Priceline Group Inc (PCLN) Expected to Post Quarterly Sales of $2.69 Billion
Wall Street analysts expect that Priceline Group Inc (NASDAQ:PCLN) will report $2.69 billion in sales for the current quarter, Zacks Investment Research reports. Nine analysts have provided estimates for Priceline Group’s earnings, with the lowest sales estimate coming in at $2.65 billion and the highest estimate coming in at $2.74 billion. Priceline Group reported sales of $2.35 billion during the same quarter last year, which indicates a positive year-over-year growth rate of 14.5%. The business is scheduled to issue its next quarterly earnings report on Monday, February 26th.
On average, analysts expect that Priceline Group will report full year sales of $2.69 billion for the current fiscal year, with estimates ranging from $12.39 billion to $12.72 billion. For the next financial year, analysts forecast that the company will post sales of $14.51 billion per share, with estimates ranging from $13.96 billion to $15.27 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Priceline Group.
Priceline Group (NASDAQ:PCLN) last posted its quarterly earnings results on Monday, November 6th. The business services provider reported $35.22 EPS for the quarter, beating the consensus estimate of $34.31 by $0.91. The company had revenue of $4.43 billion during the quarter, compared to analysts’ expectations of $4.34 billion. Priceline Group had a return on equity of 56.41% and a net margin of 38.80%. The firm’s revenue was up 20.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $29.69 EPS.
A number of brokerages have recently issued reports on PCLN. Royal Bank Of Canada boosted their target price on Priceline Group from $2,000.00 to $2,050.00 and gave the stock an “outperform” rating in a report on Wednesday, August 9th. KeyCorp reiterated a “hold” rating on shares of Priceline Group in a report on Thursday, November 16th. Raymond James Financial, Inc. reiterated a “buy” rating on shares of Priceline Group in a report on Wednesday, August 9th. Barclays PLC reiterated an “overweight” rating on shares of Priceline Group in a report on Wednesday, August 9th. Finally, Macquarie boosted their target price on Priceline Group from $2,000.00 to $2,200.00 and gave the stock a “positive” rating in a report on Wednesday, August 9th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $2,020.52.
Shares of Priceline Group (NASDAQ PCLN) opened at $1,759.19 on Friday. The company has a current ratio of 2.52, a quick ratio of 2.52 and a debt-to-equity ratio of 0.68. Priceline Group has a fifty-two week low of $1,459.49 and a fifty-two week high of $2,067.99. The stock has a market capitalization of $86,159.68, a PE ratio of 23.73, a PEG ratio of 1.40 and a beta of 1.43.
In other Priceline Group news, CEO Gillian Tans sold 123 shares of the company’s stock in a transaction that occurred on Wednesday, November 15th. The stock was sold at an average price of $1,715.78, for a total value of $211,040.94. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In the last 90 days, insiders sold 367 shares of company stock valued at $672,929. 0.24% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Swiss National Bank raised its position in shares of Priceline Group by 2.7% in the 2nd quarter. Swiss National Bank now owns 179,652 shares of the business services provider’s stock valued at $336,043,000 after purchasing an additional 4,800 shares in the last quarter. State of New Jersey Common Pension Fund D acquired a new position in shares of Priceline Group in the 3rd quarter valued at approximately $36,616,000. Pacer Advisors Inc. raised its position in shares of Priceline Group by 4.4% in the 2nd quarter. Pacer Advisors Inc. now owns 1,647 shares of the business services provider’s stock valued at $3,081,000 after purchasing an additional 69 shares in the last quarter. Norinchukin Bank The raised its position in shares of Priceline Group by 4.0% in the 2nd quarter. Norinchukin Bank The now owns 5,942 shares of the business services provider’s stock valued at $11,115,000 after purchasing an additional 228 shares in the last quarter. Finally, Equitec Proprietary Markets LLC acquired a new position in shares of Priceline Group in the 3rd quarter valued at approximately $549,000. Hedge funds and other institutional investors own 95.22% of the company’s stock.
Priceline Group Company Profile
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.
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