Royal Bank Of Canada Increases Expedia Inc. (EXPE) Price Target to $165.00
Expedia Inc. (NASDAQ:EXPE) had its target price lifted by research analysts at Royal Bank Of Canada from $160.00 to $165.00 in a report issued on Friday. The firm presently has an “outperform” rating on the online travel company’s stock. Royal Bank Of Canada’s target price suggests a potential upside of 38.92% from the company’s current price.
Several other research firms have also commented on EXPE. Zacks Investment Research lowered shares of Expedia from a “hold” rating to a “sell” rating in a research report on Tuesday, October 4th. Jefferies Group restated a “hold” rating on shares of Expedia in a research report on Monday, July 18th. Barclays PLC raised their price target on shares of Expedia from $120.00 to $130.00 and gave the company an “overweight” rating in a research report on Friday, July 29th. Evercore ISI restated a “hold” rating and set a $125.00 price target on shares of Expedia in a research report on Tuesday, July 26th. Finally, Deutsche Bank AG restated a “buy” rating on shares of Expedia in a research report on Sunday, July 10th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and seventeen have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $130.17.
Shares of Expedia (NASDAQ:EXPE) opened at 118.77 on Friday. The stock has a market capitalization of $17.78 billion, a PE ratio of 88.11 and a beta of 0.68. The stock’s 50 day moving average is $112.84 and its 200 day moving average is $111.10. Expedia has a 12 month low of $88.40 and a 12 month high of $140.51.
Expedia (NASDAQ:EXPE) last released its quarterly earnings results on Thursday, July 28th. The online travel company reported $0.83 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.78 by $0.05. The company had revenue of $2.92 billion for the quarter, compared to analyst estimates of $2.25 billion. Expedia had a net margin of 2.33% and a return on equity of 8.02%. The firm’s revenue was up 32.1% on a year-over-year basis. During the same quarter last year, the business earned $0.89 earnings per share. Analysts anticipate that Expedia will post $4.92 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Thursday, August 25th were issued a $0.26 dividend. The ex-dividend date was Tuesday, August 23rd. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.88%. This is a boost from Expedia’s previous quarterly dividend of $0.24. Expedia’s payout ratio is 72.73%.
In related news, Director Craig A. Jacobson sold 8,000 shares of Expedia stock in a transaction that occurred on Tuesday, August 16th. The shares were sold at an average price of $116.54, for a total value of $932,320.00. Following the completion of the transaction, the director now owns 40,896 shares in the company, valued at $4,766,019.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Mark D. Okerstrom sold 56,664 shares of Expedia stock in a transaction that occurred on Thursday, August 11th. The shares were sold at an average price of $114.97, for a total transaction of $6,514,660.08. Following the completion of the transaction, the executive vice president now owns 100,543 shares of the company’s stock, valued at approximately $11,559,428.71. The disclosure for this sale can be found here. 20.95% of the stock is currently owned by corporate insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in EXPE. Wellington Management Group LLP boosted its position in shares of Expedia by 211.9% in the first quarter. Wellington Management Group LLP now owns 3,706,987 shares of the online travel company’s stock worth $399,687,000 after buying an additional 2,518,390 shares during the period. Ameriprise Financial Inc. boosted its position in shares of Expedia by 186.7% in the second quarter. Ameriprise Financial Inc. now owns 2,166,442 shares of the online travel company’s stock worth $230,298,000 after buying an additional 1,410,890 shares during the period. Senator Investment Group LP acquired a new position in shares of Expedia during the second quarter worth $106,300,000. Coatue Management LLC boosted its position in shares of Expedia by 32.6% in the second quarter. Coatue Management LLC now owns 2,034,943 shares of the online travel company’s stock worth $216,315,000 after buying an additional 500,674 shares during the period. Finally, JPMorgan Chase & Co. boosted its position in shares of Expedia by 13.3% in the second quarter. JPMorgan Chase & Co. now owns 4,092,152 shares of the online travel company’s stock worth $434,995,000 after buying an additional 479,617 shares during the period. Hedge funds and other institutional investors own 81.99% of the company’s stock.
Expedia, Inc is an online travel company. The Company makes travel products and services available, on a standalone and package basis, provided by various lodging properties, airlines, car rental companies, destination service providers, cruise lines and other travel product and service companies. Its Core OTA segment provides a range of travel and advertising services, through a range of brands, including Expedia.com and Hotels.com in the United States and localized Expedia and Hotels.com Websites throughout the world, Orbitz.com, Expedia Affiliate Network, Hotwire.com, Travelocity, Venere, Wotif Group, CarRentals.com, and Classic Vacations.
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