Priceline Q4 Profit Up a Third
- Author: Arturo Norris Feb 28, 2017,
Feb 28, 2017, 4:58
(PCLN) managed to surpass quarterly earnings per share estimates in 12 of the trailing twelve fiscal quarters, and has a positive trend with an average surprise of 100%. (PCLN) on Monday reported fourth-quarter profit of $673.9 million.
For the full year 2016, Priceline net income dropped to $2.13 billion, 16.3 percent down on 2015's $2.55 billion, as a non-cash charge of $941 million hit the bottom line. (NASDAQ:PCLN) opened at 1583.38 on Friday. On average, equities analysts expect that The Priceline Group Inc. will post $64.72 earnings per share for the current year.
Several brokerages recently commented on PCLN.
Expedia stock closed Monday at 118.69, down 0.4%. Evercore ISI reissued a buy rating and issued a $1,650.00 price target on shares of The Priceline Group in a research note on Tuesday, November 8th.
RBC Capital Markets analyst Mark Mahaney last week issued a research note on Priceline that maintained an outperform rating and price target of 1,850. CLSA reaffirmed a "buy" rating on shares of The Priceline Group in a research note on Wednesday, December 7th. Currently, PCLN is a #3 (Hold) on the Zacks Rank, and is up 1.10% to $1,650.00 per share in trading shortly after its earnings report was released. Finally, Benchmark Co. reiterated a "buy" rating and set a $1,800.00 price target (up from $1,600.00) on shares of The Priceline Group in a research report on Tuesday, November 8th.
In other The Priceline Group news, Chairman Jeffery H. Boyd sold 3,000 shares of the firm's stock in a transaction that occurred on Tuesday, January 3rd. The number of airline tickets sold during the quarter fell 4% to 1.6 million. The stock was sold at an average price of $1,488.76, for a total value of $1,488,760.00. Following the transaction, the chief executive officer now owns 5,396 shares of the company's stock, valued at $8,201,920. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. The disclosure for this sale can be found here. News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for The Priceline Group Inc. with MarketBeat.com's FREE daily email newsletter. The Company, through its online travel companies (OTCs), connects consumers wishing to make travel reservations with providers of travel services across the world.
Meanwhile, travelers are booking fewer flights on Priceline.