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

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

BKNG has been the subject of a number of other research reports. UBS Group lifted their price objective on Booking from $5,560.00 to $5,960.00 and gave the stock a “buy” rating in a research report on Friday, February 21st. Wedbush boosted their price objective on shares of Booking from $5,000.00 to $5,500.00 and gave the company an “outperform” rating in a research report on Monday, January 6th. Piper Sandler restated a “neutral” rating and set a $5,120.00 target price (up previously from $4,900.00) on shares of Booking in a research report on Friday, February 21st. Morgan Stanley lifted their target price on shares of Booking from $4,600.00 to $5,000.00 and gave the stock an “equal weight” rating in a research note on Monday, January 13th. Finally, Royal Bank of Canada increased their price target on Booking from $5,250.00 to $5,900.00 and gave the stock an “outperform” rating in a research note on Friday, February 21st. Ten investment analysts have rated the stock with a hold rating, twenty-one have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, Booking currently has an average rating of “Moderate Buy” and an average price target of $5,320.38.

Booking Trading Down 1.9 %

Shares of BKNG opened at $4,164.15 on Tuesday. Booking has a 12-month low of $3,180.00 and a 12-month high of $5,337.24. The stock has a market cap of $136.65 billion, a P/E ratio of 24.06, a PEG ratio of 1.71 and a beta of 1.37. The company has a 50-day moving average of $4,726.94 and a two-hundred day moving average of $4,758.36.

Booking (NASDAQ:BKNG) last issued its quarterly earnings data on Thursday, February 20th. The business services provider reported $41.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $35.82 by $5.73. The firm had revenue of $5.47 billion during the quarter, compared to the consensus estimate of $5.18 billion. Booking had a negative return on equity of 159.34% and a net margin of 24.78%. As a group, analysts forecast that Booking will post 209.92 EPS for the current fiscal year.

Booking Increases Dividend

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

Hedge Funds Weigh In On Booking

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. AEGON ASSET MANAGEMENT UK Plc acquired a new position in shares of Booking in the fourth quarter worth about $25,000. New Wave Wealth Advisors LLC acquired a new position in shares of Booking in the 4th quarter valued at approximately $25,000. Summit Securities Group LLC purchased a new position in shares of Booking during the 4th quarter valued at approximately $30,000. Bernard Wealth Management Corp. acquired a new stake in shares of Booking during the fourth quarter worth approximately $30,000. Finally, Promus Capital LLC acquired a new stake in shares of Booking during the fourth quarter worth approximately $35,000. 92.42% of the stock is owned by hedge funds and other institutional investors.

Booking Company Profile

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.