(CTRP) Ctrip.com International – Momentum – Zacks Rank Buy

June 10th, 2009

Ctrip.com International (CTRP) took a steep fall last year when the market weakened. But the company is once again on the upswing, with estimates and its share price rallying.

Company Description

Ctrip.com International Ltd., together with its subsidiaries, provides travel services for hotel accommodations, airline tickets and packaged tours out of China. The company was founded in 1999 and has a market cap of $3 billion.

First-Quarter Results

Ctrip’s share price is recovering nicely after falling from its all-time amongst general market volatility. The company’s recent first-quarter results, reported on May 12, gave this stock a nice pop higher.

Revenue was up 18% from last year to $59 million. Income came in at $18 million, a 23% improvement from last, producing earnings of 26 cents per share, 6 cents ahead of the consensus estimate.

Segment Results

Ctrip noted that hotel reservation revenue was up 9% to $27 million while airline ticketing revenue was up 16% to $27 million.

Estimates Jump

After the solid quarter, analysts raised their earnings estimates. The current-year estimate is up 18 cents in the last 60 days to $1.11 per share.

The next-year estimate is up 21 cents to $1.43 per share, a 29% earnings growth projection.

Valuations

Based upon the current-year estimate, this stock isn’t exactly cheap, carrying a P/E multiple of 31X, a steep premium to the overall market.

The Chart

As previously mentioned, shares of CTRP have been rallying since bottoming out in early March just above $18, having since topped $45. Take a look at the chart below.

Zacks Investment Research
View original at: Zacks.com News Feed

More on this topic (What's this?)
Ctrip.com: Is This Risky Stock Worth It? (Investment Underground » Page n..., 1/23/12)
CTRP: A Great Growth Stock for a Changing World (The Iconoclast Investor, 6/18/09)
Ctrip.com (CTRP) - Steady as Always (Fund my Mutual Fund, 5/14/09)
Stephen Mandel's Lone Pine Capital Files 13G on Ctrip.com (CTRP) (market folly, 3/16/09)
Read more on Ctrip.com International at Wikinvest

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