DA Davidson Weighs in on Booking Holdings Inc.’s Q2 2024 Earnings (NASDAQ:BKNG)

Booking Holdings Inc. (NASDAQ:BKNG) – Analysts at DA Davidson issued their Q2 2024 EPS estimates for Booking in a research note issued on Monday, May 6th. DA Davidson analyst T. White expects that the business services provider will post earnings of $38.69 per share for the quarter. DA Davidson has a “Buy” rating and a $4,150.00 price target on the stock. The consensus estimate for Booking’s current full-year earnings is $176.46 per share. DA Davidson also issued estimates for Booking’s FY2024 earnings at $179.21 EPS and FY2025 earnings at $201.33 EPS.

Booking (NASDAQ:BKNG) last announced its earnings results on Thursday, May 2nd. The business services provider reported $20.39 EPS for the quarter, topping analysts’ consensus estimates of $14.03 by $6.36. Booking had a negative return on equity of 288.35% and a net margin of 21.81%. The company had revenue of $4.42 billion for the quarter, compared to analysts’ expectations of $4.25 billion. During the same period last year, the firm earned $11.60 EPS. Booking’s revenue for the quarter was up 16.9% compared to the same quarter last year.

Several other equities analysts also recently weighed in on the stock. JPMorgan Chase & Co. lifted their price target on shares of Booking from $3,950.00 to $4,025.00 and gave the company an “overweight” rating in a report on Friday, May 3rd. Wedbush reaffirmed an “outperform” rating and issued a $3,850.00 target price on shares of Booking in a report on Tuesday, April 30th. Barclays decreased their price target on Booking from $3,900.00 to $3,800.00 and set an “overweight” rating on the stock in a report on Friday, February 23rd. Oppenheimer upped their price objective on Booking from $3,450.00 to $4,200.00 and gave the stock an “outperform” rating in a research note on Monday, February 5th. Finally, HSBC lifted their target price on Booking from $4,220.00 to $4,230.00 and gave the company a “buy” rating in a research note on Tuesday. Ten equities research 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 data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $3,844.48.

Booking Stock Up 0.2 %

NASDAQ BKNG opened at $3,605.41 on Tuesday. Booking has a 52 week low of $2,456.93 and a 52 week high of $3,918.00. The company has a market capitalization of $122.33 billion, a P/E ratio of 27.04, a price-to-earnings-growth ratio of 1.08 and a beta of 1.40. The stock’s 50-day moving average price is $3,528.95 and its 200-day moving average price is $3,418.38.

Institutional Investors Weigh In On Booking

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Norges Bank purchased a new position in shares of Booking during the fourth quarter valued at $1,742,160,000. Northern Trust Corp raised its holdings in shares of Booking by 1.3% in the 3rd quarter. Northern Trust Corp now owns 383,996 shares of the business services provider’s stock valued at $1,184,224,000 after purchasing an additional 5,040 shares in the last quarter. Fisher Asset Management LLC lifted its position in shares of Booking by 4.3% in the 4th quarter. Fisher Asset Management LLC now owns 376,734 shares of the business services provider’s stock worth $1,336,362,000 after purchasing an additional 15,381 shares during the period. Sanders Capital LLC boosted its stake in shares of Booking by 3.5% during the fourth quarter. Sanders Capital LLC now owns 275,172 shares of the business services provider’s stock valued at $976,096,000 after purchasing an additional 9,419 shares in the last quarter. Finally, Mawer Investment Management Ltd. increased its holdings in Booking by 29.2% during the first quarter. Mawer Investment Management Ltd. now owns 193,515 shares of the business services provider’s stock valued at $702,049,000 after buying an additional 43,743 shares during the period. Institutional investors own 92.42% of the company’s stock.

Insiders Place Their Bets

In related news, insider Paulo Pisano sold 300 shares of the company’s stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $3,485.00, for a total transaction of $1,045,500.00. Following the transaction, the insider now directly owns 4,233 shares in the company, valued at approximately $14,752,005. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Paulo Pisano sold 300 shares of the firm’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $3,485.00, for a total transaction of $1,045,500.00. Following the completion of the sale, the insider now directly owns 4,233 shares of the company’s stock, valued at approximately $14,752,005. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Glenn D. Fogel sold 4,302 shares of the company’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $3,422.75, for a total value of $14,724,670.50. Following the completion of the transaction, the chief executive officer now directly owns 33,548 shares in the company, valued at approximately $114,826,417. The disclosure for this sale can be found here. Insiders sold 5,424 shares of company stock valued at $18,673,145 over the last three months. 0.12% of the stock is owned by company insiders.

Booking Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 7th will be paid a dividend of $8.75 per share. This represents a $35.00 annualized dividend and a yield of 0.97%. The ex-dividend date is Friday, June 7th. Booking’s payout ratio is 26.25%.

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.