Booking (NASDAQ:BKNG) Downgraded to “Hold” Rating by StockNews.com

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

A number of other analysts have also commented on the company. Benchmark boosted their price target on Booking from $5,000.00 to $5,900.00 and gave the company a “buy” rating in a report on Friday, February 21st. Citigroup upped their price target on Booking from $5,500.00 to $5,800.00 and gave the stock a “buy” rating in a research report on Friday, February 21st. Baird R W upgraded shares of Booking to a “strong-buy” rating in a report on Wednesday, November 27th. Wells Fargo & Company increased their target price on shares of Booking from $4,470.00 to $5,248.00 and gave the stock an “equal weight” rating in a report on Friday, February 21st. Finally, Cantor Fitzgerald lifted their price target on shares of Booking from $4,900.00 to $5,540.00 and gave the company a “neutral” rating in a research note on Friday, February 21st. Eleven research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, Booking has a consensus rating of “Moderate Buy” and an average target price of $5,370.43.

Booking Stock Performance

NASDAQ BKNG opened at $4,589.03 on Thursday. The stock has a market cap of $150.59 billion, a price-to-earnings ratio of 26.52, a PEG ratio of 1.71 and a beta of 1.40. The business has a 50 day simple moving average of $4,792.05 and a 200 day simple moving average of $4,689.82. Booking has a 52-week low of $3,180.00 and a 52-week high of $5,337.24.

Booking (NASDAQ:BKNG) last issued its quarterly earnings data on Thursday, February 20th. The business services provider reported $41.55 EPS for the quarter, topping analysts’ consensus estimates of $35.82 by $5.73. The business had revenue of $5.47 billion for 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%. On average, analysts predict that Booking will post 209.92 EPS for the current year.

Booking Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 7th will be given a dividend of $9.60 per share. This represents a $38.40 dividend on an annualized basis and a dividend yield of 0.84%. The ex-dividend date is Friday, March 7th. This is a positive change from Booking’s previous quarterly dividend of $8.75. Booking’s dividend payout ratio is presently 22.19%.

Institutional Investors Weigh In On Booking

Hedge funds and other institutional investors have recently made changes to their positions in the business. AEGON ASSET MANAGEMENT UK Plc bought a new position in Booking during the 4th quarter worth $25,000. New Wave Wealth Advisors LLC acquired a new stake in shares of Booking during the 4th quarter worth $25,000. Summit Securities Group LLC acquired a new stake in shares of Booking during the 4th quarter worth $30,000. Bernard Wealth Management Corp. acquired a new position in Booking in the fourth quarter valued at about $30,000. Finally, Promus Capital LLC bought a new stake in Booking during the fourth quarter worth about $35,000. 92.42% of the stock is currently owned by institutional investors and hedge funds.

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.