The Priceline Group Inc. (NASDAQ:PCLN) Releases Q3 Earnings Guidance
The Priceline Group Inc. (NASDAQ:PCLN) updated its third quarter earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $32.40-34.10 for the period, compared to the Thomson Reuters consensus estimate of $34.17.
The Priceline Group Inc. (NASDAQ PCLN) traded up 0.31% during trading on Tuesday, reaching $2049.00. 823,200 shares of the company’s stock were exchanged. The firm has a market capitalization of $100.69 billion, a price-to-earnings ratio of 46.26 and a beta of 1.42. The Priceline Group Inc. has a 52 week low of $1,392.44 and a 52 week high of $2,067.99. The stock has a 50-day moving average price of $1,937.58 and a 200 day moving average price of $1,795.67.
The Priceline Group (NASDAQ:PCLN) last posted its quarterly earnings data on Tuesday, August 8th. The business services provider reported $15.14 earnings per share for the quarter, beating analysts’ consensus estimates of $14.27 by $0.87. The Priceline Group had a net margin of 20.12% and a return on equity of 33.94%. The firm had revenue of $3.02 billion for the quarter, compared to analyst estimates of $2.99 billion. During the same period last year, the firm posted $13.93 EPS. The Priceline Group’s quarterly revenue was up 18.3% on a year-over-year basis. Equities research analysts forecast that The Priceline Group Inc. will post $74.20 earnings per share for the current fiscal year.
PCLN has been the topic of several research analyst reports. Macquarie set a $1,970.00 target price on shares of The Priceline Group and gave the stock a buy rating in a research report on Tuesday, April 18th. Needham & Company LLC restated a buy rating and set a $2,200.00 target price (up from $1,800.00) on shares of The Priceline Group in a research report on Wednesday, May 3rd. Credit Suisse Group set a $2,020.00 target price on shares of The Priceline Group and gave the stock a buy rating in a research report on Wednesday, May 10th. UBS AG restated a buy rating and set a $2,100.00 target price (up from $1,870.00) on shares of The Priceline Group in a research report on Thursday, May 11th. Finally, Benchmark Co. restated a buy rating and set a $2,050.00 target price (up from $1,900.00) on shares of The Priceline Group in a research report on Sunday, May 14th. One analyst has rated the stock with a sell rating, five have given a hold rating, twenty-six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The Priceline Group has an average rating of Buy and an average target price of $1,899.45.
In related news, CEO Gillian Tans sold 122 shares of the stock in a transaction that occurred on Friday, July 14th. The shares were sold at an average price of $1,949.47, for a total transaction of $237,835.34. Following the completion of the sale, the chief executive officer now owns 5,922 shares of the company’s stock, valued at approximately $11,544,761.34. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Jan L. Docter sold 1,500 shares of the stock in a transaction that occurred on Tuesday, May 30th. The stock was sold at an average price of $1,857.67, for a total transaction of $2,786,505.00. Following the sale, the director now directly owns 346 shares of the company’s stock, valued at approximately $642,753.82. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,744 shares of company stock valued at $3,245,648. Corporate insiders own 0.42% of the company’s stock.
The 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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