Expedia’s (EXPE) “Buy” Rating Reiterated at RBC Capital Markets
RBC Capital Markets reissued their buy rating on shares of Expedia Inc. (NASDAQ:EXPE) in a research report report published on Friday morning. The brokerage currently has a $165.00 target price on the online travel company’s stock, up from their previous target price of $160.00.
Other equities research analysts have also issued reports about the stock. Deutsche Bank AG reaffirmed a buy rating on shares of Expedia in a report on Sunday, July 10th. Barclays PLC lifted their target price on shares of Expedia from $120.00 to $130.00 and gave the stock an overweight rating in a research report on Friday, July 29th. Zacks Investment Research upgraded shares of Expedia from a hold rating to a buy rating and set a $113.00 target price on the stock in a research report on Wednesday, June 29th. Cantor Fitzgerald reiterated a buy rating and set a $175.00 target price on shares of Expedia in a research report on Tuesday, August 9th. Finally, Jefferies Group reiterated a hold rating and set a $125.00 target price on shares of Expedia in a research report on Tuesday, August 9th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and seventeen have issued a buy rating to the company’s stock. Expedia currently has a consensus rating of Buy and a consensus price target of $130.17.
Shares of Expedia (NASDAQ:EXPE) opened at 118.79 on Friday. The firm has a 50-day moving average of $113.09 and a 200 day moving average of $111.21. The company has a market cap of $17.78 billion, a P/E ratio of 88.12 and a beta of 0.68. Expedia has a 52 week low of $88.40 and a 52 week high of $140.51.
Expedia (NASDAQ:EXPE) last announced its quarterly earnings results on Thursday, July 28th. The online travel company reported $0.83 earnings per share (EPS) for the quarter, beating the 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 period in the previous year, the firm posted $0.89 EPS. Equities analysts anticipate that Expedia will post $4.92 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Thursday, August 25th were issued a $0.26 dividend. This is an increase from Expedia’s previous quarterly dividend of $0.24. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.88%. The ex-dividend date was Tuesday, August 23rd. Expedia’s payout ratio is 72.73%.
In other Expedia news, EVP Mark D. Okerstrom sold 56,664 shares of the company’s stock in a transaction dated 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 sale, the executive vice president now directly owns 100,543 shares of the company’s stock, valued at $11,559,428.71. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Craig A. Jacobson sold 8,000 shares of the company’s stock in a transaction dated Tuesday, August 16th. The shares were sold at an average price of $116.54, for a total transaction of $932,320.00. Following the sale, the director now directly owns 40,896 shares in the company, valued at $4,766,019.84. The disclosure for this sale can be found here. 20.95% of the stock is currently owned by corporate insiders.
Large investors have recently added to or reduced their stakes in the stock. State Street Corp increased its stake in Expedia by 0.8% in the first quarter. State Street Corp now owns 4,851,376 shares of the online travel company’s stock valued at $523,064,000 after buying an additional 38,192 shares during the period. JPMorgan Chase & Co. increased its stake in Expedia by 13.3% in the second quarter. JPMorgan Chase & Co. now owns 4,092,152 shares of the online travel company’s stock valued at $434,995,000 after buying an additional 479,617 shares during the period. Wellington Management Group LLP increased its stake in 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 valued at $399,687,000 after buying an additional 2,518,390 shares during the period. BlackRock Institutional Trust Company N.A. increased its stake in Expedia by 3.1% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 3,101,264 shares of the online travel company’s stock valued at $329,664,000 after buying an additional 93,900 shares during the period. Finally, Ameriprise Financial Inc. increased its stake in Expedia by 186.7% in the second quarter. Ameriprise Financial Inc. now owns 2,166,442 shares of the online travel company’s stock valued at $230,298,000 after buying an additional 1,410,890 shares during the period. 81.99% of the stock is currently owned by institutional investors and hedge funds.
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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