Booking Holdings Inc. to Post FY2023 Earnings of $140.65 Per Share, DA Davidson Forecasts (NASDAQ:BKNG)

Booking Holdings Inc. (NASDAQ:BKNG – Get Rating) – Equities research analysts at DA Davidson upped their FY2023 earnings estimates for Booking in a report released on Monday, May 22nd. DA Davidson analyst T. White now expects that the business services provider will post earnings per share of $140.65 for the year, up from their previous estimate of $111.91. The consensus estimate for Booking’s current full-year earnings is $137.11 per share. DA Davidson also issued estimates for Booking’s FY2024 earnings at $161.58 EPS.

Booking (NASDAQ:BKNG – Get Rating) last posted its quarterly earnings data on Thursday, May 4th. The business services provider reported $11.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $9.63 by $1.97. Booking had a net margin of 22.14% and a return on equity of 148.40%. The company had revenue of $3.78 billion for the quarter, compared to analyst estimates of $3.75 billion. During the same quarter last year, the firm posted $3.90 earnings per share. The business’s quarterly revenue was up 40.2% on a year-over-year basis.

Other equities analysts also recently issued research reports about the stock. The Goldman Sachs Group lifted their price objective on shares of Booking from $2,250.00 to $2,630.00 and gave the stock a “neutral” rating in a report on Friday, February 24th. Morgan Stanley boosted their price target on shares of Booking from $2,500.00 to $2,600.00 in a report on Friday, May 5th. Credit Suisse Group boosted their price target on shares of Booking from $2,600.00 to $2,850.00 and gave the company an “outperform” rating in a report on Friday, February 24th. Bank of America lifted their price objective on shares of Booking from $2,850.00 to $2,900.00 in a research note on Friday, May 5th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Booking from $2,850.00 to $3,000.00 in a research note on Friday, May 5th. Nine investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $2,753.25.

Booking Stock Down 1.1 %

BKNG stock opened at $2,597.37 on Wednesday. The company has a market capitalization of $95.92 billion, a P/E ratio of 25.47, a PEG ratio of 1.17 and a beta of 1.33. The firm has a 50 day simple moving average of $2,624.25 and a 200-day simple moving average of $2,361.94. The company has a current ratio of 1.59, a quick ratio of 1.59 and a debt-to-equity ratio of 11.16. Booking has a twelve month low of $1,616.85 and a twelve month high of $2,786.85.

Institutional Investors Weigh In On Booking

A number of hedge funds have recently modified their holdings of the business. Norges Bank bought a new position in Booking in the fourth quarter valued at approximately $1,068,137,000. Proficio Capital Partners LLC grew its stake in Booking by 266,957.5% in the first quarter. Proficio Capital Partners LLC now owns 389,904 shares of the business services provider’s stock valued at $390,000 after purchasing an additional 389,758 shares in the last quarter. Fisher Asset Management LLC grew its stake in Booking by 15,671.5% in the first quarter. Fisher Asset Management LLC now owns 334,041 shares of the business services provider’s stock valued at $886,014,000 after purchasing an additional 331,923 shares in the last quarter. Longview Partners Guernsey LTD bought a new position in Booking in the third quarter valued at approximately $452,154,000. Finally, Envestnet Asset Management Inc. grew its stake in Booking by 503.6% in the first quarter. Envestnet Asset Management Inc. now owns 188,796 shares of the business services provider’s stock valued at $85,684,000 after purchasing an additional 157,518 shares in the last quarter. Institutional investors and hedge funds own 89.23% of the company’s stock.

Insider Transactions at Booking

In other news, CEO Glenn D. Fogel sold 427 shares of the company’s stock in a transaction on Wednesday, March 15th. The stock was sold at an average price of $2,427.11, for a total transaction of $1,036,375.97. Following the transaction, the chief executive officer now owns 42,949 shares of the company’s stock, valued at $104,241,947.39. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Glenn D. Fogel sold 427 shares of the company’s stock in a transaction on Wednesday, March 15th. The stock was sold at an average price of $2,427.11, for a total transaction of $1,036,375.97. Following the transaction, the chief executive officer now owns 42,949 shares of the company’s stock, valued at $104,241,947.39. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO David I. Goulden sold 550 shares of the stock in a transaction dated Wednesday, March 15th. The shares were sold at an average price of $2,418.64, for a total value of $1,330,252.00. Following the completion of the transaction, the chief financial officer now directly owns 16,154 shares in the company, valued at approximately $39,070,710.56. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 3,697 shares of company stock worth $9,543,636. Insiders own 0.13% of the company’s stock.

About Booking

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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.