Booking (NASDAQ:BKNG) Stock Rating Lowered by Argus

Argus lowered shares of Booking (NASDAQ:BKNG) from a strong-buy rating to a hold rating in a research note released on Thursday morning, Zacks.com reports.

Several other equities analysts have also recently weighed in on the company. Bank of America raised their price objective on Booking from $4,448.00 to $4,850.00 and gave the company a “neutral” rating in a research note on Thursday. Jefferies Financial Group raised their price objective on Booking from $4,200.00 to $4,300.00 and gave the company a “hold” rating in a research note on Tuesday, October 22nd. Wedbush raised their price objective on Booking from $3,900.00 to $4,750.00 and gave the company an “outperform” rating in a research note on Friday, October 25th. The Goldman Sachs Group raised their price objective on Booking from $3,940.00 to $4,510.00 and gave the company a “neutral” rating in a research note on Friday. Finally, StockNews.com lowered Booking from a “buy” rating to a “hold” rating in a report on Friday. Twelve analysts have rated the stock with a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Booking presently has a consensus rating of “Moderate Buy” and a consensus price target of $4,680.18.

Booking Stock Performance

Shares of Booking stock traded up $72.86 on Thursday, reaching $4,749.11. 519,752 shares of the company’s stock were exchanged, compared to its average volume of 247,428. The company has a market capitalization of $159.19 billion, a P/E ratio of 32.23, a price-to-earnings-growth ratio of 1.45 and a beta of 1.40. Booking has a 52 week low of $2,756.39 and a 52 week high of $4,856.60. The firm’s 50-day moving average is $4,136.96 and its two-hundred day moving average is $3,880.99.

Booking (NASDAQ:BKNG) last posted its quarterly earnings results on Wednesday, October 30th. The business services provider reported $83.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $77.94 by $5.95. Booking had a negative return on equity of 165.63% and a net margin of 21.85%. The firm had revenue of $7.99 billion for the quarter, compared to analysts’ expectations of $7.63 billion. On average, analysts expect that Booking will post 177.37 EPS for the current fiscal year.

Booking Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 6th will be issued a $8.75 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $35.00 annualized dividend and a dividend yield of 0.74%. Booking’s payout ratio is currently 23.75%.

Insider Buying and Selling at Booking

In related news, insider Paulo Pisano sold 100 shares of the firm’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $3,887.61, for a total transaction of $388,761.00. Following the transaction, the insider now directly owns 3,787 shares of the company’s stock, valued at approximately $14,722,379.07. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.12% of the company’s stock.

Hedge Funds Weigh In On Booking

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Jamison Private Wealth Management Inc. bought a new stake in shares of Booking in the 3rd quarter worth approximately $25,000. Grove Bank & Trust grew its position in shares of Booking by 133.3% in the 2nd quarter. Grove Bank & Trust now owns 7 shares of the business services provider’s stock worth $28,000 after buying an additional 4 shares during the last quarter. POM Investment Strategies LLC bought a new stake in shares of Booking in the 2nd quarter worth approximately $28,000. Kings Path Partners LLC bought a new stake in shares of Booking in the 2nd quarter worth approximately $28,000. Finally, West Financial Advisors LLC bought a new stake in shares of Booking in the 3rd quarter worth approximately $29,000. 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.