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News Breaks
August 8, 2014
11:44 EDTPCLNEarnings Preview: Analysts expect Priceline to exceed Q2 expectations
Online travel company Priceline (PCLN) is scheduled to report second quarter earnings before the market open on Monday, August 11, with a conference call scheduled for 7:30 am ET. The company offers room reservations at nearly 300,000 hotels worldwide. EXPECTATIONS: Analysts are looking for earnings per share of $12.04 on revenue of $2.15B, according to First Call. The consensus range for EPS is $11.62-$12.93 on revenue of $2.09B-$2.42B. LAST QUARTER: Priceline reported first quarter EPS of $7.81 against estimates for $6.92 on revenue of $1.64B against estimates for $1.63B. The company gave Q2 guidance of $11.22-$12.02 and Q2 revenue growth of 19%-29%. It also expected Q2 to increase in total gross travel bookings of 22%-32%. NEWS AND STREET RESEARCH: The company announced in June that it agrees to acquire OpenTable for $103 per share, or $2.6B, and expects the deal to be slightly accretive to FY14 EPS. It sees plenty of room to grow OpenTable to justify the price it paid, adding that OpenTable's payment solution definitely factored in their purchase. Following the purchase, Piper Jaffray said the company will continue to extend into more related categories and believes the merger is synergistic in multiple ways. JMP Securities adds that the acquisition is "highly strategic". FBR Capital said Priceline's latest property count for Booking.com show strong Q2 growth and points to potential earnings upside. Piper Jaffray also said that industry data points to strong Q2 for online travel names, with Priceline specifically with the potential for upside. Ahead of earnings, JMP Securities said Priceline's Q2 results should surpass expectations boosted by a healthy global travel market. PRICE ACTION: Over the last three months, Priceline shares are up about 15%. In afternoon trading on Friday, shares were down 0.9% to $1,273.69.
News For PCLN From The Last 14 Days
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October 20, 2014
16:24 EDTPCLNPriceline raises stake in Ctrip.com to 7.9% from 6.88%
October 10, 2014
16:22 EDTPCLNPriceline raises stake in Ctrip.com to 6.88% from 5.84%
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October 9, 2014
14:43 EDTPCLNPriceline.com August volatility flat as shares trend lower
Priceline.com October call option implied volatility is at 25, November is at 28, January is at 25; compared to its 26-week average of 28 according to Track Data, suggesting non-directional price movement.

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