Cantor Fitzgerald Reaffirms Neutral Rating for Booking (NASDAQ:BKNG)

by · The Markets Daily

Cantor Fitzgerald reiterated their neutral rating on shares of Booking (NASDAQ:BKNG – Free Report) in a research report report published on Monday, Benzinga reports. They currently have a $3,590.00 price objective on the business services provider’s stock.

Several other equities analysts also recently issued reports on BKNG. Argus lifted their price target on shares of Booking from $4,200.00 to $4,342.00 and gave the company a buy rating in a report on Tuesday, June 4th. Evercore ISI reduced their target price on Booking from $4,500.00 to $4,200.00 and set an outperform rating on the stock in a report on Friday, August 2nd. Oppenheimer dropped their price target on Booking from $4,600.00 to $4,200.00 and set an outperform rating for the company in a report on Friday, August 2nd. Truist Financial began coverage on Booking in a research note on Friday, September 6th. They issued a hold rating and a $4,100.00 price objective on the stock. Finally, Wells Fargo & Company raised their target price on Booking from $3,497.00 to $3,976.00 and gave the company an equal weight rating in a research note on Friday, August 2nd. Eleven investment analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Booking presently has an average rating of Moderate Buy and a consensus price target of $4,064.21.

Read Our Latest Analysis on BKNG

Booking Trading Up 0.6 %

NASDAQ BKNG opened at $4,125.01 on Monday. Booking has a 1-year low of $2,733.04 and a 1-year high of $4,272.88. The company has a market capitalization of $138.27 billion, a price-to-earnings ratio of 30.94, a PEG ratio of 1.30 and a beta of 1.40. The stock’s 50 day moving average is $3,805.62 and its two-hundred day moving average is $3,766.25.

Booking (NASDAQ:BKNG – Get Free Report) last announced its quarterly earnings results on Thursday, August 1st. The business services provider reported $41.90 EPS for the quarter, beating the consensus estimate 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 200.87% and a net margin of 22.46%. Booking’s quarterly revenue was up 7.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $37.62 EPS. On average, analysts predict that Booking will post 176.92 earnings per share for the current year.

Booking Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 6th were issued a dividend of $8.75 per share. The ex-dividend date was Friday, September 6th. This represents a $35.00 annualized dividend and a yield of 0.85%. Booking’s dividend payout ratio is presently 26.25%.

Insiders Place Their Bets

In other news, CEO Glenn D. Fogel sold 750 shares of Booking 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 transaction, the chief executive officer now owns 24,721 shares in the company, valued at approximately $100,556,375.65. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Paulo Pisano sold 100 shares of the business’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $3,887.61, for a total value of $388,761.00. Following the sale, the insider now directly owns 3,787 shares in the company, valued at $14,722,379.07. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, 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 value of $3,050,737.50. Following the transaction, the chief executive officer now directly owns 24,721 shares of the company’s stock, valued at $100,556,375.65. The disclosure for this sale can be found here. Corporate insiders own 0.12% of the company’s stock.

Hedge Funds Weigh In On Booking

Large investors have recently bought and sold shares of the company. ICA Group Wealth Management LLC acquired a new position in Booking during the fourth quarter worth $25,000. Grove Bank & Trust boosted its stake in shares of Booking by 133.3% during the 2nd quarter. Grove Bank & Trust now owns 7 shares of the business services provider’s stock worth $28,000 after buying an additional 4 shares during the last quarter. POM Investment Strategies LLC bought a new position in shares of Booking in the 2nd quarter valued at about $28,000. Kings Path Partners LLC acquired a new stake in shares of Booking in the second quarter valued at about $28,000. Finally, Financial Connections Group Inc. bought a new stake in Booking during the second quarter worth about $31,000. Institutional investors and hedge funds own 92.42% of the company’s stock.

Booking Company Profile

(Get Free Report)

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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