Booking’s (BKNG) Neutral Rating Reaffirmed at Cantor Fitzgerald

Cantor Fitzgerald reaffirmed their neutral rating on shares of Booking (NASDAQ:BKNG) in a research note issued to investors on Monday morning, Benzinga reports. The firm currently has a $3,590.00 price objective on the business services provider’s stock.

Several other equities research analysts also recently weighed in on the stock. B. Riley lowered their target price on shares of Booking from $4,900.00 to $4,650.00 and set a buy rating for the company in a research note on Friday, August 2nd. Tigress Financial raised their target price on shares of Booking from $4,285.00 to $4,580.00 and gave the company a strong-buy rating in a research note on Tuesday, July 9th. Royal Bank of Canada reaffirmed an outperform rating and issued a $3,900.00 price target on shares of Booking in a report on Monday, August 5th. Evercore ISI decreased their price target on shares of Booking from $4,500.00 to $4,200.00 and set an outperform rating for the company in a report on Friday, August 2nd. Finally, Jefferies Financial Group cut shares of Booking from a buy rating to a hold rating and decreased their price target for the stock from $4,350.00 to $4,200.00 in a report on Wednesday, September 4th. Eleven investment analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average target price of $4,064.21.

Booking Stock Performance

NASDAQ BKNG opened at $4,104.12 on Monday. The firm’s 50 day moving average price is $3,814.50 and its 200-day moving average price is $3,768.60. Booking has a 52-week low of $2,733.04 and a 52-week high of $4,272.88. The company has a market cap of $137.57 billion, a PE ratio of 30.78, a P/E/G ratio of 1.30 and a beta of 1.40.

Booking (NASDAQ:BKNG) last announced its earnings results on Thursday, August 1st. The business services provider reported $41.90 earnings per share for the quarter, beating the consensus estimate of $39.22 by $2.68. The company had revenue of $5.86 billion during the quarter, compared to the consensus estimate of $5.77 billion. Booking had a net margin of 22.46% and a negative return on equity of 200.87%. Booking’s revenue was up 7.3% compared to the same quarter last year. During the same period last year, the firm earned $37.62 earnings per share. On average, analysts forecast that Booking will post 176.92 earnings per share for the current fiscal year.

Booking Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, September 6th were given a dividend of $8.75 per share. The ex-dividend date of this dividend 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%.

Insider Activity at Booking

In related news, insider Paulo Pisano sold 100 shares of the firm’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $3,887.61, for a total transaction of $388,761.00. Following the sale, the insider now owns 3,787 shares in the company, valued at $14,722,379.07. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, CEO Glenn D. Fogel sold 750 shares of Booking stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $4,067.65, for a total value of $3,050,737.50. Following the sale, the chief executive officer now owns 24,721 shares in the company, valued at $100,556,375.65. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Paulo Pisano sold 100 shares of Booking stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $3,887.61, for a total transaction of $388,761.00. Following the completion of the sale, the insider now owns 3,787 shares in the company, valued at approximately $14,722,379.07. The disclosure for this sale can be found here. 0.12% of the stock is owned by company insiders.

Institutional Trading of Booking

Several institutional investors have recently modified their holdings of BKNG. ICA Group Wealth Management LLC acquired a new position in Booking during the fourth quarter worth about $25,000. Grove Bank & Trust boosted its position in Booking by 133.3% during the second quarter. Grove Bank & Trust now owns 7 shares of the business services provider’s stock worth $28,000 after acquiring an additional 4 shares during the last quarter. POM Investment Strategies LLC acquired a new position in Booking during the second quarter worth about $28,000. Kings Path Partners LLC acquired a new position in Booking during the second quarter worth about $28,000. Finally, Financial Connections Group Inc. acquired a new position 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

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.