$4.34 Billion in Sales Expected for The Priceline Group Inc. (PCLN) This Quarter
Equities analysts predict that The Priceline Group Inc. (NASDAQ:PCLN) will post sales of $4.34 billion for the current quarter, Zacks Investment Research reports. Nine analysts have issued estimates for The Priceline Group’s earnings, with the lowest sales estimate coming in at $4.28 billion and the highest estimate coming in at $4.41 billion. The Priceline Group posted sales of $3.69 billion during the same quarter last year, which suggests a positive year-over-year growth rate of 17.6%. The company is scheduled to report its next quarterly earnings results on Monday, November 6th.
According to Zacks, analysts expect that The Priceline Group will report full-year sales of $4.34 billion for the current financial year, with estimates ranging from $12.39 billion to $13.50 billion. For the next financial year, analysts expect that the business will post sales of $14.69 billion per share, with estimates ranging from $14.30 billion to $16.52 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that cover The Priceline Group.
The Priceline Group (NASDAQ:PCLN) last released its quarterly earnings results on Tuesday, August 8th. The business services provider reported $15.14 earnings per share for the quarter, beating the Zacks’ consensus estimate of $14.25 by $0.89. The Priceline Group had a return on equity of 33.10% and a net margin of 20.51%. The business had revenue of $3.02 billion during the quarter, compared to analyst estimates of $2.99 billion. During the same quarter last year, the company posted $13.93 EPS. The Priceline Group’s revenue for the quarter was up 18.3% on a year-over-year basis.
A number of equities research analysts recently commented on the company. Morgan Stanley lifted their price objective on The Priceline Group from $1,950.00 to $2,100.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 18th. Cowen and Company reaffirmed an “outperform” rating and set a $2,000.00 price objective on shares of The Priceline Group in a research note on Tuesday, May 23rd. Jefferies Group LLC reaffirmed a “buy” rating and set a $2,300.00 price objective (up from $2,250.00) on shares of The Priceline Group in a research note on Thursday, August 10th. Vetr raised The Priceline Group from a “hold” rating to a “buy” rating and set a $1,875.00 price objective for the company in a research note on Wednesday, May 17th. Finally, Benchmark Co. reaffirmed a “buy” rating and set a $2,050.00 price objective (up from $1,900.00) on shares of The Priceline Group in a research note on Sunday, May 14th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty-seven have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $1,924.32.
In related news, CEO Gillian Tans sold 123 shares of the company’s stock in a transaction dated Tuesday, August 15th. The stock was sold at an average price of $1,880.38, for a total transaction of $231,286.74. Following the sale, the chief executive officer now owns 5,799 shares in the company, valued at $10,904,323.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jan L. Docter sold 2,500 shares of the company’s stock in a transaction dated Thursday, August 10th. The stock was sold at an average price of $1,875.90, for a total value of $4,689,750.00. Following the sale, the director now owns 320 shares in the company, valued at approximately $600,288. The disclosure for this sale can be found here. Insiders have sold 2,867 shares of company stock worth $5,380,180 in the last quarter. 0.42% of the stock is currently owned by corporate insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Harvest Fund Management Co. Ltd bought a new stake in The Priceline Group during the second quarter worth about $101,000. Shine Investment Advisory Services Inc. bought a new stake in The Priceline Group in the second quarter valued at approximately $105,000. Capital Advisors Ltd. LLC bought a new stake in The Priceline Group in the second quarter valued at approximately $112,000. Webster Bank N. A. raised its stake in The Priceline Group by 24.0% in the first quarter. Webster Bank N. A. now owns 62 shares of the business services provider’s stock valued at $110,000 after buying an additional 12 shares during the period. Finally, Assetmark Inc. raised its stake in The Priceline Group by 12.5% in the first quarter. Assetmark Inc. now owns 63 shares of the business services provider’s stock valued at $112,000 after buying an additional 7 shares during the period. Institutional investors and hedge funds own 94.53% of the company’s stock.
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The Priceline Group (PCLN) opened at 1838.57 on Friday. The Priceline Group has a 52-week low of $1,402.67 and a 52-week high of $2,067.99. The company has a 50 day moving average price of $1,904.89 and a 200-day moving average price of $1,840.08. The firm has a market cap of $90.20 billion, a price-to-earnings ratio of 39.05 and a beta of 1.47.
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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