Expedia, Inc. (EXPE) Receives “Buy” Rating from UBS AG
UBS AG reissued their buy rating on shares of Expedia, Inc. (NASDAQ:EXPE) in a report released on Friday morning. UBS AG currently has a $170.00 target price on the online travel company’s stock, down from their previous target price of $178.00.
Several other analysts have also commented on EXPE. BidaskClub lowered shares of Expedia from a buy rating to a hold rating in a research report on Wednesday, August 9th. Zacks Investment Research lowered shares of Expedia from a buy rating to a hold rating in a research report on Wednesday, August 2nd. Oppenheimer Holdings, Inc. reissued a buy rating on shares of Expedia in a research report on Thursday, September 14th. Piper Jaffray Companies reissued an overweight rating and set a $173.00 price target on shares of Expedia in a research report on Friday, July 28th. Finally, SunTrust Banks, Inc. initiated coverage on shares of Expedia in a research report on Tuesday, August 15th. They set a buy rating and a $190.00 price target for the company. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of Buy and a consensus target price of $162.75.
Expedia (NASDAQ:EXPE) traded up 1.85% during mid-day trading on Friday, hitting $145.77. 2,268,233 shares of the stock traded hands. The company has a market cap of $22.10 billion, a P/E ratio of 68.60 and a beta of 0.97. Expedia has a 12 month low of $107.10 and a 12 month high of $161.00. The company’s 50 day moving average is $146.32 and its 200 day moving average is $141.84.
Expedia (NASDAQ:EXPE) last released its quarterly earnings results 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 business 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%. Expedia’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 company earned $0.83 EPS. On average, analysts expect that Expedia will post $5.03 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, September 14th. Shareholders of record on Thursday, August 24th were issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 0.82%. The ex-dividend date was Tuesday, August 22nd. This is a boost from Expedia’s previous quarterly dividend of $0.28. Expedia’s dividend payout ratio is 56.87%.
In other Expedia news, CEO Dara Khosrowshahi sold 86,228 shares of the firm’s stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $154.12, for a total transaction of $13,289,459.36. Following the completion of the sale, the chief executive officer now directly owns 518,576 shares in the company, valued at $79,922,933.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Mark D. Okerstrom sold 12,500 shares of Expedia stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $150.00, for a total transaction of $1,875,000.00. Following the completion of the sale, the executive vice president now owns 71,248 shares of the company’s stock, valued at $10,687,200. The disclosure for this sale can be found here. Insiders sold a total of 146,826 shares of company stock valued at $22,359,010 in the last 90 days. 20.95% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Cleararc Capital Inc. raised its position in shares of Expedia by 0.5% in the first quarter. Cleararc Capital Inc. now owns 2,948 shares of the online travel company’s stock valued at $372,000 after buying an additional 16 shares in the last quarter. Merriman Wealth Management LLC raised its position in shares of Expedia by 1.4% in the second quarter. Merriman Wealth Management LLC now owns 2,139 shares of the online travel company’s stock valued at $319,000 after buying an additional 29 shares in the last quarter. Blair William & Co. IL raised its position in shares of Expedia by 0.6% in the second quarter. Blair William & Co. IL now owns 4,998 shares of the online travel company’s stock valued at $744,000 after buying an additional 30 shares in the last quarter. First Allied Advisory Services Inc. raised its position in shares of Expedia by 1.3% in the second quarter. First Allied Advisory Services Inc. now owns 2,763 shares of the online travel company’s stock valued at $412,000 after buying an additional 35 shares in the last quarter. Finally, Nordea Investment Management AB raised its position in shares of Expedia by 0.8% in the second quarter. Nordea Investment Management AB now owns 4,996 shares of the online travel company’s stock valued at $744,000 after buying an additional 38 shares in the last quarter. Institutional investors own 84.37% of the company’s stock.
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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