Expedia Group (EXPE) Lowered to “Hold” at Zacks Investment Research
Expedia Group (NASDAQ:EXPE) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Thursday.
According to Zacks, “Expedia is benefiting from its well performing HomeAway, Brand Expedia, Expedia Partner Solutions and Hotels.com. All these are aiding the company’s gross bookings and stayed room nights which remain the key driver of its top-line growth. Additionally, the company’s strong initiatives toward strengthening footprints in the domestic regions are driving its domestic stayed room nights. This remains a tailwind. We believe Expedia’s strength in Core OTA, Brand Expedia, Hotels.com, Expedia Partner Solutions and Egencia will continue to benefit its market position. The expansion of global lodging portfolio will also continue to aid the lodging revenues of Expedia. However, sluggishness in the company’s trivago segment remains an overhang. Also, intensifying competition in the online travel space is a concern. Notably, the stock has underperformed the industry it belongs to over a year.”
Several other analysts have also issued reports on EXPE. BidaskClub lowered shares of Expedia Group from a “hold” rating to a “sell” rating in a research report on Tuesday, October 9th. Evercore ISI initiated coverage on shares of Expedia Group in a research report on Monday, October 15th. They set an “outperform” rating and a $140.00 target price on the stock. SunTrust Banks reiterated a “buy” rating and set a $180.00 target price on shares of Expedia Group in a research report on Tuesday, October 16th. Oppenheimer set a $155.00 target price on shares of Expedia Group and gave the company a “buy” rating in a research report on Tuesday, October 23rd. Finally, Cowen set a $135.00 target price on shares of Expedia Group and gave the company a “buy” rating in a research report on Monday, October 22nd. Thirteen research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. Expedia Group presently has a consensus rating of “Buy” and an average price target of $143.92.
Expedia Group (NASDAQ:EXPE) last posted its quarterly earnings results on Thursday, October 25th. The online travel company reported $3.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.12 by $0.53. The company had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.29 billion. Expedia Group had a net margin of 4.04% and a return on equity of 11.79%. During the same period last year, the business posted $2.51 EPS. As a group, sell-side analysts expect that Expedia Group will post 4.56 earnings per share for the current fiscal year.
In other Expedia Group news, insider Lance A. Soliday sold 3,281 shares of the business’s stock in a transaction dated Thursday, November 15th. The shares were sold at an average price of $119.28, for a total value of $391,357.68. Following the transaction, the insider now directly owns 7,674 shares in the company, valued at $915,354.72. The transaction was disclosed in a document filed with the SEC, which is available through this link. 20.96% of the stock is owned by insiders.
A number of large investors have recently added to or reduced their stakes in the business. BlackRock Inc. boosted its position in Expedia Group by 0.3% in the third quarter. BlackRock Inc. now owns 7,582,766 shares of the online travel company’s stock valued at $989,398,000 after buying an additional 20,780 shares in the last quarter. TIAA CREF Investment Management LLC raised its stake in shares of Expedia Group by 4.7% in the third quarter. TIAA CREF Investment Management LLC now owns 3,379,276 shares of the online travel company’s stock worth $440,928,000 after acquiring an additional 152,165 shares during the last quarter. Winslow Capital Management LLC raised its stake in shares of Expedia Group by 25.2% in the third quarter. Winslow Capital Management LLC now owns 1,930,406 shares of the online travel company’s stock worth $251,880,000 after acquiring an additional 389,022 shares during the last quarter. First Trust Advisors LP raised its stake in shares of Expedia Group by 1.7% in the third quarter. First Trust Advisors LP now owns 1,858,394 shares of the online travel company’s stock worth $242,483,000 after acquiring an additional 30,761 shares during the last quarter. Finally, Northern Trust Corp raised its stake in shares of Expedia Group by 1.4% in the second quarter. Northern Trust Corp now owns 1,339,279 shares of the online travel company’s stock worth $160,968,000 after acquiring an additional 17,890 shares during the last quarter. Hedge funds and other institutional investors own 79.83% of the company’s stock.
About Expedia Group
Expedia Group, Inc, together with its subsidiaries, operates as an online travel company in the United States and internationally. It operates through Core OTA, Trivago, HomeAway, and Egencia segments. The company facilitates the booking of hotel rooms, airline seats, car rentals, and destination services from its travel suppliers; and acts as an agent in the transactions.
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