B. Riley Lowers Earnings Forecast for Booking Holdings in FY2024

Booking Holdings Inc. (NASDAQ:BKNG – Free Report) has seen a change in its earnings estimates as equities research analysts at B. Riley issued a report on January 17th. Analyst N. Khan has revised the forecast for FY2024, now expecting the travel services provider to earn $180.60 per share, a decrease from the earlier estimate of $182.14.

B. Riley has maintained a “Buy” rating on Booking’s stock with a price target set at $5,100.00. In comparison, the consensus estimate for Booking’s current full-year earnings stands at $181.84 per share.

Future Earnings Estimates

In addition to the FY2024 outlook, B. Riley also provided estimates for upcoming quarters. For Q1 2025, the earnings per share (EPS) is anticipated to be $16.83, while Q2 2025 is projected at $48.04 EPS. Looking further ahead, the FY2029 earnings are estimated at $514.00 EPS.

Other Analyst Insights

Other research firms have also recently made notable comments regarding Booking Holdings. Citigroup raised their price objective from $4,100.00 to $5,500.00 while maintaining a “buy” rating on November 4th. Wedbush also increased their price target for Booking from $5,000.00 to $5,500.00 and assigned an “outperform” rating in a report on January 6th.

JMP Securities confirmed a “market outperform” rating with a price target of $5,400.00 for Booking in their report on December 11th. Meanwhile, Robert W. Baird began coverage with an “outperform” rating and a target price of $5,850.00, and Wells Fargo lowered their target from $4,657.00 to $4,470.00, rating it as “equal weight.”

In total, ten research analysts have given Booking a hold rating, 21 have issued a buy, and two have assigned a strong buy rating. The average rating for Booking Holdings is currently categorized as “Moderate Buy” with a consensus price target of $4,997.64 based on data from MarketBeat.

Stock Performance Overview

As of Monday, shares of BKNG opened at $4,926.80. The stock has a 50-day moving average price of $5,052.18 and a 200-day moving average price of $4,381.01. Over the past year, the stock has varied significantly, with a one-year low of $3,180.00 and a high of $5,337.24. With a market capitalization of $163.06 billion, it currently holds a price-to-earnings ratio of 33.43, a PEG ratio of 1.60, and a beta of 1.41.

Institutional Investment Activity

Several institutional investors have adjusted their stakes in Booking Holdings recently. For instance, Jamison Private Wealth Management Inc. purchased a new stake during the third quarter, amounting to $25,000. West Financial Advisors LLC invested $29,000 in new shares of Booking within the same quarter. Additionally, Addison Advisors LLC increased their stake by 80%, now owning nine shares valued at $38,000 after acquiring more shares in the last quarter.

Other investors, including Fairscale Capital LLC and Carmichael Hill & Associates Inc., have also made investments in Booking, with the latter increasing their holdings by 66.7%. Notably, institutional investors collectively own approximately 92.42% of Booking Holdings’ stock.

Dividend Announcement

Booking Holdings has also declared a quarterly dividend, which was disbursed on December 31st. Shareholders on record as of December 6th received a dividend of $8.75 per share. This annualizes to $35.00, yielding approximately 0.71%. The company's payout ratio currently stands at 23.75%.

About Booking Holdings

Booking Holdings Inc., formerly known as The Priceline Group Inc., is a leading provider of travel and restaurant online reservation services. Through its various online travel companies, the firm connects consumers with travel services worldwide, offering a diverse range of accommodation options including hotels, vacation rentals, and more via its brands such as Booking.com, priceline.com, and agoda.com.

Earnings, Forecast, Booking