Online travel company Priceline Group (PCLN) is expected to maintain double-digit growth rates when it reports third-quarter earnings after the market close Monday.
The Wall Street consensus is for Priceline to report revenue of $3.6 billion, up 16% year over year, with earnings per share minus items of $29.92, up 18%.
Priceline Group is the leading online travel company by revenue, followed by Expedia (EXPE). It offers hotel and accommodation reservations, airline tickets, car rentals, cruises, and vacation packages. Priceline brands include Booking.com, Kayak, Agoda and restaurant-reservations site OpenTable.
The company generates about 80% of its gross bookings from its international business, primarily from Booking.com. Expedia is more focused on North America.
IBD’S TAKE: Priceline Group has a strong IBD Composite Rating of 96, meaning it has outperformed 96% of other stocks over the past 12 months in key metrics. Check out which other stocks have strong ratings at Stock Spotlight.
Cowen analyst Kevin Kopelman, in a research note, maintained an outperform rating and price target of 1,550 on Priceline stock.
Priceline stock fell 1% in the stock market today to 1,424.28, and this week fell below the key 50-day moving average support line, after touching an all-time high of 1,501.79 on Oct. 5.
“We note Priceline has been solidifying its leadership position and see upside to our target over time as the company continues to generate solid EPS growth,” Kopelman wrote in his research note.
Priceline posted higher-than-expected Q2 earnings, and shares rose 4% on that report though the top-line missed analyst estimates.
Expedia Hits 10-Month High, Hurricane Matthew Impact Minimal
Expedia, Priceline, TripAdvisor Dip On Google Travel Push
View more information: https://www.investors.com/news/technology/what-to-expect-when-priceline-reports-q3-earnings/