Booking (NASDAQ:BKNG) Price Target Cut to $4,850.00 by Analysts at JPMorgan Chase & Co.

Booking (NASDAQ:BKNG) had its price objective reduced by JPMorgan Chase & Co. from $5,750.00 to $4,850.00 in a report issued on Tuesday morning,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the business services provider’s stock.

Several other research analysts have also commented on BKNG. StockNews.com raised shares of Booking from a “hold” rating to a “buy” rating in a report on Friday, March 28th. Citigroup upped their target price on Booking from $5,500.00 to $5,800.00 and gave the company a “buy” rating in a report on Friday, February 21st. Piper Sandler reissued a “neutral” rating and issued a $5,120.00 price target (up previously from $4,900.00) on shares of Booking in a report on Friday, February 21st. BMO Capital Markets boosted their price objective on Booking from $5,155.00 to $5,900.00 and gave the company an “outperform” rating in a research report on Friday, February 21st. Finally, Cantor Fitzgerald increased their target price on Booking from $4,900.00 to $5,540.00 and gave the stock a “neutral” rating in a research report on Friday, February 21st. Ten research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and two have issued 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 target price of $5,320.38.

Booking Stock Down 1.9 %

NASDAQ:BKNG opened at $4,164.15 on Tuesday. The company has a market cap of $136.65 billion, a PE ratio of 24.06, a P/E/G ratio of 1.71 and a beta of 1.37. The business’s 50 day moving average is $4,726.94 and its two-hundred day moving average is $4,758.36. Booking has a 52 week low of $3,180.00 and a 52 week high of $5,337.24.

Booking (NASDAQ:BKNG) last posted its quarterly earnings results on Thursday, February 20th. The business services provider reported $41.55 earnings per share (EPS) for the quarter, beating the consensus estimate 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 negative return on equity of 159.34% and a net margin of 24.78%. As a group, sell-side analysts expect that Booking will post 209.92 EPS for the current fiscal year.

Booking Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 7th were issued a $9.60 dividend. This represents a $38.40 dividend on an annualized basis and a yield of 0.92%. This is an increase from Booking’s previous quarterly dividend of $8.75. The ex-dividend date of this dividend was Friday, March 7th. Booking’s dividend payout ratio is presently 22.19%.

Hedge Funds Weigh In On Booking

Several hedge funds have recently made changes to their positions in BKNG. AEGON ASSET MANAGEMENT UK Plc bought a new stake in Booking during the fourth quarter worth approximately $25,000. New Wave Wealth Advisors LLC bought a new stake in shares of Booking during the 4th quarter worth $25,000. Summit Securities Group LLC acquired a new position in shares of Booking in the 4th quarter worth $30,000. Bernard Wealth Management Corp. acquired a new stake in shares of Booking during the fourth quarter worth $30,000. Finally, Promus Capital LLC purchased a new stake in shares of Booking during the fourth quarter valued at $35,000. Institutional investors and hedge funds own 92.42% of the company’s stock.

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.