Priceline Group Inc (NASDAQ:PCLN) – Equities research analysts at Oppenheimer lifted their FY2018 earnings estimates for shares of Priceline Group in a research report issued to clients and investors on Tuesday, according to Zacks Investment Research. Oppenheimer analyst J. Kelly now anticipates that the business services provider will post earnings per share of $83.86 for the year, up from their prior forecast of $83.35. Oppenheimer has a “Outperform” rating and a $2,100.00 price objective on the stock. Oppenheimer also issued estimates for Priceline Group’s FY2020 earnings at $104.39 EPS.
Several other research analysts have also recently commented on PCLN. Wells Fargo & Co boosted their price target on Priceline Group from $1,800.00 to $1,850.00 and gave the stock a “market perform” rating in a research note on Tuesday, January 30th. Zacks Investment Research cut Priceline Group from a “buy” rating to a “hold” rating in a research note on Wednesday, January 10th. Vetr upgraded Priceline Group from a “hold” rating to a “buy” rating and set a $2,000.67 price target on the stock in a research note on Tuesday, January 30th. Guggenheim cut Priceline Group from a “buy” rating to a “neutral” rating in a research note on Tuesday, November 7th. Finally, Citigroup reiterated a “buy” rating and issued a $2,050.00 price target on shares of Priceline Group in a research note on Tuesday, November 7th. Ten investment analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $2,025.31.
Shares of Priceline Group (NASDAQ PCLN) traded down $44.59 during midday trading on Thursday, hitting $1,859.10. The stock had a trading volume of 507,892 shares, compared to its average volume of 406,087. The company has a debt-to-equity ratio of 0.68, a current ratio of 2.52 and a quick ratio of 2.52. Priceline Group has a 52 week low of $1,571.32 and a 52 week high of $2,067.99. The stock has a market capitalization of $91,210.00, a P/E ratio of 26.05, a price-to-earnings-growth ratio of 1.38 and a beta of 1.38.
Priceline Group (NASDAQ:PCLN) last issued its earnings results on Monday, November 6th. The business services provider reported $35.22 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate 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 the consensus estimate of $4.34 billion. During the same quarter in the prior year, the business earned $29.69 earnings per share. The company’s revenue was up 20.1% compared to the same quarter last year.
In other news, CEO Gillian Tans sold 123 shares of the 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 transaction of $211,040.94. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Jan L. Docter sold 1,200 shares of the stock in a transaction that occurred on Wednesday, November 22nd. The stock was sold at an average price of $1,764.52, for a total value of $2,117,424.00. Following the sale, the director now owns 142 shares in the company, valued at $250,561.84. The disclosure for this sale can be found here. Insiders have sold a total of 1,567 shares of company stock worth $2,780,310 over the last quarter. Insiders own 0.24% of the company’s stock.
A number of hedge funds have recently modified their holdings of the stock. TCI Wealth Advisors Inc. grew its holdings in Priceline Group by 8.7% in the 2nd quarter. TCI Wealth Advisors Inc. now owns 75 shares of the business services provider’s stock worth $140,000 after buying an additional 6 shares in the last quarter. Covington Capital Management grew its holdings in Priceline Group by 1.2% in the 2nd quarter. Covington Capital Management now owns 858 shares of the business services provider’s stock worth $1,605,000 after buying an additional 10 shares in the last quarter. Optimum Investment Advisors grew its holdings in Priceline Group by 1.8% in the 2nd quarter. Optimum Investment Advisors now owns 553 shares of the business services provider’s stock worth $1,034,000 after buying an additional 10 shares in the last quarter. Bancorpsouth Inc. grew its holdings in Priceline Group by 13.3% in the 2nd quarter. Bancorpsouth Inc. now owns 128 shares of the business services provider’s stock worth $240,000 after buying an additional 15 shares in the last quarter. Finally, Comerica Securities Inc. grew its holdings in Priceline Group by 3.2% in the 2nd quarter. Comerica Securities Inc. now owns 636 shares of the business services provider’s stock worth $1,190,000 after buying an additional 20 shares in the last quarter. 94.72% of the stock is owned by institutional investors and hedge funds.
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About Priceline Group
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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