Booking (NASDAQ:BKNG) PT Lowered to $3,750.00 at Bank of America

Booking (NASDAQ:BKNG) had its price objective cut by Bank of America from $3,950.00 to $3,750.00 in a research report report published on Friday, Benzinga reports. They currently have a neutral rating on the business services provider’s stock.

Several other analysts also recently issued reports on BKNG. Barclays reduced their price target on Booking from $4,300.00 to $3,900.00 and set an overweight rating for the company in a research note on Friday. Morgan Stanley boosted their price target on Booking from $3,700.00 to $4,000.00 and gave the company an equal weight rating in a research note on Tuesday, July 23rd. Evercore ISI reduced their price target on Booking from $4,500.00 to $4,200.00 and set an outperform rating for the company in a research note on Friday. Erste Group Bank upgraded Booking from a hold rating to a buy rating in a research report on Friday, June 14th. Finally, 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. Eight investment analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus price target of $4,068.32.

Booking Stock Up 2.0 %

Shares of BKNG stock traded up $68.40 during trading on Friday, reaching $3,451.83. 266,479 shares of the company’s stock were exchanged, compared to its average volume of 258,707. The stock has a market capitalization of $117.11 billion, a PE ratio of 25.37, a PEG ratio of 1.09 and a beta of 1.38. Booking has a twelve month low of $2,733.04 and a twelve month high of $4,144.32. The firm’s fifty day moving average price is $3,863.80 and its 200-day moving average price is $3,691.06.

Booking (NASDAQ:BKNG) last posted its earnings results on Thursday, August 1st. The business services provider reported $41.90 earnings per share for the quarter, topping analysts’ consensus estimates of $39.22 by $2.68. The business had revenue of $5.86 billion for the quarter, compared to analyst estimates of $5.77 billion. Booking had a negative return on equity of 237.46% and a net margin of 22.46%. The firm’s revenue was up 7.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $37.62 EPS. As a group, analysts anticipate that Booking will post 178.9 EPS for the current fiscal year.

Booking Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 6th will be given a dividend of $8.75 per share. The ex-dividend date is Friday, September 6th. This represents a $35.00 annualized dividend and a dividend yield of 1.01%. Booking’s payout ratio is 26.25%.

Insider Activity at Booking

In related news, CEO Glenn D. Fogel sold 750 shares of the company’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $4,067.65, for a total transaction of $3,050,737.50. Following the sale, the chief executive officer now owns 24,721 shares in the company, valued at approximately $100,556,375.65. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.12% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Global Assets Advisory LLC bought a new position in Booking in the first quarter worth approximately $401,371,000. Crestwood Advisors Group LLC boosted its position in shares of Booking by 3.0% during the fourth quarter. Crestwood Advisors Group LLC now owns 16,248 shares of the business services provider’s stock valued at $57,635,000 after buying an additional 470 shares during the last quarter. Boston Trust Walden Corp purchased a new position in shares of Booking during the fourth quarter valued at approximately $24,841,000. Baader Bank Aktiengesellschaft boosted its position in shares of Booking by 35.7% during the fourth quarter. Baader Bank Aktiengesellschaft now owns 1,889 shares of the business services provider’s stock valued at $6,699,000 after buying an additional 497 shares during the last quarter. Finally, Artisan Partners Limited Partnership boosted its position in shares of Booking by 2.3% during the fourth quarter. Artisan Partners Limited Partnership now owns 32,089 shares of the business services provider’s stock valued at $113,827,000 after buying an additional 729 shares during the last quarter. Institutional investors own 92.42% of the company’s stock.

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.