2018; it is headquartered in Norwalk, Connecticut.
Its core offerings include online reservations for hotels, vacation rentals and other lodging; flight and car rental search and booking; and ancillary services that support travel planning and on-property experiences.
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