Expedia, Inc. (EXPE) Cut to Sell at Zacks Investment Research
Expedia, Inc. (NASDAQ:EXPE) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Monday.
According to Zacks, “Expedia Inc., is one of the leading online travel companies in the world. The company's second-quarter 2017 results beat the Zacks Consensus Estimate on both earnings and revenues. Year-to-date, the stock has underperformed the Zacks characterized Electronic Commerce industry. The company's agency business looks good, which is no doubt benefiting from the ETP initiative. However, we think that the increased investments in the business, increasing competition across geographies and discounts offered by larger chain hotels can make margin expansion difficult.”
A number of other analysts have also recently commented on EXPE. Raymond James Financial, Inc. restated a “market perform” rating and set a $139.00 target price on shares of Expedia in a report on Thursday, May 18th. They noted that the move was a valuation call. Cantor Fitzgerald restated a “buy” rating and set a $178.00 target price on shares of Expedia in a report on Wednesday, May 31st. Cowen and Company restated an “outperform” rating and set a $160.00 target price on shares of Expedia in a report on Friday, June 16th. Needham & Company LLC restated a “buy” rating on shares of Expedia in a report on Wednesday, June 21st. Finally, Citigroup Inc. upgraded shares of Expedia from a “neutral” rating to a “buy” rating and dropped their target price for the company from $147.89 to $130.00 in a report on Wednesday, June 28th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $163.02.
Expedia (NASDAQ EXPE) opened at 141.41 on Monday. The firm has a 50 day moving average of $148.78 and a 200-day moving average of $140.32. Expedia has a 1-year low of $105.62 and a 1-year high of $161.00. The company has a market capitalization of $21.44 billion, a price-to-earnings ratio of 66.55 and a beta of 0.97.
Expedia (NASDAQ:EXPE) last issued its quarterly earnings data on Thursday, July 27th. The online travel company reported $0.89 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.94 by $0.05. The company had revenue of $2.59 billion for the quarter, compared to analysts’ expectations of $2.55 billion. Expedia had a net margin of 3.49% and a return on equity of 10.98%. The firm’s revenue for the quarter was up 17.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.83 earnings per share. On average, equities research analysts anticipate that Expedia will post $5.04 earnings per share for the current fiscal year.
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In other Expedia news, Vice Chairman Victor Kaufman sold 35,598 shares of the firm’s stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $149.29, for a total value of $5,314,425.42. Following the completion of the sale, the insider now owns 167,673 shares of the company’s stock, valued at $25,031,902.17. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Mark D. Okerstrom sold 12,500 shares of the firm’s stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $150.00, for a total value of $1,875,000.00. Following the completion of the sale, the executive vice president now directly owns 71,248 shares of the company’s stock, valued at approximately $10,687,200. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 146,826 shares of company stock worth $22,359,010. 20.88% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Sentry Investment Management LLC boosted its holdings in Expedia by 1.1% in the second quarter. Sentry Investment Management LLC now owns 7,502 shares of the online travel company’s stock worth $1,117,000 after acquiring an additional 82 shares in the last quarter. Toronto Dominion Bank boosted its holdings in Expedia by 410.3% in the second quarter. Toronto Dominion Bank now owns 166,202 shares of the online travel company’s stock worth $24,751,000 after acquiring an additional 133,633 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in Expedia in the second quarter worth about $1,308,000. Colony Group LLC boosted its holdings in Expedia by 4.6% in the second quarter. Colony Group LLC now owns 26,294 shares of the online travel company’s stock worth $3,917,000 after acquiring an additional 1,155 shares in the last quarter. Finally, Verition Fund Management LLC boosted its holdings in Expedia by 66.2% in the second quarter. Verition Fund Management LLC now owns 9,807 shares of the online travel company’s stock worth $1,461,000 after acquiring an additional 3,907 shares in the last quarter. 84.42% of the stock is owned by institutional investors and hedge funds.
Expedia Company Profile
Expedia, Inc is an online travel company. The Company operates through four segments: Core Online Travel Agencies (Core OTA), trivago, Egencia and HomeAway. The Company’s Core OTA segment provides a range of travel and advertising services to its customers across the world, 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, Wotif Group, CarRentals.com and Classic Vacations.
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