Q3 Preview: Expedia (EXPE) Looks to Book Solid Results
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Price: $268.69 +1.57%
Rating Summary:
21 Buy, 38 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 0 | Down: 0 | New: 2
Rating Summary:
21 Buy, 38 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 0 | Down: 0 | New: 2
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Shares of Expedia Inc. (NASDAQ: EXPE) are down 29 cents or 1.00 percent to $149.96 in midday market movement on Thursday, ahead of the company's third-quarter results scheduled to be released after the closing bell.
The company is expected by analysts to report third-quarter earnings of 58 cents per share on sales of $944.00 million.
Expedia reported second-quarter earnings of 44 cents per share, 2 cents better than the analyst estimate of 42 cents per share. Second-quarter revenue for the company was $834 million, compared to the Street's view of $845.42 million.
Since the start of the third quarter shares of the company are up $7.40 or 34.74 percent. Year-to-date the stock has risen $2.97 or 11.54 percent.
A valuation shows that Expedia is going for a forward P/E of 21.44x full-year 2010 estimates.
Data from Bloomberg shows that 10 analysts have a Buy rating on Expedia, 10 have Hold and zero have a Sell. The average analyst price target of $30 with a target range of $26 to $35.
Deutsche Bank maintains a Buy rating on Expedia with a price target of $30.
Deutsche Bank analyst says "Expedia should post better-than-expected 3Q results, driven by healthy demand in leisure travel and strong online media rates on the TripAdvisor front. We think company will report strong bookings driven by an early recovery of hotel ADRs aided by healthy transaction volumes. For guidance, we expect the outlook to be largely in line to expectations and
the company will likely reiterate its double-digit OIBA growth in the business."
On Tuesday, Soleil Raised its price target on Expedia from $33 to $35, while maintaining a buy rating on the stock.
Soleil analyst says, "We are raising estimates (3Q $0.62 to $0.63 vs. $0.58 consensus, 2011 $1.95 to $2.00 vs. $1.94 consensus) for EXPE in front of the 10/28 release, reflecting evidence of momentum and share gains in the US business. EXPE remains our top pick on that improving outlook and what we see as an attractive valuation."
The company is expected by analysts to report third-quarter earnings of 58 cents per share on sales of $944.00 million.
Expedia reported second-quarter earnings of 44 cents per share, 2 cents better than the analyst estimate of 42 cents per share. Second-quarter revenue for the company was $834 million, compared to the Street's view of $845.42 million.
Since the start of the third quarter shares of the company are up $7.40 or 34.74 percent. Year-to-date the stock has risen $2.97 or 11.54 percent.
A valuation shows that Expedia is going for a forward P/E of 21.44x full-year 2010 estimates.
Data from Bloomberg shows that 10 analysts have a Buy rating on Expedia, 10 have Hold and zero have a Sell. The average analyst price target of $30 with a target range of $26 to $35.
Deutsche Bank maintains a Buy rating on Expedia with a price target of $30.
Deutsche Bank analyst says "Expedia should post better-than-expected 3Q results, driven by healthy demand in leisure travel and strong online media rates on the TripAdvisor front. We think company will report strong bookings driven by an early recovery of hotel ADRs aided by healthy transaction volumes. For guidance, we expect the outlook to be largely in line to expectations and
the company will likely reiterate its double-digit OIBA growth in the business."
On Tuesday, Soleil Raised its price target on Expedia from $33 to $35, while maintaining a buy rating on the stock.
Soleil analyst says, "We are raising estimates (3Q $0.62 to $0.63 vs. $0.58 consensus, 2011 $1.95 to $2.00 vs. $1.94 consensus) for EXPE in front of the 10/28 release, reflecting evidence of momentum and share gains in the US business. EXPE remains our top pick on that improving outlook and what we see as an attractive valuation."
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