|Bid||0.00 x 800|
|Ask||0.00 x 800|
|Day's Range||51.16 - 53.89|
|52 Week Range||40.76 - 144.00|
|Beta (5Y Monthly)||1.45|
|PE Ratio (TTM)||14.01|
|Earnings Date||Apr 29, 2020 - May 03, 2020|
|Forward Dividend & Yield||1.36 (2.79%)|
|Ex-Dividend Date||Mar 08, 2020|
|1y Target Est||106.22|
LOS ANGELES, CA / ACCESSWIRE / April 3, 2020 / The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Expedia Group, Inc. ("Expedia" or "the Company") (NASDAQ:EXPE) for violations of securities laws. The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
LOS ANGELES, CA / ACCESSWIRE / April 2, 2020 / The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Expedia Group, Inc. ("Expedia" or "the Company") (NASDAQ:EXPE) for violations of securities laws. The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
Mandatory social distancing orders may be slowing the spread of COVID-19 in the Seattle area, home to the first coronavirus death in the U.S., but the city’s mayor, Jenny Durkan, warned against complacency, saying the Puget Sound region is still “a month or two away” from relaxing isolation rules.
LOS ANGELES, CA / ACCESSWIRE / March 31, 2020 / The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Expedia Group, Inc. ("Expedia" or "the Company") (NASDAQ:EXPE) for violations of securities laws. The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
The entire stock market is taking a beating from the coronavirus (COVID-19) outbreak, but travel bans and quarantines around the world have ground the travel industry to a halt.Travel stocks have plummeted to multi-year lows. While some investors see the sell-off as a long-term opportunity to invest at a discount, others see a long road ahead for the global travel industry to recover. For now, stock selection could be critical as many of the top companies in the travel space have challenged balance sheets and essentially zero business for the time being.Here are nine travel and leisure stocks to buy, sell and hold, according to CFRA.Booking Holdings Inc (NASDAQ: BKNG) - Hold Booking is a global online travel company and the owner of popular brands such as Priceline, Kayak and OpenTable.Analyst Tuna Amobi says there is simply too much uncertainty to buy the stock at this point after it completely withdrew its financial guidance on March 9. Booing relies heavily on travel in Europe and North America, where CFRA expects COVID-19 to have a major impact. On its most recent earnings call, management said COVID-19 had already triggered significant cancellations, reductions in new bookings and pricing pressures in Asia, which represents more than 20% of Booking's total room nights.CFRA has a Hold rating and $1,177 price target for BKNG stock.Benzinga is covering every angle of how the coronavirus affects the financial world. For daily updates, sign up for our coronavirus newsletter.Carnival Corp (NYSE: CCL) - Sell The cruise lines may end up being the epicenter of the COVID-19 shutdown. Not only are cruise lines in the travel business, it's 100% leisure travel. A certain amount of business travel is necessary, and businesses will likely push to return to normal well before leisure travelers do. In addition, a large portion of cruise customers are retirees, an age group most at-risk from COVID-19.Amobi says Carnival will likely get slammed by costs and lost revenue related to cancellations, travel restrictions and general aversion to leisure travel, especially on a ship with thousands of other travelers.CFRA has a Sell rating and $12 price target for CCL stock.Expedia Group Inc (NASDAQ: EXPE) - Hold Expedia is the top online travel competitor to Booking and owner of brands such as Vrbo, Orbitz and Hotels.com. On Feb. 13, Expedia said the COVID-19 outbreak in Asia would impact its first-quarter EBITDA by up to $40 million. On March 13, the company completely withdrew its financial guidance and said its previous $30 to $40 million estimates were too conservative.Amobi said investors should expect Expedia's earnings, cash flow and financial condition to take a pounding. Much like Booking, there's no way to accurately forecast the company's near-term outlook, so investors should proceed with caution.CFRA has a Hold rating and $49 price target for EXPE stock.Hyatt Hotels Corporation (NYSE: H) - Hold Hyatt is one of the world's largest hotel and hospitality companies. Its portfolio is comprised of more than 900 properties and 223,000 rooms in 29 different countries, but 83% of its 2019 revenue came from the U.S.Like most other travel companies, Hyatt completely withdrew its guidance on March 2. It had previously been calling for 2020 comparable systemwide RevPAR growth of between -0.5% and +1.5% and EBITDA of between $760 million and $780 million. Amobi says COVID-19 will obviously have an extremely negative impact on the hotel business, and things could get ugly for Hyatt until investors see a clear light at the end of the tunnel.CFRA has a Hold rating and $47 price target for H stock.Las Vegas Sands Corp. (NYSE: LVS) - Hold Las Vegas Sands is one of the world's largest casino companies, operating resorts in the U.S., Macau, China and Singapore. Sands' U.S. properties are completely shut down due to COVID-19, but the good news for investors is that the U.S. accounts for a relatively small percentage of its total revenue.In 2019, Sands generated 63% of its revenue in Macau, 22% in Singapore and only about 15% in Las Vegas and Bethlehem, PA. Macau casinos are already opened back up after a 15-day shutdown, but analysts are anticipating March Macau gross gaming revenue could still be down more than 70%, according to analyst estimates.CFRA has a Hold rating and $43 price target for LVS stock.Marriott International Inc (NASDAQ: MAR) - Hold Marriott is the world's largest hotel and hospitality company and owner of brands such as the Ritz-Carlton, St. Regis and Courtyard. Roughly 80% of the company's revenue comes from North America. Marriott withdrew its 2020 guidance on March 18 and said COVID-19 was significantly impacting its business across the board. Management said Asia-Pacific RevPAR was down nearly 25% in the months of January and February, while North American RevPAR was up 3.5% in that period.The silver lining for investors is that as of March 18, the picture in China had improved for Marriott, with only 30 China hotels remaining closed compared to 90 in the month of February.CFRA has a Hold rating and $75 price target for MAR stock.MGM Resorts International (NYSE: MGM) - Sell Of the big three American international casino operators, MGM has the most business concentrated within the U.S. In 2019, 47% of MGM's revenue came from the Las Vegas Strip, 29% came from other U.S. regional operations and just 24% came from Macau.From March 13 to March 16, MGM announced temporary closures of all its U.S. properties, essentially dropping more than 75% of its revenue inflow to zero. The closures remain in effect until further notice and will last at least through mid-April in Las Vegas per a statewide order. MGM has said furloughed employees will get two weeks of pay during the closures.CFRA has a Sell rating and $9 price target for MGM stock.See Also: 8 Best Investment Strategies During A RecessionNorwegian Cruise Line Holdings Ltd (NYSE: NCLH) - Sell The good news for Norweigian investors is that Amobi recently said he sees relatively limited near-term downside for the stock after its 79.3% sell-off in the past three months.Norweigan's most recent commentary suggests the negative impacts of the COVID-19 outbreak will hurt the company's business through at least the third quarter. Amobi said the company's plans for between $1 billion and $1.5 billion in 2020 capital returns are likely out the window as it focuses on its balance sheet. In reality, customer fears may have a lasting impact on the cruise industry for years to come.CFRA has a Sell rating and $9 price target for NCLH stock.Spirit Airlines Incorporated (NYSE: SAVE) - Buy Analyst Colin Scarola says it's mostly pointless to forecast financial outlooks for most airline stocks given the uncertainty related to the COVID-19 outbreak. At the same time, that uncertainty makes it extremely difficult to recommend buying any of the "big four" U.S. international airline stocks, no matter how appealing their valuations get relative to normalized earnings.However, CFRA maintains a Buy rating for Spirit, and Scarola said Spirit was turning the corner financially prior to the outbreak, including reporting positive free cash flow in 2019 for the first time in six years.In addition to the Buy rating, CFRA has a $48 price target for SAVE stock.Latest Ratings for CCL DateFirmActionFromTo Mar 2020Wells FargoDowngradesOverweightUnderweight Mar 2020SunTrust Robinson HumphreyMaintainsHold Mar 2020Goldman SachsDowngradesBuyNeutral View More Analyst Ratings for CCL View the Latest Analyst RatingsSee more from Benzinga * BofA Slashes Casino Price Targets, Sees Buying Opportunities * Wynn, MGM Shut Vegas Casinos Due To Coronavirus; Other States Force Pause In Gaming * Q4 13F Roundup: How Buffett, Einhorn, Ackman And Others Adjusted Their Portfolios(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Faced with a backlash over its unilateral decision to refund guest reservations and leave hosts empty-handed while competitors took a more balanced approach, Airbnb co-founder and CEO Brian Chesky apologized to hosts, and detailed a $260 million Airbnb relief package. In a letter to hosts sent Monday (embedded below) , Chesky said that the decision […]
While some travel sectors such as airlines have virtually eliminated U.S. national TV advertising because of the coronavirus pandemic, there are some companies that are outliers in that they quickly pivoted their spots, or keep running the routine ads at the risk of brand damage. ISpot.tv, the U.S. television advertising analytics firm, looked at March […]
(Bloomberg) -- Sony Corp. said fallout from the coronavirus may wipe out a previously projected increase in its profit and force it to delay an earnings report scheduled for April.The Japanese company said two factories in China are returning to normal operation but continue to face component shortages, while facilities in Malaysia and U.K. will remain shut until middle of April because of government requests. Sony said it can’t dispatch employees to these locations to discuss assembly of new products.Sony had raised its forecast on Feb. 4, saying operating income will probably reach 880 billion yen ($8.1 billion) in the year ending March 31, compared with the 840 billion yen forecast in October. If profit comes in at the earlier figure, that would be a shortfall of about $370 million.“Given their high exposure to consumer spending, it is not surprising that COVID-19 is having an adverse impact on their business,” said Damian Thong, an analyst with Macquarie Capital.Sony joins a growing list of corporations forced to revise or scrap financial forecasts because of the virus.Apple Inc., Expedia Group Inc., and Twitter Inc. are among the technology companies that have withdrawn or modified guidance in the wake of the pandemic, which has disrupted supply chains, upended demand and forced millions of people to work from home. On Thursday, Dell Technologies Inc. and VMWare Inc. became the latest to withdraw their earnings outlooks.Sony had been benefiting from strong demand for the image sensors that power smartphone cameras, but production and sales of such devices have taken a hit in recent weeks. It supplies Apple and Samsung Electronics Co., among others.A Sony spokeswoman said it doesn’t see any notable impact on the launch of its next-generation game console PlayStation 5 planned at the end of this year.Sony shares have slid about 10% this year.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
LOS ANGELES, CA / ACCESSWIRE / March 26, 2020 / The Schall Law Firm , a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Expedia Group, Inc. ...
Expedia Group Inc. shares are off 6% in premarket trading Thursday after Goldman Sachs analyst Heath Terry downgraded the stock to sell from neutral. While he acknowledged that there was risk to downgrading Expedia's stock with travel widely understood to be in a "depressed state," he sees a high risk that investors "may be overly optimistic about the prospects for a sharp recovery in online travel or Expedia's ability to fully participate given the company's balance sheet and the need to reduce costs and investments." He expects that Expedia will manage its balance sheet by cutting marketing costs and accelerating a reduction in headcount, and negotiating debt covenants, among other things, but he is worried that the company's actions could hinder its competitive positioning. "We see Booking Holdings as best positioned in the space for the eventual recovery, with its more favorable mix of business and stronger balance sheet," Terry wrote, as he has a neutral rating on that stock. Expedia shares have lost 35% over the past month, while Booking's has dropped 19% and the S&P 500 has fallen 21%.
Free links from travel companies are now appearing dramatically higher in Google Search on desktop and mobile — but it isn't because regulators have clamped down on the search engine or Google has reformed its advertising-tilted business practices. The dearth of travel advertising because of the coronavirus pandemic has made Google's pages look almost unrecognizable. […]
(Bloomberg) -- Google and other digital advertising companies are seeing revenue growth wither as marketers slash spending ahead of an expected recession triggered by the coronavirus.The global pandemic and the ensuing slump in economic activity is crushing several industries that have been big buyers of Google and Facebook Inc. ads, including online travel agents, automakers, restaurants and retail.“I’m hearing some big numbers, with ad spending down 30% to 50% across the board,” said Rob Griffin, founder of digital ad consulting firm G5 Futures. Some marketers will slash budgets by 80% or 90%, while others may stop for a while if they’re in sectors that are particularly hard hit, he added.Millions of people are sheltering at home and spending more time on social media, video streaming and other online services. That’s increasing the amount of digital ad space, but demand for those marketing spots is weak, so prices are falling.“The consumption is irrelevant, it’s completely irrelevant,” said Brian Wieser, president of business intelligence for GroupM, the media buying arm of advertising giant WPP Plc. “The total amount of money available is independent of viewership trends.”Facebook warned on Tuesday that its ad business is weakening in countries that are aggressively fighting the virus. Many of its services are being used more, such as messaging, but they don’t run ads, the company added. The day before, Twitter Inc. said usage has jumped, but global advertising is curbed, forcing the social-media company to slash its sales forecast and project a loss in the current quarter.“The sudden impact of the COVID-19 virus will ripple through the ad market,” Michael Nathanson, an analyst at Moffettnathanson LLC, wrote in a note to investors. “Given the sheer size of digital ad spending in today’s marketplace (i.e., more than 50% of all ad spend is now digital), we would expect other digital platforms to see significant deceleration in ad revenues in the coming months.”“We would suggest investors avoid catching falling knives at Google and Facebook,” he added.Google declined to comment on its ad business on Tuesday. On the company’s YouTube video service, viewing has jumped in the past week, but CPMs, the industry’s way of measuring ad prices, fell as much as 8%, according to one digital media executive who asked not to be identified discussing private figures.Shares of Google parent Alphabet Inc. and Facebook are down about 25% since the middle of February, so some of the digital ad downturn may already been priced in. Facebook stock dipped about 1% in extended trading after its warning. Alphabet was little changed.Longer term, Google and Facebook have big cash hoards and little debt, so they can withstand a deep recession, according to Bloomberg Intelligence internet analyst Jitendra Waral.The last major economic downturn was a boon to these companies. The 2008 financial crisis triggered a similar slump in advertising, but much of that was focused on traditional media. Online platforms took advantage of the moment, and pitched their ads as cheaper, more-targeted alternatives. Now, digital ads take in more than $300 billion a year from the largest corporations to the smallest businesses. Google and Facebook account for more than half of that, according to research firm EMarketer.Singapore Shuts Bars; India on Nationwide Lockdown: Virus UpdateLast week, as the scale of the crisis hit home, ad agency executives worked the phones, trying to help clients figure out what to do next. Some pulled out completely while others raced to adjust the tone of their ads.“You have industries that were extremely active as of a week ago come to a screeching halt: restaurants, travel, retail,” said Doug Rozen, chief media officer at advertising agency 360i. Other companies are still spending, but being more conservative, he added.Google and Facebook derive much of their revenue from small businesses, thousands of which could shut if a deep recession sets in. Both internet companies offer self-service ad platforms that can be switched off quickly.“Advertising is the easiest expense to cut, you can literally log into Google Ads and turn it off and start saving money,” said Ari Paparo, head of digital ad firm Beeswax Inc. and a former Google executive.Amazon.com Inc. recently cut back drastically on how much money it spends on Google ads. The online retailer is one of Google’s largest ad buyers, usually snapping up product listing ads to lure web shoppers to Amazon.Expedia Group Inc. and Booking Holdings Inc. each spend hundreds of millions of dollars a year marketing on Google, but these online travel agents have been hammered by the abrupt halt in flights, business trips and vacations.Booking Withdraws Already-Bleak Forecast, Citing CoronavirusBooking Holdings has pulled back “materially” on brand advertising, RBC Capital Markets analyst Mark Mahaney wrote in a recent research note after meeting executives from the online travel company. The industry accounts for about 10% to 15% of Google’s ad revenue, with Booking and Expedia accounting for about 3% each, Mahaney estimates.Even businesses that don’t sell through the internet often purchase Google ads to encourage people to visit their brick-and-mortar locations. Last week, Being Yoga, a yoga studio about 15 miles south of San Francisco, was still buying Google search ads, based on the query “yoga near me,” despite being closed. Bloomberg News contacted the business, which said it had forgotten to switch the ads off.Retailers often buy Google local inventory ads that show online shoppers whether products are stocked in nearby stores. With many non-essential retailers shutting locations, demand for these ads may slow.“If stores are closed, we absolutely recommend they turn off local inventory ads,” a Google spokeswoman said.Real numbers showing the virus’ impact are beginning to emerge from China, which was hit first and shut down travel and non-essential businesses weeks ago.Advertising sales on China’s big digital platforms are projected to drop 20% to 30% in the first quarter of the year, WPP’s Wieser said. Automobile ads slumped 79% in China in February, a far steeper decline than any time during the 2008 financial crisis, he also noted. Most Google services are unavailable in mainland China, but in the rest of the world, automakers are another big ad customer.Even industries that are seeing higher demand, like consumer goods, are unlikely to advertise more right now. “Why would you advertise toilet paper right now? It’s not helpful,” Wieser said. “They want to curtail demand.”(Updates with YouTube ad prices in ninth paragraph.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Is an Airbnb inherently safer than a hotel stay during a post-coronavirus environment? And will Airbnb be better positioned than other companies to lead the future of travel? Airbnb is seeking new private funding, with about 20 investors expressing interest, but Skift subsequently obtained a confidential memo sent to suitors about a consumer survey as […]
LOS ANGELES, CA / ACCESSWIRE / March 23, 2020 / The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Expedia Group, Inc. ("Expedia" or "the Company") (NASDAQ:EXPE) for violations of securities laws. The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
Large employers face pressure to comply with a Washington law that requires companies lower drive-alone rates. Many tech companies, however, are ahead of the curve.
Airbnb had $2 billion cash on hand at the end of 2019, but with losses mounting, and a direct listing or an initial public offering impossible as coronavirus-burdened stock markets flop, the short-term rental giant may try to raise funding privately from new investors. [Update: A source close to Airbnb said some 20 parties, including […]
(Bloomberg) -- Airbnb Inc.’s board met this week to consider a wide range of options in response to the current economic crisis, which is weighing heavily on the business. The potential moves include acquiring distressed assets, raising more funding from private investors and revising plans for a stock market debut scheduled for this year, people familiar with the deliberations said.The home-rental startup has been approached by a dozen potential investors, according to the people, all of whom asked not to be identified discussing private information. The investors include venture capitalists, private equity firms and sovereign wealth funds, with potential deals ranging in size from $100 million to $1 billion, the people said. None of them has set a price tag for the company, but Airbnb is unlikely to maintain the $31 billion valuation it enjoyed during the bull market.At the same time, Airbnb is actively looking at acquiring distressed companies, particularly short-term rental providers, one of the people said. One possible contender is Sonder Inc., a San Francisco-based startup that lists rental units on Airbnb’s website. Sonder’s bookings are projected to decline 90% as a result of the pandemic, possibly extending to 2021, another person said. However, two people close to Sonder said it hasn’t engaged in deal talks. “Sonder is not for sale or being sold,” a spokesman for the startup said.The situation at Airbnb reflects a grave sense of uncertainty and panic felt across the business landscape, which is forcing most companies to reevaluate plans. Airbnb has said it would go public this year, but the coronavirus pandemic has taken a steep toll on the travel industry. Countries are closing borders to curb the spread of infection, and many places are going into lockdown. Booking Holdings Inc. and Expedia Group Inc. withdrew financial forecasts, citing the worsening impact of the virus, and hotels are seeking federal aid.Before the crisis, Airbnb had been leaning toward listing its shares directly for trading on the stock market this year without raising additional capital. It’s now reevaluating that position and may instead pursue a more traditional initial public offering to raise cash for the business, people familiar with the matter said. Airbnb, which was unprofitable before the outbreak, faces the likelihood of much steeper losses this quarter and next, after offering refunds for all reservations through at least April 14.Members of the Airbnb board are divided over the best way forward. The company has about $3 billion of cash and a $1 billion line of credit, people familiar with the matter said. CNBC earlier reported some details of the approaches from investors.“There is no way any company in the tourism industry is going public this year, absolutely no way,” said Greg Klassen, a travel industry strategist at consultancy Twenty31 with more than 25 years experience. “You need multiple quarters of profitability and to look like you’re in full control with nothing but blue sky ahead to help with valuations -- and none of those things are true today.”Large investors, including some of Airbnb’s own backers, have privately expressed concerns that the pandemic will dent the company’s results for the duration of the year and perhaps longer. In recent weeks, that uncertainty has been reflected in stock trading among private investors. The offer price for Airbnb shares have fallen to $105 as of Friday, from $150 before the pandemic.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Like every sector in the travel industry, the short-term rental industry confronts a struggle to survive because of the novel coronavirus crisis. But when it comes to guest cancellation and refund policies, companies such as Airbnb, Vrbo, Booking.com, Tripadvisor, property management companies, and local players face an acute quandary — generate outrage from guests, or […]
As corporations draw down on revolving credit lines to combat the expected adverse effects on earnings of the coronavirus pandemic, the ability of US and global banks to provide liquidity has come into question. The decision to borrow typically undrawn financings has echoes of the 2008 financial crisis when companies drew down on unfunded credit lines, taking the banks by surprise, and putting a significant strain on their deposits. "Beyond the underlying stress that is driving these draws, questions have been raised about banks' ability to meet the funding demands and the implications for capital ratios and asset quality," Barclays Capital analysts wrote in a Thursday research report.
SunTrust Robinson Humphrey analyst Naved Khan repeated his Buy ratings on Booking Holdings, the operator of Booking.com, Expedia and Tripadvisor.
In an internal letter to employees, Expedia Group Vice Chairman Peter Kern told staff to set aside any projects that don't contribute to meeting the company's immediate needs and exhorted employees to help travel partners find business anywhere they can. “If you’re wondering how we might help our travel partners survive all this, well, our […]