Analysts forecast that Priceline Group Inc (NASDAQ:PCLN) will post sales of $2.70 billion for the current quarter, Zacks reports. Nine analysts have issued estimates for Priceline Group’s earnings. The highest sales estimate is $2.74 billion and the lowest is $2.65 billion. Priceline Group posted sales of $2.35 billion during the same quarter last year, which suggests a positive year-over-year growth rate of 14.9%. The business is expected to report its next quarterly earnings report after the market closes on Tuesday, February 27th.
According to Zacks, analysts expect that Priceline Group will report full-year sales of $2.70 billion for the current financial year, with estimates ranging from $12.39 billion to $13.15 billion. For the next financial year, analysts anticipate that the business will post sales of $14.61 billion per share, with estimates ranging from $13.96 billion to $16.05 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that cover Priceline Group.
Several research analysts have issued reports on the company. Zacks Investment Research cut Priceline Group from a “buy” rating to a “hold” rating in a research report on Wednesday, January 10th. Guggenheim cut Priceline Group from a “buy” rating to a “neutral” rating in a research report on Tuesday, November 7th. Citigroup reissued a “buy” rating and issued a $2,050.00 target price on shares of Priceline Group in a research report on Tuesday, November 7th. Wells Fargo & Co raised their target price on Priceline Group from $1,800.00 to $1,850.00 and gave the stock a “market perform” rating in a research report on Tuesday, January 30th. Finally, Credit Suisse Group raised Priceline Group to a “buy” rating in a research report on Wednesday, February 7th. Ten investment analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the stock. Priceline Group presently has a consensus rating of “Buy” and an average target price of $2,025.31.
In related news, Director Jan L. Docter sold 1,200 shares of Priceline Group stock in a transaction that occurred on Wednesday, November 22nd. The stock was 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 approximately $250,561.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Gillian Tans sold 122 shares of Priceline Group stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of $1,772.94, for a total value of $216,298.68. Following the sale, the chief executive officer now directly owns 5,310 shares in the company, valued at approximately $9,414,311.40. The disclosure for this sale can be found here. Insiders have sold a total of 1,567 shares of company stock worth $2,796,925 in the last three months. 0.24% of the stock is owned by corporate insiders.
Institutional investors and hedge funds have recently modified their holdings of the stock. State of New Jersey Common Pension Fund D bought a new stake in Priceline Group during the 3rd quarter valued at approximately $36,616,000. Equitec Proprietary Markets LLC bought a new stake in Priceline Group during the 3rd quarter valued at approximately $549,000. Troy Asset Management Ltd purchased a new position in Priceline Group during the 3rd quarter valued at approximately $3,295,000. Huntington National Bank grew its holdings in Priceline Group by 14.4% during the 3rd quarter. Huntington National Bank now owns 13,761 shares of the business services provider’s stock valued at $25,194,000 after buying an additional 1,734 shares in the last quarter. Finally, Washington Trust Bank grew its holdings 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 in the last quarter. 93.87% of the stock is currently owned by institutional investors.
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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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