Expedia’s (EXPE) Buy Rating Reaffirmed at Needham & Company LLC
Needham & Company LLC restated their buy rating on shares of Expedia, Inc. (NASDAQ:EXPE) in a research report report published on Thursday. They currently have a $180.00 price target on the online travel company’s stock.
EXPE has been the topic of several other reports. Cantor Fitzgerald reiterated a buy rating and set a $178.00 price target on shares of Expedia in a research report on Wednesday, May 31st. Cowen and Company reissued an outperform rating and issued a $160.00 price objective on shares of Expedia in a research note on Friday, June 16th. Citigroup Inc. upgraded Expedia from a neutral rating to a buy rating and cut their price objective for the company from $147.89 to $130.00 in a report on Wednesday, June 28th. Zacks Investment Research upgraded Expedia from a hold rating to a buy rating and set a $167.00 price objective for the company in a report on Wednesday, July 5th. Finally, Argus initiated coverage on Expedia in a report on Wednesday, July 5th. They issued a buy rating and a $178.00 price objective for the company. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the stock. Expedia presently has an average rating of Buy and a consensus target price of $163.26.
Shares of Expedia (EXPE) opened at 143.94 on Thursday. The firm has a 50-day moving average price of $146.32 and a 200 day moving average price of $141.84. The firm has a market cap of $21.83 billion, a price-to-earnings ratio of 67.74 and a beta of 0.93. Expedia has a 12-month low of $111.88 and a 12-month high of $161.00.
Expedia (NASDAQ:EXPE) last announced its earnings results on Thursday, July 27th. The online travel company reported $0.89 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.94 by ($0.05). The firm had revenue of $2.59 billion for the quarter, compared to the consensus estimate of $2.55 billion. Expedia had a return on equity of 10.98% and a net margin of 3.49%. Expedia’s revenue for the quarter was up 17.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.83 EPS. On average, equities research analysts anticipate that Expedia will post $5.00 earnings per share for the current fiscal year.
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The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 14th. Investors of record on Thursday, August 24th were issued a $0.30 dividend. The ex-dividend date of this dividend was Tuesday, August 22nd. This represents a $1.20 dividend on an annualized basis and a yield of 0.83%. This is an increase from Expedia’s previous quarterly dividend of $0.28. Expedia’s dividend payout ratio is currently 56.87%.
In other Expedia news, CEO Dara Khosrowshahi sold 86,228 shares of the business’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 value of $13,289,459.36. Following the completion of the sale, the chief executive officer now directly owns 518,576 shares of the company’s stock, valued at $79,922,933.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Mark D. Okerstrom sold 12,500 shares of the business’s stock in a transaction that occurred on Monday, August 7th. The stock was 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 directly owns 71,248 shares of the company’s stock, valued at $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. Insiders own 20.88% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in EXPE. Cleararc Capital Inc. lifted its stake in shares of Expedia by 0.5% in the 1st quarter. Cleararc Capital Inc. now owns 2,948 shares of the online travel company’s stock valued at $372,000 after purchasing an additional 16 shares during the last quarter. Merriman Wealth Management LLC boosted its holdings in Expedia by 1.4% in the second quarter. Merriman Wealth Management LLC now owns 2,139 shares of the online travel company’s stock worth $319,000 after purchasing an additional 29 shares in the last quarter. Blair William & Co. IL boosted its holdings in Expedia by 0.6% in the second quarter. Blair William & Co. IL now owns 4,998 shares of the online travel company’s stock worth $744,000 after purchasing an additional 30 shares in the last quarter. First Allied Advisory Services Inc. boosted its holdings in 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 worth $412,000 after purchasing an additional 35 shares in the last quarter. Finally, Nordea Investment Management AB boosted its holdings in Expedia by 0.8% in the second quarter. Nordea Investment Management AB now owns 4,996 shares of the online travel company’s stock worth $744,000 after purchasing an additional 38 shares in the last quarter. Institutional investors and hedge funds own 84.38% 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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