Booking (NASDAQ:BKNG) Price Target Raised to $5,820.00

Booking (NASDAQ:BKNG) had its price objective hoisted by Bank of America from $5,580.00 to $5,820.00 in a report released on Monday morning,Benzinga reports. Bank of America currently has a neutral rating on the business services provider’s stock.

A number of other equities analysts have also commented on BKNG. Benchmark raised their price objective on shares of Booking from $5,000.00 to $5,900.00 and gave the stock a “buy” rating in a research note on Friday, February 21st. Wall Street Zen upgraded Booking from a “hold” rating to a “buy” rating in a research report on Wednesday, April 30th. B. Riley lifted their target price on Booking from $6,000.00 to $6,100.00 and gave the company a “buy” rating in a research note on Wednesday, April 30th. Royal Bank of Canada reissued an “outperform” rating and issued a $5,900.00 price target on shares of Booking in a research report on Wednesday, April 30th. Finally, BMO Capital Markets raised their price target on shares of Booking from $5,000.00 to $5,700.00 and gave the stock an “outperform” rating in a report on Wednesday, April 30th. Ten research analysts have rated the stock with a hold rating, twenty have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $5,388.37.

Booking Price Performance

Shares of NASDAQ:BKNG opened at $5,466.28 on Monday. The stock has a market cap of $177.87 billion, a price-to-earnings ratio of 31.59, a PEG ratio of 1.71 and a beta of 1.41. Booking has a 12 month low of $3,180.00 and a 12 month high of $5,639.70. The stock’s 50 day moving average price is $5,051.69 and its 200 day moving average price is $4,941.07.

Booking (NASDAQ:BKNG) last released its earnings results on Tuesday, April 29th. The business services provider reported $24.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $17.57 by $7.24. Booking had a negative return on equity of 159.34% and a net margin of 24.78%. The firm had revenue of $4.76 billion for the quarter, compared to analyst estimates of $4.58 billion. During the same period in the previous year, the company earned $20.39 earnings per share. Booking’s revenue was up 7.9% compared to the same quarter last year. On average, sell-side analysts expect that Booking will post 209.92 EPS for the current year.

Booking Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 6th will be given a dividend of $9.60 per share. The ex-dividend date of this dividend is Friday, June 6th. This represents a $38.40 annualized dividend and a dividend yield of 0.70%. Booking’s dividend payout ratio is presently 23.89%.

Institutional Trading of Booking

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BKNG. Brighton Jones LLC increased its position in Booking by 34.9% during the fourth quarter. Brighton Jones LLC now owns 251 shares of the business services provider’s stock worth $1,249,000 after acquiring an additional 65 shares during the period. Revolve Wealth Partners LLC bought a new stake in shares of Booking in the fourth quarter valued at about $209,000. Thompson Investment Management Inc. acquired a new stake in Booking during the fourth quarter worth about $75,000. Quotient Wealth Partners LLC increased its stake in Booking by 11.5% during the fourth quarter. Quotient Wealth Partners LLC now owns 107 shares of the business services provider’s stock valued at $533,000 after acquiring an additional 11 shares during the period. Finally, Angeles Wealth Management LLC increased its stake in Booking by 2.6% during the fourth quarter. Angeles Wealth Management LLC now owns 233 shares of the business services provider’s stock valued at $1,158,000 after acquiring an additional 6 shares during the period. Institutional investors and hedge funds 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.