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Booking Holdings Inc. (BKNG), headquartered in Norwalk, Connecticut, is a global leader in online travel and related services. It is renowned for its extensive portfolio of brands and platforms, including Booking.com, Priceline, Agoda, and Kayak. With a market cap of $147.6 billion, Booking Holdings is recognized for its innovation, customer-centric approach, and commitment to providing seamless travel experiences. Booking Holdings is scheduled to announce its fiscal Q3 earnings results after the market closes on Thursday, October 30.
Ahead of the event, analysts expect BKNG to report a profit of $77.74 per share, up 7.5% from $72.32 in the year-ago quarter. The company has consistently surpassed Wall Street’s EPS estimates in its last four quarterly reports. Driven by improving travel demand and booking trends, Booking Holdings' adjusted earnings of $41.90 per share for the last quarter surpassed the consensus estimate by 6.4%.
For fiscal 2024, analysts expect BKNG to report EPS of $177.05, up 16.3% from $152.22 in fiscal 2023.
BKNG stock is up 22.7% on a YTD basis, slightly underperforming the broader S&P 500 Index's ($SPX) 23% gains. However, it has outperformed the Consumer Discretionary Select Sector SPDR Fund's (XLY) 11.6% returns over the same time frame.
On Oct. 8, BKNG saw an increase of over 1%, benefiting from the overall positive sentiment in the travel sector following a drop in crude prices and optimistic remarks from New York Fed President Williams about the U.S. economy.
BKNG announced its Q2 earnings on Aug. 1, and despite beating Q2 revenue and profit estimates, the stock dropped 9.2% in the following trading session due to the company's forecast of slower room night growth for Q3.
The consensus opinion on BKNG stock is cautiously optimistic, with an overall “Moderate Buy” rating. Out of 33 analysts covering the stock, 20 advise a “Strong Buy” rating, two suggest a “Moderate Buy” rating, and 11 suggest a “Hold.”
While RMD currently trades above its mean price target of $4,189.42, its Street-high target of $5,000 indicates an upswing of 14.9% from the prevailing price levels.
On the date of publication, Kritika Sarmah did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
