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Based in Norwalk, Connecticut, Booking Holdings Inc. (BKNG) 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 $139.75 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 Q2 earnings results after the market closes on Thursday, Aug. 1.
Ahead of the event, analysts expect BKNG to report a profit of $39.22 per share, up 4.3% from $37.62 in the year-ago quarter. The company has consistently surpassed Wall Street’s EPS estimates in its last four quarterly reports.
Booking Holdings' adjusted earnings of $20.39 per share for the last quarter surpassed the consensus estimate by 45.3%. The company's quarterly performance was aided by strong merchant gross bookings and room nights sold, along with increased advertising and other revenues.
For fiscal 2024, analysts expect BKNG to report EPS of $178.54, up 17.3% from $152.22 in fiscal 2023.
BKNG stock is up 16.1% on a YTD basis, underperforming the broader S&P 500 Index's ($SPX) 18.8% gains. However, it has outperformed the Consumer Discretionary Select Sector SPDR Fund's (XLY) 8.9% returns over the same time frame.
BKNG reported Q1 earnings on May 2. Revenue for the period was $4.42 billion, exceeding analysts' forecasts of $4.25 billion. The stock gained over 6% following its Q1 report.
However, the company faces scrutiny as Dutch prosecutors investigate a criminal complaint against its subsidiary, Booking.com. The complaint alleges that the company is profiting from war crimes by listing rental properties in Israeli settlements and violating Dutch anti-money laundering rules. Despite Booking.com's denial of the allegations, the investigation has raised concerns about the company's ethical practices and potential legal consequences.
The consensus opinion on BKNG stock is optimistic, with an overall “Moderate Buy” rating. Out of 32 analysts covering the stock, 21 advise a “Strong Buy” rating, two suggest a “Moderate Buy” rating, and nine suggest a “Hold.” BKNG's average analyst price target is $4,123.78, indicating a marginal potential upside from the current levels.
On the date of publication, Rashmi Kumari 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.
