StockNews.com Downgrades Booking (NASDAQ:BKNG) to Hold

StockNews.com downgraded shares of Booking (NASDAQ:BKNG) from a buy rating to a hold rating in a report released on Monday.

A number of other research analysts have also recently commented on BKNG. DA Davidson upped their target price on Booking from $5,005.00 to $5,800.00 and gave the company a “buy” rating in a research note on Friday, February 21st. Piper Sandler reiterated a “neutral” rating and issued a $5,120.00 target price (up previously from $4,900.00) on shares of Booking in a research note on Friday, February 21st. Truist Financial lifted their target price on Booking from $4,100.00 to $4,700.00 and gave the stock a “hold” rating in a research report on Thursday, November 7th. Susquehanna upped their price target on shares of Booking from $4,100.00 to $5,500.00 and gave the stock a “positive” rating in a report on Friday, November 1st. Finally, Argus lowered shares of Booking from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 31st. Ten analysts have rated the stock with a hold rating, twenty have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Booking currently has a consensus rating of “Moderate Buy” and an average target price of $5,370.43.

Booking Stock Up 0.0 %

BKNG opened at $5,034.55 on Monday. The firm has a 50-day simple moving average of $4,900.68 and a two-hundred day simple moving average of $4,594.68. Booking has a 52 week low of $3,180.00 and a 52 week high of $5,337.24. The company has a market capitalization of $165.18 billion, a PE ratio of 29.09, a price-to-earnings-growth ratio of 1.71 and a beta of 1.39.

Booking (NASDAQ:BKNG) last released its 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. The firm had revenue of $5.47 billion during the quarter, compared to analyst estimates of $5.18 billion. Booking had a net margin of 24.78% and a negative return on equity of 159.34%. As a group, sell-side analysts expect 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. Stockholders of record on Friday, March 7th will be given a dividend of $9.60 per share. The ex-dividend date is Friday, March 7th. This is a boost from Booking’s previous quarterly dividend of $8.75. This represents a $38.40 annualized dividend and a dividend yield of 0.76%. Booking’s dividend payout ratio (DPR) is 20.23%.

Institutional Investors Weigh In On Booking

Several hedge funds and other institutional investors have recently bought and sold shares of the business. AEGON ASSET MANAGEMENT UK Plc purchased a new position in Booking in the 4th quarter worth about $25,000. New Wave Wealth Advisors LLC bought a new stake in Booking during the fourth quarter valued at about $25,000. Summit Securities Group LLC acquired a new stake in Booking in the 4th quarter valued at approximately $30,000. Bernard Wealth Management Corp. bought a new position in Booking during the fourth quarter worth $30,000. Finally, Valley National Advisers Inc. increased its holdings in shares of Booking by 600.0% during the 4th quarter. Valley National Advisers Inc. now owns 7 shares of the business services provider’s stock worth $36,000 after purchasing an additional 6 shares during the period. 92.42% 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.