Booking Holdings Inc. to Post FY2024 Earnings of $175.78 Per Share, DA Davidson Forecasts (NASDAQ:BKNG)

Booking Holdings Inc. (NASDAQ:BKNG) – Investment analysts at DA Davidson cut their FY2024 earnings estimates for shares of Booking in a research report issued on Monday, August 5th. DA Davidson analyst T. White now forecasts that the business services provider will post earnings per share of $175.78 for the year, down from their previous forecast of $179.21. DA Davidson has a “Buy” rating and a $4,100.00 price target on the stock. The consensus estimate for Booking’s current full-year earnings is $178.90 per share.

Booking (NASDAQ:BKNG) last posted its quarterly earnings data on Thursday, August 1st. The business services provider reported $41.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $39.22 by $2.68. The company had revenue of $5.86 billion for 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 237.46%. The business’s revenue was up 7.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $37.62 EPS.

A number of other research analysts have also commented on the stock. Wells Fargo & Company upped their price objective on shares of Booking from $3,497.00 to $3,976.00 and gave the company an “equal weight” rating in a research report on Friday, August 2nd. Oppenheimer cut their price objective on shares of Booking from $4,600.00 to $4,200.00 and set an “outperform” rating for the company in a research report on Friday, August 2nd. Wedbush increased their price target on shares of Booking from $3,850.00 to $4,200.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. Bank of America dropped their price target on shares of Booking from $3,950.00 to $3,750.00 and set a “neutral” rating for the company in a research report on Friday, August 2nd. Finally, B. Riley dropped their price target on shares of Booking from $4,900.00 to $4,650.00 and set a “buy” rating for the company in a research report on Friday, August 2nd. Eight 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. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $4,068.32.

Booking Stock Performance

Shares of BKNG opened at $3,394.85 on Wednesday. The company has a 50-day simple moving average of $3,840.57 and a 200-day simple moving average of $3,684.94. The firm has a market capitalization of $115.18 billion, a P/E ratio of 25.46, a P/E/G ratio of 1.09 and a beta of 1.38. Booking has a 52 week low of $2,733.04 and a 52 week high of $4,144.32.

Booking Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 6th will be paid a $8.75 dividend. The ex-dividend date of this dividend is Friday, September 6th. This represents a $35.00 dividend on an annualized basis and a yield of 1.03%. Booking’s payout ratio is presently 26.25%.

Insider Buying and Selling at Booking

In other Booking news, CEO Glenn D. Fogel sold 750 shares of the firm’s stock in a transaction that occurred on 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 transaction, the chief executive officer now directly owns 24,721 shares of the company’s stock, valued at $100,556,375.65. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.12% of the company’s stock.

Institutional Investors Weigh In On Booking

Several hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in Booking by 0.4% in the first quarter. Vanguard Group Inc. now owns 2,954,450 shares of the business services provider’s stock worth $10,718,390,000 after purchasing an additional 12,456 shares during the period. Janus Henderson Group PLC raised its holdings in Booking by 4.5% in the first quarter. Janus Henderson Group PLC now owns 514,336 shares of the business services provider’s stock worth $1,865,949,000 after purchasing an additional 21,969 shares during the period. Norges Bank acquired a new stake in Booking in the fourth quarter worth $1,742,160,000. Fisher Asset Management LLC raised its holdings in shares of Booking by 4.3% during the fourth quarter. Fisher Asset Management LLC now owns 376,734 shares of the business services provider’s stock worth $1,336,362,000 after acquiring an additional 15,381 shares during the period. Finally, Ninety One UK Ltd raised its holdings in shares of Booking by 3.1% during the second quarter. Ninety One UK Ltd now owns 358,720 shares of the business services provider’s stock worth $1,421,069,000 after acquiring an additional 10,889 shares during the period. 92.42% of the stock is currently owned by institutional investors and hedge funds.

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.