Priceline.com (Nasdaq: PCLN) shares are trading higher Tuesday
afternoon heading into the travel website's second-quarter 2012
earnings report, expected out after markets close.
The company will host a webcast at 4:30pm EDT.
to access the event.
Currently, the Street is looking for priceline.com to report a 34
percent gain in earnings to $7.37 per share on revenue of $1.36
billion. Estimize consensus views peg EPS at $7.36 on revs of
Traders might take a gander at priceline peer Expedia's (Nasdaq:
results for its second quarter
, issued at the end of July. Revs rose 14 percent while adjusted
net income popped 24 percent. Expedia also saw a 13 percent rise in
gross bookings with room night growth up 78 basis points to 22
One other key point is that Expedia is up 29.4 percent since it's
July 26th report, while priceline.com is up just 8.4 percent.
Investors might want to keep their eye on something like a
10-for-one stock split or some wording similar to that on the
conference call. If priceline.com is missing out on multitudes of
upside because its stock is more expensive than Apple or Google
shares without the same sentiment behind them, then management is
doing something wrong.
Data from Streetinsider's
has 18 analysts with a Buy, one at Neutral, and zero with a Sell
rating on priceline.com.
The Street's price target average is $744, ranging from $570 up to
Into the print, Benchmark is modeling EPS of $7.41. The firm thinks
priceline.com's guidance (gross bookings up 26 percent to 31
percent, domestic bookings up 5 percent to 10 percent, and proforma
EBITDA of $450 million to $470 million) should be conservative.
Benchmark said domestic bookings guidance includes a 5 percent
increased in ADRs, implying limited volume growth. The firm also
commented, "[w]e're also not convinced that the accelerating hotel
room-night growth, which carried into 2Q, dropped off as
precipitously over the balance of the quarter. We're forecasting
gross bookings may grow 32% y/y, including international gross
bookings growth of 38% and domestic bookings growth of 10%."
Stay tuned to StreetInsider.com's
section to see our analysis of the highly-anticipated quarterly
results within seconds of their release. You can also check out
priceline.com's past performance at Streetinsider's
priceline.com's Income Statement