Stock Update: priceline.com Incorporated (NASDAQ:PCLN) – Priceline unit Booking.com strikes Cuba deal for Americans

[Reuters] – Priceline Group has agreed with Cuba to make Cuban hotel rooms available to U.S. customers via subsidiary Booking.com, becoming the first U.S. online travel agency to strike a deal with the island’s government, a Booking.com executive said. The deal comes on the first full day of U.S. President Barack Obama’s visit to Cuba and on the heels of U.S. hotel firm Starwood Hotels & Resorts Worldwide’s agreement with the Cuban government to manage and market three Havana hotel properties. Read more on this. The Priceline Group Inc. (PCLN) , with a current market cap of $66.86B, ended session yesterday at $1,344.22. Today, shares have traded between $1,333.71 and $1,347.49 per share and has traded between $954.02 and $1,476.52 over the past year. Priceline (PCLN) shares are currently priced at 19.37x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s 14.98x earnings multiple for the same period. Consensus earnings for the current quarter by the 26 sell-side analysts covering the stock is an estimate of $9.65 per share, which would be $1.53 better than the year-ago quarter and a $0.16 sequential decrease. What we find to be interesting is that the full-year EPS estimate of $69.38 is a $11.05 improvement when compared to the previous year’s annual results. The quarterly earnings estimate is predicated on a consensus revenue forecast of $2.12 Billion. If reported, that would be a 15.22% increase over the year-ago quarter. Recently, Goldman downgraded PCLN from Buy to Neutral (Jan 27, 2016). Previously, Wells Fargo Initiated PCLN at to Market Perform. The average price target for PCLN shares is $1,469.00, which is 0.00% above where the stock opened this morning. See more in (NASDAQ:PCLN) Similar Articles: Stock Update: priceline.com Incorporated (NASDAQ:PCLN) – Booking.com Opens a World of Personalised Travel Possibilities With the Launch of Passion Search Market Update: priceline.com Incorporated (NASDAQ:PCLN) – The Priceline Group to Webcast 4th Quarter 2015 Financial Results on February 17th Stock Update: priceline.com Incorporated (NASDAQ:PCLN) – The Priceline Group to Webcast 3rd Quarter 2015 Financial Results on November 9