Jefferies Group Research Analysts Lower Earnings Estimates for Priceline Group Inc (PCLN)

Priceline Group Inc (NASDAQ:PCLN) – Equities research analysts at Jefferies Group dropped their FY2017 EPS estimates for Priceline Group in a report issued on Sunday. Jefferies Group analyst B. Thill now expects that the business services provider will earn $75.04 per share for the year, down from their prior forecast of $75.20. Jefferies Group also issued estimates for Priceline Group’s Q4 2017 earnings at $14.75 EPS.

Other equities analysts have also issued reports about the stock. Vetr lowered shares of Priceline Group from a “buy” rating to a “hold” rating and set a $1,915.34 target price for the company. in a report on Monday. Credit Suisse Group reiterated an “outperform” rating and set a $2,000.00 target price (down from $2,070.00) on shares of Priceline Group in a report on Tuesday, November 7th. Citigroup reiterated a “buy” rating and set a $2,050.00 target price on shares of Priceline Group in a report on Tuesday, November 7th. Oppenheimer reiterated a “buy” rating and set a $1,950.00 target price (down from $2,100.00) on shares of Priceline Group in a report on Tuesday, November 7th. Finally, UBS Group reiterated a “neutral” rating on shares of Priceline Group in a report on Tuesday, November 7th. One analyst has rated the stock with a sell rating, ten have given a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $2,003.45.

Shares of Priceline Group (NASDAQ:PCLN) opened at $1,851.81 on Tuesday. The company has a current ratio of 2.52, a quick ratio of 2.52 and a debt-to-equity ratio of 0.68. The firm has a market capitalization of $90,850.00, a P/E ratio of 25.95, a price-to-earnings-growth ratio of 1.28 and a beta of 1.39. Priceline Group has a 12-month low of $1,516.00 and a 12-month high of $2,067.99.

Priceline Group (NASDAQ:PCLN) last posted its quarterly earnings data on Monday, November 6th. The business services provider reported $35.22 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $34.31 by $0.91. The business had revenue of $4.43 billion for the quarter, compared to analysts’ expectations of $4.34 billion. Priceline Group had a return on equity of 33.02% and a net margin of 29.20%. The business’s revenue was up 20.1% on a year-over-year basis. During the same period in the previous year, the firm posted $29.69 EPS.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Progressive Investment Management Corp raised its stake in Priceline Group by 4.3% during the 4th quarter. Progressive Investment Management Corp now owns 2,109 shares of the business services provider’s stock valued at $3,665,000 after buying an additional 87 shares during the last quarter. Fulton Bank N.A. raised its stake in Priceline Group by 31.2% during the 4th quarter. Fulton Bank N.A. now owns 1,494 shares of the business services provider’s stock valued at $2,596,000 after buying an additional 355 shares during the last quarter. Washington Trust Bank raised its stake in Priceline Group by 4.3% during the 4th quarter. Washington Trust Bank now owns 3,251 shares of the business services provider’s stock valued at $5,649,000 after buying an additional 135 shares during the last quarter. Prudential Financial Inc. raised its stake in Priceline Group by 29.8% during the 3rd quarter. Prudential Financial Inc. now owns 90,226 shares of the business services provider’s stock valued at $165,188,000 after buying an additional 20,691 shares during the last quarter. Finally, Atlantic Trust Group LLC purchased a new stake in Priceline Group during the 3rd quarter valued at $9,572,000. Institutional investors and hedge funds own 94.39% of the company’s stock.

In related news, CEO Gillian Tans sold 123 shares of the business’s stock in a transaction that occurred on Wednesday, November 15th. The shares were sold at an average price of $1,715.78, for a total value of $211,040.94. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jan L. Docter sold 1,200 shares of the business’s stock in a transaction on Wednesday, November 22nd. The shares were sold at an average price of $1,764.52, for a total transaction of $2,117,424.00. Following the sale, the director now owns 142 shares of the company’s stock, valued at $250,561.84. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,567 shares of company stock valued at $2,781,444. 0.24% of the stock is owned by company insiders.

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About 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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