The Priceline Group Inc. (NASDAQ:PCLN) – Stock analysts at SunTrust Banks reduced their Q4 2017 earnings estimates for shares of The Priceline Group in a research note issued on Monday. SunTrust Banks analyst N. Khan now expects that the business services provider will earn $13.73 per share for the quarter, down from their prior estimate of $15.29. SunTrust Banks has a “Buy” rating and a $2,200.00 price objective on the stock. SunTrust Banks also issued estimates for The Priceline Group’s FY2018 earnings at $82.65 EPS, FY2019 earnings at $94.75 EPS, FY2020 earnings at $108.19 EPS and FY2021 earnings at $122.82 EPS.
The Priceline Group (NASDAQ:PCLN) last announced its quarterly earnings results on Monday, November 6th. The business services provider reported $35.22 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $34.31 by $0.91. The Priceline Group had a return on equity of 33.02% and a net margin of 29.20%. The business had revenue of $4.43 billion during the quarter, compared to analyst estimates of $4.34 billion. During the same period in the previous year, the company earned $29.69 EPS. The firm’s revenue was up 20.1% on a year-over-year basis.
PCLN has been the subject of a number of other reports. Morgan Stanley raised their price objective on The Priceline Group from $1,950.00 to $2,100.00 and gave the company an “overweight” rating in a research report on Tuesday, July 18th. Jefferies Group LLC restated a “buy” rating and set a $2,300.00 price objective (up previously from $2,250.00) on shares of The Priceline Group in a research note on Thursday, August 10th. Oppenheimer Holdings, Inc. reaffirmed a “buy” rating and issued a $1,950.00 target price (down previously from $2,100.00) on shares of The Priceline Group in a report on Tuesday. UBS AG reissued a “buy” rating and set a $2,100.00 price objective on shares of The Priceline Group in a report on Thursday, August 10th. Finally, MKM Partners reissued a “buy” rating and set a $2,225.00 price objective (up previously from $2,050.00) on shares of The Priceline Group in a report on Monday, August 14th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the stock. The Priceline Group has a consensus rating of “Buy” and a consensus target price of $2,020.52.
Shares of The Priceline Group (PCLN) opened at $1,697.25 on Thursday. The company has a current ratio of 2.52, a quick ratio of 2.20 and a debt-to-equity ratio of 0.68. The stock has a market capitalization of $83,061.35, a P/E ratio of 22.88, a PEG ratio of 1.35 and a beta of 1.43. The Priceline Group has a 1 year low of $1,459.49 and a 1 year high of $2,067.99.
Hedge funds have recently bought and sold shares of the business. Mackenzie Financial Corp acquired a new stake in The Priceline Group during the 1st quarter worth about $34,546,000. Swiss National Bank boosted its stake in The Priceline Group by 2.7% in the 2nd quarter. Swiss National Bank now owns 179,652 shares of the business services provider’s stock valued at $336,043,000 after buying an additional 4,800 shares in the last quarter. State of New Jersey Common Pension Fund D acquired a new stake in The Priceline Group in the 3rd quarter valued at $36,616,000. Pacer Advisors Inc. boosted its stake in The Priceline Group by 4.4% in the second quarter. Pacer Advisors Inc. now owns 1,647 shares of the business services provider’s stock worth $3,081,000 after purchasing an additional 69 shares in the last quarter. Finally, Norinchukin Bank The boosted its stake in The Priceline Group by 4.0% in the second quarter. Norinchukin Bank The now owns 5,942 shares of the business services provider’s stock worth $11,115,000 after purchasing an additional 228 shares in the last quarter. Institutional investors own 94.44% of the company’s stock.
In other news, CEO Gillian Tans sold 122 shares of the stock in a transaction that occurred on Monday, October 16th. The stock was sold at an average price of $1,940.00, for a total transaction of $236,680.00. Following the completion of the transaction, the chief executive officer now directly owns 5,555 shares in the company, valued at approximately $10,776,700. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Over the last quarter, insiders have sold 367 shares of company stock valued at $693,175. Company insiders own 0.24% of the company’s stock.
About The 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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