Booking (NASDAQ:BKNG) Receives “Buy” Rating from SunTrust Banks

Share on StockTwits

SunTrust Banks reaffirmed their buy rating on shares of Booking (NASDAQ:BKNG) in a research report report published on Thursday, AnalystRatings.com 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 wrote.

Other equities research analysts have also recently issued reports about the stock. Mizuho set a $88.00 target price on shares of Gilead Sciences and gave the company a buy rating in a report on Friday, May 10th. Wedbush set a $30.00 price target on shares of Aquestive Therapeutics and gave the stock a buy rating in a research note on Friday, March 22nd. Morgan Stanley set a $70.00 target price on shares of Edison International and gave the company a hold rating in a research note on Monday, July 15th. Credit Suisse Group set a $100.00 price target on shares of Procter & Gamble and gave the company a hold rating in a report on Friday, May 10th. Finally, Barclays lowered shares of Barrick Gold from an overweight rating to an equal weight rating and raised their price objective for the stock from $15.00 to $18.00 in a report on Tuesday, July 16th. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating and fourteen have assigned a buy rating to the stock. The company currently has an average rating of Hold and an average price target of $2,060.52.

NASDAQ:BKNG opened at $1,882.09 on Thursday. Booking has a 52 week low of $1,606.27 and a 52 week high of $2,131.90. The company has a debt-to-equity ratio of 1.34, a current ratio of 1.27 and a quick ratio of 1.27. The firm has a market cap of $81.48 billion, a PE ratio of 20.33, a PEG ratio of 1.54 and a beta of 1.13. The company’s 50-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 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 analysts’ expectations of $2.93 billion. Booking had a return on equity of 48.32% and a net margin of 28.79%. The company’s revenue for the quarter was down 3.1% compared to the same quarter last year. During the same period last year, the business earned $12.34 earnings per share. As a group, equities research analysts expect that Booking will post 100.86 earnings per share for the current year.

In other Booking news, Director Jeffrey E. Epstein sold 250 shares of the 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 sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Gillian Tans sold 606 shares of the stock in a transaction on Monday, June 17th. The shares were sold at an average price of $1,791.14, for a total value of $1,085,430.84. The disclosure for this sale can be found here. Insiders sold 1,462 shares of company stock worth $2,602,200 over the last quarter. 0.24% of the stock is owned by company insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Suncoast Equity Management lifted its holdings in Booking by 1.0% during the 1st quarter. Suncoast Equity Management now owns 13,337 shares of the business services provider’s stock worth $23,272,000 after purchasing an additional 126 shares in the last quarter. MUFG Securities EMEA plc lifted its stake in shares of Booking by 198.4% in the 4th quarter. MUFG Securities EMEA plc now owns 3,841 shares of the business services provider’s stock valued at $6,616,000 after purchasing an additional 2,554 shares during the period. Rational Advisors LLC lifted its stake in shares of Booking by 66.7% in the 1st quarter. Rational Advisors LLC now owns 1,839 shares of the business services provider’s stock valued at $3,209,000 after purchasing an additional 736 shares during the period. Horizon Investments LLC purchased a new position in Booking during the first quarter valued at $260,000. Finally, Ellis Investment Partners LLC raised its stake in Booking by 20,055.3% during the first quarter. Ellis Investment Partners LLC now owns 71,753 shares of the business services provider’s stock valued at $2,479,000 after buying an additional 71,397 shares during the last quarter. 92.89% of the stock is currently owned by institutional investors.

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.

Featured Story: What is Cost of Debt?

Analyst Recommendations for Booking (NASDAQ:BKNG)

Receive News & Ratings for Booking Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Booking and related companies with MarketBeat.com's FREE daily email newsletter.