Jefferies Group Equities Analysts Decrease Earnings Estimates for Priceline Group Inc (NASDAQ:PCLN)

Priceline Group Inc (NASDAQ:PCLN) – Jefferies Group decreased their FY2017 EPS estimates for shares of Priceline Group in a research note issued to investors on Sunday, according to Zacks Investment Research. Jefferies Group analyst B. Thill now forecasts that the business services provider will earn $75.04 per share for the year, down from their previous estimate of $75.20. Jefferies Group also issued estimates for Priceline Group’s Q4 2017 earnings at $14.75 EPS.

Priceline Group (NASDAQ:PCLN) last announced its quarterly earnings results on Monday, November 6th. The business services provider reported $35.22 EPS for the quarter, beating analysts’ consensus estimates of $34.31 by $0.91. Priceline Group had a return on equity of 33.02% and a net margin of 29.20%. The company had revenue of $4.43 billion during the quarter, compared to analyst estimates of $4.34 billion. During the same period in the prior year, the company earned $29.69 earnings per share. The firm’s revenue was up 20.1% on a year-over-year basis.

A number of other equities analysts have also commented on PCLN. SunTrust Banks reissued a “buy” rating and set a $2,200.00 price target on shares of Priceline Group in a research note on Wednesday, October 4th. Barclays reissued a “buy” rating and set a $2,150.00 price target on shares of Priceline Group in a research note on Wednesday, October 11th. Deutsche Bank reissued a “hold” rating and set a $2,050.00 price target on shares of Priceline Group in a research note on Tuesday, October 24th. Piper Jaffray Companies reaffirmed an “overweight” rating and issued a $2,000.00 price objective on shares of Priceline Group in a research note on Tuesday, November 7th. Finally, Guggenheim lowered Priceline Group from a “buy” rating to a “neutral” rating in a research note on Tuesday, November 7th. Ten research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company’s stock. Priceline Group currently has an average rating of “Buy” and an average price target of $2,025.31.

Shares of Priceline Group (NASDAQ PCLN) traded down $9.48 during trading on Tuesday, reaching $1,912.05. The company had a trading volume of 452,770 shares, compared to its average volume of 453,139. Priceline Group has a 52 week low of $1,562.86 and a 52 week high of $2,067.99. The company has a market capitalization of $93,800.00, a price-to-earnings ratio of 26.79, a PEG ratio of 1.43 and a beta of 1.39. The company has a debt-to-equity ratio of 0.68, a quick ratio of 2.52 and a current ratio of 2.52.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. State of New Jersey Common Pension Fund D purchased a new position in shares of Priceline Group in the 3rd quarter valued at $36,616,000. Norinchukin Bank The increased its holdings 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 acquiring an additional 228 shares during the period. Equitec Proprietary Markets LLC purchased a new position in shares of Priceline Group in the 3rd quarter valued at $549,000. Troy Asset Management Ltd purchased a new position in shares of Priceline Group in the 3rd quarter valued at $3,295,000. Finally, Profund Advisors LLC increased its holdings in shares of Priceline Group by 9.8% in the 2nd quarter. Profund Advisors LLC now owns 4,431 shares of the business services provider’s stock valued at $8,288,000 after acquiring an additional 395 shares during the period. Institutional investors own 94.72% of the company’s stock.

In other Priceline Group news, Director Jan L. Docter sold 1,200 shares of the firm’s stock in a transaction on Wednesday, November 22nd. The stock was sold at an average price of $1,764.52, for a total transaction of $2,117,424.00. Following the transaction, the director now directly owns 142 shares in the company, valued at approximately $250,561.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Gillian Tans sold 123 shares of the firm’s stock in a transaction 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 disclosure for this sale can be found here. Over the last quarter, insiders sold 1,567 shares of company stock worth $2,780,310. Company insiders own 0.24% of the company’s stock.

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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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