What's Going On With Booking Holdings Stock After Earnings?

Booking Holdings, Inc. BKNG shares are trading lower Friday after the company reported fourth-quarter financial results after the bell Thursday. Here's a look at what to know.

The Details:

Booking Holdings reported quarterly earnings of $32.00 per share which beat the analyst consensus estimate of $29.86 by 7.17% and is a 29.35% increase over earnings of $24.74 per share from the same period last year.

The company reported quarterly sales of $4.78 billion, beating the analyst consensus estimate of $4.71 billion by 1.61% and representing an 18.15% increase over sales of $4.05 billion from the same period last year.

Booking also initiated a quarterly cash dividend of $8.75 per share, payable on March 28 to shareholders of record as of the close of business on March 8 and said it expects to pay a cash dividend on a quarterly basis going forward.

RBC Capital analyst Brad Erickson maintained Booking Holdings with an Outperform and raised the price target from $3550 to $3900, and Wedbush analyst Scott Devitt reiterated Booking Holdings with an Outperform and maintained a $3850 price target following the print. 

Related News: Booking Reports Q4 Results: Earning Beat, Revenues Beat, Initiates Dividend

BKNG Stock Prediction 2024:

Booking Holdings’s revenue growth in FY23 was 25.01%, reflecting the influence of various factors including the macroeconomic environment, demand for its products and services, and its position relative to competitors. This growth is a critical indicator for investors assessing the company’s future prospects.

Some macro factors that could impact the company's performance in the next year include higher interest rates, progress on reeling in inflation and labor market strength. The Fed's benchmark rate is currently at 5.33%, while PPI recently came in at 0.3%, growing 0.9% from last year. The unemployment rate was most recently reported as 3.7%.

An investor should pay attention to economic conditions to decide whether they think the macro environment is positive or negative for Booking Holdings stock. For real time economic data and breaking market updates, check out Benzinga Pro. Try it for free.

BKNG Price Action: According to Benzinga Pro, Booking Holdings shares are down 9.58% at $3,528.30 at the time of publication.

Image: Courtesy of Booking Holdings, Inc.