The Priceline Group Inc. (NASDAQ:PCLN) Expected to Earn Q3 2017 Earnings of $36.33 Per Share
The Priceline Group Inc. (NASDAQ:PCLN) – Research analysts at Jefferies Group raised their Q3 2017 earnings estimates for shares of The Priceline Group in a note issued to investors on Wednesday. Jefferies Group analyst B. Fitzgerald now anticipates that the business services provider will earn $36.33 per share for the quarter, up from their prior estimate of $35.24. Jefferies Group currently has a “Buy” rating and a $2,300.00 target price on the stock. Jefferies Group also issued estimates for The Priceline Group’s FY2017 earnings at $77.64 EPS.
Other equities analysts have also recently issued reports about the company. Cowen and Company increased their target price on The Priceline Group from $1,850.00 to $2,000.00 and gave the stock an “outperform” rating in a report on Wednesday, April 19th. UBS AG restated a “buy” rating and set a $2,100.00 price objective (up from $1,870.00) on shares of The Priceline Group in a research note on Thursday, May 11th. Stifel Nicolaus restated a “buy” rating and set a $2,100.00 price objective on shares of The Priceline Group in a research note on Thursday. Susquehanna Bancshares Inc restated a “positive” rating and set a $2,200.00 price objective (up from $2,150.00) on shares of The Priceline Group in a research note on Thursday. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $1,850.00 price objective on shares of The Priceline Group in a research note on Monday, April 17th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, twenty-six have given a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $1,909.30.
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Shares of The Priceline Group (NASDAQ:PCLN) opened at 1854.17 on Friday. The stock has a 50 day moving average of $1,950.91 and a 200-day moving average of $1,809.82. The company has a market cap of $90.96 billion, a price-to-earnings ratio of 39.38 and a beta of 1.42. The Priceline Group has a 12 month low of $1,392.44 and a 12 month high of $2,067.99. The Priceline Group also saw unusually large options trading on Wednesday. Stock investors purchased 17,507 call options on the company. This represents an increase of 255% compared to the average volume of 4,928 call options.
The Priceline Group (NASDAQ:PCLN) last announced its quarterly earnings data on Tuesday, August 8th. The business services provider reported $15.14 EPS for the quarter, topping the Zacks’ consensus estimate of $14.25 by $0.89. The business had revenue of $3.02 billion for the quarter, compared to analyst estimates of $2.99 billion. The Priceline Group had a net margin of 20.51% and a return on equity of 33.10%. The firm’s revenue for the quarter was up 18.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $13.93 earnings per share.
In other The Priceline Group news, CEO Gillian Tans sold 122 shares of The Priceline Group stock in a transaction dated Friday, July 14th. The stock was sold at an average price of $1,949.47, for a total transaction of $237,835.34. Following the completion of the transaction, 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 legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jan L. Docter sold 1,500 shares of The Priceline Group stock in a transaction dated Tuesday, May 30th. The shares were sold at an average price of $1,857.67, for a total value of $2,786,505.00. Following the transaction, 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. Insiders have sold a total of 1,744 shares of company stock valued at $3,245,648 in the last ninety days. Insiders own 0.42% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of PCLN. Harvest Fund Management Co. Ltd bought a new position in The Priceline Group during the second quarter worth $101,000. Shine Investment Advisory Services Inc. bought a new position in The Priceline Group during the second quarter worth $105,000. Hartford Financial Management Inc. bought a new position in The Priceline Group during the first quarter worth $106,000. Webster Bank N. A. raised its position 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 worth $110,000 after buying an additional 12 shares during the last quarter. Finally, Assetmark Inc. raised its position in The Priceline Group by 12.5% in the first quarter. Assetmark Inc. now owns 63 shares of the business services provider’s stock worth $112,000 after buying an additional 7 shares during the last quarter. 95.01% of the stock is owned by institutional investors and hedge funds.
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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