Equities analysts forecast that The Priceline Group Inc. (NASDAQ:PCLN) will announce $4.34 billion in sales for the current fiscal quarter, according to Zacks Investment Research. 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 would indicate a positive year over year growth rate of 17.6%. The business is expected to report its next earnings report on Monday, November 6th.
On average, 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 $13.15 billion. For the next year, analysts forecast that the business will post sales of $14.65 billion per share, with estimates ranging from $14.30 billion to $16.05 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that cover The Priceline Group.
The Priceline Group (NASDAQ:PCLN) last posted its quarterly earnings results on Tuesday, August 8th. The business services provider reported $15.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $14.25 by $0.89. The firm had revenue of $3.02 billion during the quarter, compared to analyst estimates of $2.99 billion. The Priceline Group had a return on equity of 33.10% and a net margin of 20.51%. The Priceline Group’s quarterly revenue was up 18.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $13.93 EPS.
PCLN has been the subject of a number of analyst reports. Needham & Company LLC restated a “buy” rating on shares of The Priceline Group in a research note on Wednesday, June 21st. BidaskClub upgraded The Priceline Group from a “buy” rating to a “strong-buy” rating in a research note on Saturday, July 1st. Zacks Investment Research cut The Priceline Group from a “hold” rating to a “sell” rating in a research note on Tuesday, July 11th. Morgan Stanley upped 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. Finally, Piper Jaffray Companies restated an “overweight” rating and set a $110.00 price objective (down from $2,150.00) on shares of The Priceline Group in a research note on Friday, July 28th. One analyst has rated the stock with a sell rating, five have given a hold rating, twenty-seven have assigned 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 target price of $1,961.00.
In other The Priceline Group news, CEO Gillian Tans sold 122 shares of the firm’s stock in a transaction that occurred on Friday, September 15th. The stock was sold at an average price of $1,845.97, for a total value of $225,208.34. Following the sale, the chief executive officer now directly owns 5,677 shares of the company’s stock, valued at $10,479,571.69. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Jan L. Docter sold 2,500 shares of the firm’s stock in a transaction that occurred on Thursday, August 10th. The shares were sold at an average price of $1,875.90, for a total value of $4,689,750.00. Following the completion of the sale, the director now directly owns 320 shares in the company, valued at $600,288. The disclosure for this sale can be found here. Over the last three months, insiders sold 2,745 shares of company stock worth $5,146,245. 0.24% of the stock is owned by corporate insiders.
Institutional investors and hedge funds have recently modified their holdings of the business. Mackenzie Financial Corp acquired a new stake in The Priceline Group in the first quarter valued at approximately $34,546,000. Swiss National Bank grew its holdings in The Priceline Group by 2.7% in the second quarter. Swiss National Bank now owns 179,652 shares of the business services provider’s stock valued at $336,043,000 after purchasing an additional 4,800 shares during the period. Pacer Advisors Inc. grew its holdings in The Priceline Group by 4.4% in the second quarter. Pacer Advisors Inc. now owns 1,647 shares of the business services provider’s stock valued at $3,081,000 after purchasing an additional 69 shares during the period. Norinchukin Bank The grew its holdings in The Priceline Group by 4.0% in the second quarter. Norinchukin Bank The now owns 5,942 shares of the business services provider’s stock valued at $11,115,000 after purchasing an additional 228 shares during the period. Finally, Parallel Advisors LLC grew its holdings in The Priceline Group by 98.1% in the first quarter. Parallel Advisors LLC now owns 204 shares of the business services provider’s stock valued at $383,000 after purchasing an additional 101 shares during the period. 94.39% of the stock is currently owned by institutional investors.
The Priceline Group (NASDAQ:PCLN) opened at 1935.55 on Tuesday. The Priceline Group has a 52-week low of $1,422.19 and a 52-week high of $2,067.99. The stock has a 50 day moving average price of $1,860.53 and a 200 day moving average price of $1,866.56. The stock has a market cap of $94.96 billion, a price-to-earnings ratio of 41.11 and a beta of 1.47.
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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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