Booking (NASDAQ:BKNG) Lowered to Hold Rating by StockNews.com

StockNews.com cut shares of Booking (NASDAQ:BKNG) from a buy rating to a hold rating in a research report sent to investors on Thursday morning.

Several other research analysts also recently issued reports on BKNG. JMP Securities reiterated a “market outperform” rating and set a $5,400.00 price target on shares of Booking in a report on Wednesday, December 11th. UBS Group upped their target price on Booking from $5,560.00 to $5,960.00 and gave the stock a “buy” rating in a report on Friday, February 21st. Citigroup lifted their price target on Booking from $5,500.00 to $5,800.00 and gave the company a “buy” rating in a research note on Friday, February 21st. Robert W. Baird began coverage on Booking in a research note on Wednesday, November 27th. They issued an “outperform” rating and a $5,850.00 price objective for the company. Finally, Erste Group Bank downgraded shares of Booking from a “strong-buy” rating to a “hold” rating in a research report on Monday. Eleven analysts have rated the stock with a hold rating, nineteen have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Booking presently has a consensus rating of “Moderate Buy” and an average target price of $5,370.43.

Booking Stock Performance

Booking stock opened at $4,589.03 on Thursday. The stock has a fifty day moving average of $4,792.05 and a 200-day moving average of $4,689.82. The stock has a market capitalization of $150.59 billion, a P/E ratio of 26.52, a price-to-earnings-growth ratio of 1.71 and a beta of 1.40. Booking has a 52 week low of $3,180.00 and a 52 week high of $5,337.24.

Booking (NASDAQ:BKNG) last posted its earnings results on Thursday, February 20th. The business services provider reported $41.55 EPS for the quarter, topping analysts’ consensus estimates of $35.82 by $5.73. The firm had revenue of $5.47 billion during the quarter, compared to analysts’ expectations of $5.18 billion. Booking had a net margin of 24.78% and a negative return on equity of 159.34%. On average, research analysts forecast that Booking will post 209.92 earnings per share for the current year.

Booking Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 7th will be issued a $9.60 dividend. The ex-dividend date of this dividend is Friday, March 7th. This represents a $38.40 annualized dividend and a yield of 0.84%. This is a positive change from Booking’s previous quarterly dividend of $8.75. Booking’s dividend payout ratio is presently 22.19%.

Hedge Funds Weigh In On Booking

A number of institutional investors have recently modified their holdings of the company. AEGON ASSET MANAGEMENT UK Plc bought a new stake in Booking during the 4th quarter valued at $25,000. New Wave Wealth Advisors LLC bought a new stake in shares of Booking during the fourth quarter worth about $25,000. Summit Securities Group LLC acquired a new stake in shares of Booking in the 4th quarter worth about $30,000. Bernard Wealth Management Corp. bought a new position in Booking in the 4th quarter valued at about $30,000. Finally, Promus Capital LLC acquired a new position in Booking during the 4th quarter valued at about $35,000. 92.42% of the stock is owned by institutional investors and hedge funds.

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.