(PCLN) Priceline.com – Estimates Inching Higher – PEG Ratio is 1.3

October 6th, 2009

Priceline.com Inc. (PCLN) has been a solid performer since it was featured in August as a Zacks Rank Buy.

Company Description

Priceline.com is a web-based discount travel service. The company allows customers to choose their own prices on air fare, hotels, and other vacation related services. Priceline.com gives providers of the aforementioned services incremental income by booking vacancies that may have otherwise gone unfilled.

Estimates Inching Higher

The Zacks Consensus Estimate for this year is up a penny, to $6.70, for an earnings growth rate of 32% on the year. Next year’s average forecast rose 8 cents, to $7.94, which is another 18% of growth.

Valuations

Shares have been rising, but the estimates have not kept pace. I am looking for estimates to continue to rise for the travel company though. One share is currently running about 24 times forward earnings. The PEG ratio is 1.3.

The Chart

Priceline.com has developed a nice upward trend, but is hitting some resistance near $170 per share. Look for the trend to continue as shares consolidate before breaking through. Take a look at the chart below.

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More on this topic (What's this?)
Priceline.com (NASDAQ: PCLN): Q4 Earnings Preview 2009 (Stock Wizard, 2/16/10)
Do You Own PCLN, Up $30 on Tuesday?? (Scott's Investments, 11/12/09)
Hedge Fund D.E. Shaw & Co Boosts Priceline.com (PCLN) Stake (market folly, 9/15/09)
PCLN (All Allan, 2/17/10)
Read more on Priceline.com, Price to Earnings Growth at Wikinvest


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