JPMorgan Chase & Co. Lowers Booking (NASDAQ:BKNG) Price Target to $4,850.00

Booking (NASDAQ:BKNG - Free Report) had its price objective trimmed by JPMorgan Chase & Co. from $5,750.00 to $4,850.00 in a research note published on Tuesday morning,Benzinga reports. The brokerage currently has an overweight rating on the business services provider's stock.

Several other equities analysts have also recently issued reports on BKNG. StockNews.com upgraded shares of Booking from a "hold" rating to a "buy" rating in a research note on Friday, March 28th. Bank of America raised their target price on Booking from $4,850.00 to $5,522.00 and gave the company a "neutral" rating in a research report on Wednesday, December 18th. Wells Fargo & Company reduced their price target on Booking from $5,248.00 to $4,567.00 and set an "equal weight" rating for the company in a report on Monday, April 7th. BMO Capital Markets raised their price objective on Booking from $5,155.00 to $5,900.00 and gave the company an "outperform" rating in a report on Friday, February 21st. Finally, Citigroup upped their target price on Booking from $5,500.00 to $5,800.00 and gave the stock a "buy" rating in a research note on Friday, February 21st. Eleven analysts have rated the stock with a hold rating, twenty have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $5,327.28.

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Booking Price Performance

NASDAQ:BKNG traded up $91.89 during mid-day trading on Tuesday, hitting $4,586.53. The company's stock had a trading volume of 304,917 shares, compared to its average volume of 248,358. The business's fifty day moving average is $4,715.54 and its two-hundred day moving average is $4,766.03. The stock has a market cap of $150.51 billion, a price-to-earnings ratio of 26.51, a PEG ratio of 1.71 and a beta of 1.37. Booking has a 1 year low of $3,180.00 and a 1 year high of $5,337.24.

Booking (NASDAQ:BKNG - Get Free Report) last issued its earnings results on Thursday, February 20th. The business services provider reported $41.55 EPS for the quarter, topping analysts' consensus estimates of $35.82 by $5.73. The firm had revenue of $5.47 billion for the quarter, compared to the consensus estimate of $5.18 billion. Booking had a negative return on equity of 159.34% and a net margin of 24.78%. Analysts anticipate that Booking will post 209.92 EPS for the current fiscal year.

Booking Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 7th were issued a dividend of $9.60 per share. The ex-dividend date was Friday, March 7th. This is a boost from Booking's previous quarterly dividend of $8.75. This represents a $38.40 dividend on an annualized basis and a dividend yield of 0.84%. Booking's dividend payout ratio is currently 22.19%.

Institutional Trading of Booking

Institutional investors and hedge funds have recently bought and sold shares of the stock. Princeton Global Asset Management LLC lifted its holdings in shares of Booking by 1.3% in the 1st quarter. Princeton Global Asset Management LLC now owns 808 shares of the business services provider's stock worth $3,724,000 after acquiring an additional 10 shares during the last quarter. Congress Asset Management Co. raised its position in Booking by 0.8% in the first quarter. Congress Asset Management Co. now owns 3,380 shares of the business services provider's stock valued at $15,572,000 after purchasing an additional 27 shares during the period. Radnor Capital Management LLC lifted its stake in Booking by 1.9% during the first quarter. Radnor Capital Management LLC now owns 531 shares of the business services provider's stock worth $2,446,000 after purchasing an additional 10 shares in the last quarter. Procyon Advisors LLC lifted its stake in Booking by 103.4% during the first quarter. Procyon Advisors LLC now owns 537 shares of the business services provider's stock worth $2,475,000 after purchasing an additional 273 shares in the last quarter. Finally, Unique Wealth LLC boosted its position in shares of Booking by 30.4% during the first quarter. Unique Wealth LLC now owns 793 shares of the business services provider's stock worth $3,653,000 after buying an additional 185 shares during the period. 92.42% of the stock is currently owned by hedge funds and other institutional investors.

About Booking

Booking Holdings Inc, formerly 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.