Equities Analysts Cut Earnings Estimates for Booking Holdings Inc. (NASDAQ:BKNG)

Equities Analysts Cut Earnings Estimates for Booking Holdings Inc. (NASDAQ:BKNG)

Booking Holdings Inc. (NASDAQ:BKNG) – Investment analysts at Oppenheimer dropped their Q1 2020 earnings estimates for Booking in a research note issued to investors on Wednesday, March 18th. Oppenheimer analyst J. Kelly now expects that the business services provider will post earnings of $3.28 per share for the quarter, down from their prior forecast of $9.70. Oppenheimer also issued estimates for Booking’s Q2 2020 earnings at $2.96 EPS, Q3 2020 earnings at $25.17 EPS, Q4 2020 earnings at $19.29 EPS, FY2020 earnings at $50.79 EPS and FY2021 earnings at $89.51 EPS.

Booking (NASDAQ:BKNG) last released its earnings results on Wednesday, February 26th. The business services provider reported $23.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $22.11 by $1.19. Booking had a return on equity of 74.06% and a net margin of 32.29%. The firm had revenue of $3.34 billion for the quarter, compared to the consensus estimate of $3.29 billion. During the same period in the prior year, the firm earned $22.49 EPS.

Other equities analysts also recently issued reports about the company. TheStreet downgraded Booking from a “b-” rating to a “c” rating in a research report on Thursday, March 12th. Royal Bank of Canada cut their target price on Booking from $2,150.00 to $1,900.00 and set an “outperform” rating on the stock in a research report on Tuesday, March 10th. Deutsche Bank cut their target price on Booking from $2,340.00 to $2,225.00 and set a “buy” rating on the stock in a research report on Wednesday, March 11th. Wells Fargo & Co cut their target price on Booking from $2,150.00 to $1,750.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 27th. Finally, ValuEngine raised Booking from a “sell” rating to a “hold” rating in a research report on Friday, March 6th. Seventeen investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Booking presently has a consensus rating of “Hold” and an average target price of $1,955.77.

NASDAQ BKNG opened at $1,177.43 on Monday. The company has a debt-to-equity ratio of 1.54, a current ratio of 1.83 and a quick ratio of 1.83. The stock’s fifty day moving average price is $1,736.14 and its 200 day moving average price is $1,923.40. Booking has a 1 year low of $1,150.00 and a 1 year high of $2,094.00. The company has a market cap of $48.92 billion, a price-to-earnings ratio of 10.46, a PEG ratio of 0.87 and a beta of 0.95.

A number of institutional investors and hedge funds have recently made changes to their positions in BKNG. Quadrant Capital Group LLC boosted its stake in shares of Booking by 39.9% during the 4th quarter. Quadrant Capital Group LLC now owns 435 shares of the business services provider’s stock worth $884,000 after acquiring an additional 124 shares in the last quarter. Macquarie Group Ltd. boosted its stake in shares of Booking by 4.6% during the 4th quarter. Macquarie Group Ltd. now owns 11,182 shares of the business services provider’s stock worth $22,965,000 after acquiring an additional 496 shares in the last quarter. TFG Advisers LLC purchased a new stake in shares of Booking during the 4th quarter worth about $41,000. Franklin Resources Inc. boosted its stake in shares of Booking by 22.2% during the 4th quarter. Franklin Resources Inc. now owns 26,172 shares of the business services provider’s stock worth $53,749,000 after acquiring an additional 4,746 shares in the last quarter. Finally, Nuveen Asset Management LLC boosted its stake in shares of Booking by 37.9% during the 4th quarter. Nuveen Asset Management LLC now owns 345,863 shares of the business services provider’s stock worth $710,309,000 after acquiring an additional 95,143 shares in the last quarter. 92.51% of the stock is currently owned by institutional investors.

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.

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