Booking (NASDAQ:BKNG) Downgraded to “Hold” Rating by Erste Group Bank

Erste Group Bank cut shares of Booking (NASDAQ:BKNG) from a strong-buy rating to a hold rating in a report published on Monday,Zacks.com reports.

BKNG has been the subject of several other reports. Baird R W raised shares of Booking to a “strong-buy” rating in a report on Wednesday, November 27th. Piper Sandler reissued a “neutral” rating and set a $5,120.00 price objective (up from $4,900.00) on shares of Booking in a report on Friday, February 21st. DA Davidson raised their price objective on shares of Booking from $5,005.00 to $5,800.00 and gave the stock a “buy” rating in a report on Friday, February 21st. Morgan Stanley raised their price objective on shares of Booking from $4,600.00 to $5,000.00 and gave the stock an “equal weight” rating in a report on Monday, January 13th. Finally, BMO Capital Markets raised their price objective on shares of Booking from $5,155.00 to $5,900.00 and gave the stock an “outperform” rating in a report on Friday, February 21st. Ten investment analysts have rated the stock with a hold rating, twenty have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $5,370.43.

Booking Price Performance

Booking stock opened at $4,471.51 on Monday. Booking has a 12-month low of $3,180.00 and a 12-month high of $5,337.24. The company has a market capitalization of $146.73 billion, a price-to-earnings ratio of 25.84, a price-to-earnings-growth ratio of 1.71 and a beta of 1.40. The firm’s fifty day moving average price is $4,803.32 and its 200 day moving average price is $4,691.22.

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

Booking Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 7th will be paid a $9.60 dividend. This is a boost from Booking’s previous quarterly dividend of $8.75. The ex-dividend date of this dividend is Friday, March 7th. This represents a $38.40 dividend on an annualized basis and a dividend yield of 0.86%. Booking’s dividend payout ratio is currently 22.19%.

Institutional Investors Weigh In On Booking

A number of hedge funds have recently added to or reduced their stakes in the stock. AEGON ASSET MANAGEMENT UK Plc acquired a new stake in shares of Booking during the 4th quarter worth approximately $25,000. New Wave Wealth Advisors LLC acquired a new stake in Booking during the 4th quarter worth $25,000. Summit Securities Group LLC bought a new stake in shares of Booking during the 4th quarter valued at $30,000. Bernard Wealth Management Corp. acquired a new position in shares of Booking in the 4th quarter valued at $30,000. Finally, Promus Capital LLC bought a new position in shares of Booking in the 4th quarter worth $35,000. Institutional investors own 92.42% of the company’s stock.

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.