The Priceline Group Inc. (PCLN) Posts Earnings Results, Beats Estimates By $0.89 EPS
The Priceline Group Inc. (NASDAQ:PCLN) released its earnings results on Tuesday. The business services provider reported $15.14 EPS for the quarter, beating the Zacks’ consensus estimate of $14.25 by $0.89, Bloomberg Earnings reports. The company had revenue of $3.02 billion during the quarter, compared to analysts’ expectations of $2.99 billion. The Priceline Group had a return on equity of 33.94% and a net margin of 20.12%. The firm’s revenue for the quarter was up 18.3% compared to the same quarter last year. During the same quarter last year, the business posted $13.93 EPS. The Priceline Group updated its Q3 guidance to $32.40-34.10 EPS.
The Priceline Group (NASDAQ:PCLN) traded up 0.31% during trading on Tuesday, reaching $2049.00. The company had a trading volume of 830,572 shares. 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 has a 52 week low of $1,392.44 and a 52 week high of $2,067.99. The firm has a market capitalization of $100.69 billion, a P/E ratio of 46.26 and a beta of 1.42.
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In other The Priceline Group news, CEO Gillian Tans sold 122 shares of the stock in a transaction dated Thursday, June 15th. The stock was sold at an average price of $1,814.00, for a total transaction of $221,308.00. Following the sale, the chief executive officer now directly owns 6,044 shares of the company’s stock, valued at approximately $10,963,816. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jan L. Docter sold 1,500 shares of the stock in a transaction dated Tuesday, May 30th. The stock was sold at an average price of $1,857.67, for a total value of $2,786,505.00. Following the sale, the director now directly owns 346 shares in the company, valued at $642,753.82. The disclosure for this sale can be found here. Insiders have sold a total of 1,744 shares of company stock worth $3,245,648 over the last ninety days. 0.42% of the stock is owned by insiders.
Large investors have recently made changes to their positions in the company. Harbour Capital Advisors LLC increased its stake in shares of The Priceline Group by 210,283.2% in the second quarter. Harbour Capital Advisors LLC now owns 978,282 shares of the business services provider’s stock worth $523,000 after buying an additional 977,817 shares during the last quarter. Renaissance Technologies LLC purchased a new stake in The Priceline Group during the first quarter valued at approximately $358,128,000. C WorldWide Group Holding A S purchased a new stake in The Priceline Group during the first quarter valued at approximately $189,324,000. Vanguard Group Inc. increased its stake in The Priceline Group by 3.0% in the first quarter. Vanguard Group Inc. now owns 3,204,680 shares of the business services provider’s stock valued at $5,704,234,000 after buying an additional 93,992 shares in the last quarter. Finally, Schroder Investment Management Group increased its stake in The Priceline Group by 689.5% in the first quarter. Schroder Investment Management Group now owns 85,556 shares of the business services provider’s stock valued at $153,077,000 after buying an additional 74,719 shares in the last quarter. 95.01% of the stock is currently owned by institutional investors.
PCLN has been the subject of a number of research analyst reports. Benchmark Co. restated a “buy” rating and issued a $2,050.00 target price (up previously from $1,900.00) on shares of The Priceline Group in a research note on Sunday, May 14th. Deutsche Bank AG raised their price objective on The Priceline Group from $1,725.00 to $2,000.00 and gave the company a “hold” rating in a research report on Monday, May 8th. Raymond James Financial, Inc. reaffirmed an “outperform” rating and set a $2,070.00 price objective (up previously from $1,915.00) on shares of The Priceline Group in a research report on Monday, May 8th. Macquarie set a $1,970.00 price objective on The Priceline Group and gave the company a “buy” rating in a research report on Tuesday, April 18th. Finally, Goldman Sachs Group, Inc. (The) raised their price objective on The Priceline Group from $1,750.00 to $1,850.00 and gave the company a “neutral” rating in a research report on Wednesday, May 10th. One analyst has rated the stock with a sell rating, five have given a hold rating, twenty-six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The Priceline Group currently has an average rating of “Buy” and an average price target of $1,899.45.
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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