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PRICELINE.COM (PCLN)
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Priceline com : Group posts third-quarter profit rise, shares fall on fourth-quarter guidance

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11/07/2017 | 04:26pm CET
The logo global online travel brand Expedia of is pictured at the International Tourism Trade Fair in Berlin

Online travel services company Priceline Group Inc on Monday posted a jump in third-quarter net income to $1.7 billion, including a $941 million goodwill impairment charge, with strong performance from its Booking.com online travel agent website.

But shares of Priceline Group - which owns Priceline.com, Booking.com, KAYAK and other online brands - slid over 5 percent in extended trading, as investors reacted to the softer-than-expected guidance for the fourth quarter.

In the current quarter, Priceline said it expects its profit to be between $13.40 and $14 per diluted share, compared to $13.47 in the year prior, as growth in third-party booking agencies slowed across the industry.

To combat the decline in growth, Priceline upped its operating expenses in the quarter by more than 20 percent, largely from spending increases in performance and brand advertising.

"As we look to the fourth quarter and beyond, we will continue to focus on making the right investments across our brands - in people, systems, and marketing - to continue to grow our business for the long term," Priceline Chief Executive Glenn Fogel said in a statement.

Earnings per share in the busy third quarter beat analyst expectations at $35.22, compared to a consensus view of $34.25, according to Thomson Reuters I/B/E/S.

"Globally, our accommodation business booked 178 million room nights in the third quarter, up 19 percent over the same period last year. Booking.com showed continued momentum with approximately 1.5 million properties on its platform, up 41 percent over last year," Fogel said.

(Reporting by Alana Wise; Editing by Chris Reese)

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Financials ($)
Sales 2017 12 568 M
EBIT 2017 4 552 M
Net income 2017 3 553 M
Debt 2017 3 430 M
Yield 2017 -
P/E ratio 2017 26,79
P/E ratio 2018 23,74
EV / Sales 2017 7,73x
EV / Sales 2018 6,32x
Capitalization 93 713 M
Chart PRICELINE.COM
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Priceline.com Technical Analysis Chart | PCLN | US7415034039 | 4-Traders
Technical analysis trends PRICELINE.COM
Short TermMid-TermLong Term
TrendsBullishNeutralNeutral
Income Statement Evolution
Consensus
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Mean consensus OUTPERFORM
Number of Analysts 33
Average target price 1 995 $
Spread / Average Target 4,4%
EPS Revisions
Managers
NameTitle
Glenn D. Fogel President & Chief Executive Officer
Jeffery H. Boyd Executive Chairman
Jeffrey H. Boyd Chairman
Daniel J. Finnegan Chief Financial & Accounting Officer
Nancy B. Peretsman Independent Director
Sector and Competitors
1st jan.Capitalization (M$)
PRICELINE.COM9.93%93 713
CTRIP.COM INTL6.24%24 533
EXPEDIA INC5.43%19 256
CHINA INT'L TRAVEL SERVICE CORP10.99%14 695
TRIPADVISOR2.87%4 923
FLIGHT CENTRE TRAVEL GROUP LTD10.38%3 944