Booking’s (BKNG) “Buy” Rating Reaffirmed at SunTrust Banks

SunTrust Banks restated their buy rating on shares of Booking (NASDAQ:BKNG) in a report published on Thursday morning, reports. SunTrust Banks currently has a $2,150.00 price target on the business services provider’s stock.

“We expect 2Q RNG to be slightly above Street expectations but to remain impacted by a weak European macro and moderation in global growth. Within Europe, we view slowing economic growth in Germany and Italy as modest negatives and see marginal benefit from extended Brexit deadline. Given the cloudy macro picture, we expect greater European traveler flows to lower cost destinations, contributing to ADR decline. While the macro is likely to remain a NT overhang on growth, at ~12x in buyback authorization and a sticky offering, we find the risk/reward attractive for LT holders.”,” the firm’s analyst commented.

Other research analysts also recently issued research reports about the company. Mizuho set a $88.00 price objective on Gilead Sciences and gave the company a buy rating in a research note on Friday, May 10th. Ascendiant Capital Markets set a $2,000.00 price objective on Booking and gave the company a buy rating in a research report on Tuesday, May 14th. ValuEngine upgraded VESTAS WIND SYS/ADR from a hold rating to a buy rating in a research report on Thursday, May 9th. Cleveland Research started coverage on Tripadvisor in a research note on Wednesday, June 19th. They issued a neutral rating for the company. Finally, Stifel Nicolaus reiterated a hold rating on shares of NEXT in a research note on Monday, April 29th. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating and fourteen have issued a buy rating to the company. The company currently has a consensus rating of Hold and a consensus price target of $2,060.52.

Shares of Booking stock opened at $1,882.09 on Thursday. Booking has a 1 year low of $1,606.27 and a 1 year high of $2,131.90. The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 1.34. The firm has a market cap of $81.48 billion, a P/E ratio of 20.33, a price-to-earnings-growth ratio of 1.54 and a beta of 1.13. The firm’s fifty day simple moving average is $1,833.47.

Booking (NASDAQ:BKNG) last released its earnings results on Thursday, May 9th. The business services provider reported $11.17 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $11.26 by ($0.09). The business had revenue of $2.84 billion during the quarter, compared to the consensus estimate of $2.93 billion. Booking had a net margin of 28.79% and a return on equity of 48.32%. The business’s revenue was down 3.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $12.34 EPS. As a group, sell-side analysts expect that Booking will post 100.86 EPS for the current year.

In other news, Director Jeffrey E. Epstein sold 250 shares of Booking stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $1,755.75, for a total transaction of $438,937.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Gillian Tans sold 606 shares of Booking stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $1,778.60, for a total value of $1,077,831.60. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,462 shares of company stock valued at $2,602,200. 0.24% of the stock is currently owned by company insiders.

A number of institutional investors have recently added to or reduced their stakes in BKNG. Weaver Consulting Group bought a new stake in shares of Booking during the 1st quarter worth about $25,000. Guidant Wealth Advisors bought a new stake in Booking in the 1st quarter valued at $26,000. Truvestments Capital LLC bought a new stake in shares of Booking in the 1st quarter worth about $44,000. Horan Capital Advisors LLC. acquired a new position in Booking during the 1st quarter worth about $49,000. Finally, Legacy Advisors LLC lifted its position in Booking by 172.7% during the 2nd quarter. Legacy Advisors LLC now owns 30 shares of the business services provider’s stock valued at $56,000 after purchasing an additional 19 shares during the period. Hedge funds and other institutional investors own 92.89% of the company’s stock.

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, and brands.

Read More: Price to Earnings Ratio (PE)

Analyst Recommendations for Booking (NASDAQ:BKNG)

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