DA Davidson Comments on Booking Holdings Inc.’s Q2 2024 Earnings (NASDAQ:BKNG)

Booking Holdings Inc. (NASDAQ:BKNG) – Research analysts at DA Davidson issued their Q2 2024 earnings estimates for shares of Booking in a report released on Monday, May 6th. DA Davidson analyst T. White forecasts that the business services provider will post earnings per share of $38.69 for the quarter. DA Davidson currently has a “Buy” rating and a $4,150.00 target price on the stock. The consensus estimate for Booking’s current full-year earnings is $176.46 per share. DA Davidson also issued estimates for Booking’s FY2024 earnings at $179.21 EPS and FY2025 earnings at $201.33 EPS.

Several other equities research analysts also recently issued reports on BKNG. Susquehanna lifted their price target on shares of Booking from $3,600.00 to $4,100.00 and gave the stock a “positive” rating in a research note on Monday, February 26th. Erste Group Bank restated a “hold” rating on shares of Booking in a research note on Wednesday, March 13th. Seaport Res Ptn reiterated a “buy” rating on shares of Booking in a research note on Tuesday, February 20th. Benchmark restated a “hold” rating on shares of Booking in a research note on Friday, May 3rd. Finally, Wells Fargo & Company upped their target price on Booking from $3,435.00 to $3,494.00 and gave the company an “equal weight” rating in a research report on Friday, May 3rd. Ten equities research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $3,844.48.

Booking Stock Up 0.2 %

BKNG opened at $3,605.41 on Tuesday. The firm has a market capitalization of $122.33 billion, a P/E ratio of 27.04, a P/E/G ratio of 1.08 and a beta of 1.40. The firm’s 50 day moving average is $3,528.95 and its 200-day moving average is $3,418.38. Booking has a 52-week low of $2,456.93 and a 52-week high of $3,918.00.

Booking (NASDAQ:BKNG) last issued its earnings results on Thursday, May 2nd. The business services provider reported $20.39 earnings per share for the quarter, topping the consensus estimate of $14.03 by $6.36. The company had revenue of $4.42 billion during the quarter, compared to the consensus estimate of $4.25 billion. Booking had a negative return on equity of 288.35% and a net margin of 21.81%. The company’s revenue was up 16.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $11.60 earnings per share.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Meeder Advisory Services Inc. raised its position in shares of Booking by 15.9% during the first quarter. Meeder Advisory Services Inc. now owns 488 shares of the business services provider’s stock worth $1,770,000 after purchasing an additional 67 shares during the period. NorthRock Partners LLC increased its position in shares of Booking by 16.2% in the first quarter. NorthRock Partners LLC now owns 359 shares of the business services provider’s stock worth $1,302,000 after acquiring an additional 50 shares in the last quarter. Nixon Peabody Trust Co. raised its holdings in shares of Booking by 3.9% during the first quarter. Nixon Peabody Trust Co. now owns 5,185 shares of the business services provider’s stock valued at $18,811,000 after acquiring an additional 197 shares during the period. Atomi Financial Group Inc. lifted its position in shares of Booking by 9.1% in the 1st quarter. Atomi Financial Group Inc. now owns 938 shares of the business services provider’s stock valued at $3,403,000 after acquiring an additional 78 shares in the last quarter. Finally, Montag A & Associates Inc. lifted its position in shares of Booking by 30.2% in the 1st quarter. Montag A & Associates Inc. now owns 768 shares of the business services provider’s stock valued at $2,786,000 after acquiring an additional 178 shares in the last quarter. Institutional investors and hedge funds own 92.42% of the company’s stock.

Insider Activity at Booking

In related news, Director Radakovich Lynn Vojvodich sold 22 shares of the stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $3,583.07, for a total value of $78,827.54. Following the completion of the transaction, the director now directly owns 211 shares of the company’s stock, valued at approximately $756,027.77. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Booking news, Director Radakovich Lynn Vojvodich sold 22 shares of the company’s stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $3,583.07, for a total value of $78,827.54. Following the completion of the sale, the director now directly owns 211 shares in the company, valued at $756,027.77. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Glenn D. Fogel sold 4,302 shares of Booking stock in a transaction on Friday, March 15th. The shares were sold at an average price of $3,422.75, for a total value of $14,724,670.50. Following the transaction, the chief executive officer now owns 33,548 shares in the company, valued at $114,826,417. The disclosure for this sale can be found here. Insiders have sold a total of 5,424 shares of company stock worth $18,673,145 in the last ninety days. 0.12% of the stock is owned by insiders.

Booking Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 7th will be issued a $8.75 dividend. The ex-dividend date of this dividend is Friday, June 7th. This represents a $35.00 dividend on an annualized basis and a dividend yield of 0.97%. Booking’s dividend payout ratio (DPR) is presently 26.25%.

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.