Cantor Fitzgerald Reduces Earnings Estimates for Booking

Booking Holdings Inc. (NASDAQ:BKNG) – Equities researchers at Cantor Fitzgerald decreased their FY2024 earnings per share (EPS) estimates for Booking in a research note issued to investors on Thursday, October 31st. Cantor Fitzgerald analyst D. Mathivanan now forecasts that the business services provider will earn $176.62 per share for the year, down from their previous forecast of $180.03. Cantor Fitzgerald has a “Neutral” rating and a $3,590.00 price target on the stock. The consensus estimate for Booking’s current full-year earnings is $179.44 per share.

Other equities research analysts also recently issued research reports about the stock. StockNews.com downgraded shares of Booking from a “buy” rating to a “hold” rating in a research note on Friday, November 1st. Tigress Financial lifted their price target on 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. Benchmark restated a “buy” rating and set a $4,600.00 target price on shares of Booking in a research report on Tuesday, October 29th. Mizuho upped their price target on shares of Booking from $4,800.00 to $5,400.00 and gave the company an “outperform” rating in a report on Tuesday. Finally, Barclays raised their price target on shares of Booking from $4,500.00 to $5,100.00 and gave the stock an “overweight” rating in a research note on Thursday, October 31st. Twelve research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Booking currently has a consensus rating of “Moderate Buy” and an average price target of $4,729.14.

Booking Stock Performance

BKNG opened at $4,914.98 on Monday. The stock has a market capitalization of $162.69 billion, a P/E ratio of 33.35, a price-to-earnings-growth ratio of 1.49 and a beta of 1.38. Booking has a one year low of $2,888.45 and a one year high of $4,916.01. The business’s 50-day simple moving average is $4,177.20 and its 200-day simple moving average is $3,907.03.

Booking Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 6th will be paid a $8.75 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $35.00 dividend on an annualized basis and a dividend yield of 0.71%. Booking’s dividend payout ratio (DPR) is presently 23.75%.

Insiders Place Their Bets

In related news, insider Paulo Pisano sold 100 shares of the firm’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $3,887.61, for a total value of $388,761.00. Following the completion of the sale, the insider now owns 3,787 shares of the company’s stock, valued at $14,722,379.07. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.12% of the company’s stock.

Institutional Investors Weigh In On Booking

Hedge funds have recently bought and sold shares of the company. International Assets Investment Management LLC bought a new position in Booking during the 3rd quarter worth about $5,322,600,000. Bessemer Group Inc. raised its position in Booking by 4,565.4% during the first quarter. Bessemer Group Inc. now owns 62,610 shares of the business services provider’s stock worth $227,143,000 after acquiring an additional 61,268 shares in the last quarter. Mawer Investment Management Ltd. increased its stake in shares of Booking by 29.2% during the 1st quarter. Mawer Investment Management Ltd. now owns 193,515 shares of the business services provider’s stock worth $702,049,000 after purchasing an additional 43,743 shares during the last quarter. 1832 Asset Management L.P. raised its stake in Booking by 106.0% in the second quarter. 1832 Asset Management L.P. now owns 71,334 shares of the business services provider’s stock valued at $282,590,000 after buying an additional 36,710 shares during the period. Finally, AustralianSuper Pty Ltd boosted its stake in shares of Booking by 2,315.8% during the 2nd quarter. AustralianSuper Pty Ltd now owns 36,793 shares of the business services provider’s stock worth $145,755,000 after acquiring an additional 35,270 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.