Booking (NASDAQ:BKNG) Downgraded by Wall Street Zen to Hold

Wall Street Zen cut shares of Booking (NASDAQ:BKNGFree Report) from a buy rating to a hold rating in a report issued on Sunday.

BKNG has been the topic of a number of other reports. Benchmark reduced their target price on shares of Booking from $6,400.00 to $5,600.00 and set a “buy” rating on the stock in a research report on Thursday, February 19th. KeyCorp lowered their price target on shares of Booking from $6,500.00 to $5,935.00 and set an “overweight” rating for the company in a research report on Thursday, February 19th. UBS Group set a $6,485.00 price objective on shares of Booking and gave the stock a “buy” rating in a research note on Thursday, February 19th. BTIG Research restated a “buy” rating and issued a $6,250.00 price objective on shares of Booking in a report on Tuesday, March 3rd. Finally, HSBC reaffirmed a “buy” rating and set a $7,746.00 target price on shares of Booking in a research note on Thursday, February 19th. Twenty-nine research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Booking has an average rating of “Moderate Buy” and a consensus target price of $5,845.61.

Check Out Our Latest Stock Analysis on Booking

Booking Price Performance

Shares of BKNG opened at $4,062.14 on Friday. Booking has a one year low of $3,765.45 and a one year high of $5,839.41. The company has a 50-day simple moving average of $4,458.66 and a two-hundred day simple moving average of $4,953.50. The firm has a market capitalization of $128.65 billion, a PE ratio of 24.45, a price-to-earnings-growth ratio of 0.93 and a beta of 1.21.

Booking shares are set to split before the market opens on Monday, April 6th. The 25-1 split was announced on Wednesday, February 18th. The newly created shares will be issued to shareholders after the market closes on Thursday, April 2nd.

Booking (NASDAQ:BKNGGet Free Report) last released its quarterly earnings results on Wednesday, February 18th. The business services provider reported $48.80 earnings per share for the quarter, beating the consensus estimate of $47.96 by $0.84. The company had revenue of $6.35 billion for the quarter, compared to analyst estimates of $6.12 billion. Booking had a negative return on equity of 128.99% and a net margin of 20.08%.The firm’s revenue was up 16.0% on a year-over-year basis. During the same period in the previous year, the company posted $41.55 earnings per share. Analysts expect that Booking will post 209.92 EPS for the current fiscal year.

Booking Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Friday, March 6th will be paid a dividend of $10.50 per share. The ex-dividend date is Friday, March 6th. This represents a $42.00 dividend on an annualized basis and a yield of 1.0%. This is an increase from Booking’s previous quarterly dividend of $9.60. Booking’s dividend payout ratio (DPR) is 25.28%.

Insiders Place Their Bets

In related news, CEO Glenn D. Fogel sold 953 shares of the firm’s stock in a transaction that occurred on Thursday, January 15th. The shares were sold at an average price of $5,181.34, for a total transaction of $4,937,817.02. Following the completion of the sale, the chief executive officer owned 19,615 shares of the company’s stock, valued at $101,631,984.10. This trade represents a 4.63% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robert J. Mylod, Jr. sold 40 shares of the business’s stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $5,105.36, for a total transaction of $204,214.40. Following the completion of the transaction, the director owned 840 shares of the company’s stock, valued at approximately $4,288,502.40. The trade was a 4.55% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 2,749 shares of company stock valued at $12,571,467. Insiders own 0.16% of the company’s stock.

Institutional Trading of Booking

Several institutional investors have recently added to or reduced their stakes in BKNG. KERR FINANCIAL PLANNING Corp purchased a new stake in shares of Booking during the third quarter valued at $26,000. Halbert Hargrove Global Advisors LLC raised its position in Booking by 150.0% in the 3rd quarter. Halbert Hargrove Global Advisors LLC now owns 5 shares of the business services provider’s stock worth $27,000 after buying an additional 3 shares during the last quarter. Guerra Advisors Inc bought a new position in Booking during the 3rd quarter valued at about $27,000. Daytona Street Capital LLC bought a new position in Booking during the 4th quarter valued at about $27,000. Finally, Legacy Bridge LLC bought a new position in Booking during the 4th quarter valued at about $27,000. 92.42% of the stock is currently owned by hedge funds and other institutional investors.

Key Booking News

Here are the key news stories impacting Booking this week:

About Booking

(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.

Read More

Analyst Recommendations for Booking (NASDAQ:BKNG)

Receive News & Ratings for Booking Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Booking and related companies with MarketBeat.com's FREE daily email newsletter.