Priceline.com Inc. (PCLN) continued its impressive earnings history with another surprise. Analysts continue to raise estimates heading into the next report, which should be within the next few weeks.

Company Description

Priceline.com Incorporated has pioneered a unique e-commerce pricing system known as a “demand collection system” that enables consumers to use the Internet to save money on a wide range of products and services while enabling sellers to generate incremental revenue. Using a simple and compelling consumer proposition – Name Your Own Price – priceline.com collects consumer demand, in the form of individual customer offers guaranteed by a credit card, for a particular product or service at a price set by the customer.

Crushed Estimates

Priceline.com reported quarterly results on Nov 9 that showed a 33% jump in bookings. This lead to a 30% increase in revenues, to $731 million.

Net income for Priceline.com was $434 million, which led to earnings per share of $3.45. Heading into PCLN’s release the Zacks Consensus Estimate was $2.65, a 30% surprise. This was the fifth consecutive earnings surprise.

Earnings Momentum Continues

The Zacks Consensus Estimate for 2009 is now $7.54, up from $6.59. Next year’s estimates are averaging $9.63, up from $7.81.

On a year-over-year basis, these levels represent earnings growth of 48% and 28%, respectively.

Valuations

Shares of PCLN are trading at roughly 20 times forward earnings. Priceline.com’s investors are getting growth at a decent price, with a PEG of 1.2 times.

Zacks Investment Research

1. (PCLN) Priceline.com Inc. – Earnings Momentum ContinuesPriceline.com (PCLN) analysts continue to raise estimates following the most recent earnings report, which has...
2. (PCLN) Priceline.com – Bull of the DayPriceline.com (PCLN) is one of the leading online travel companies in the world. The company’s...
3. (PCLN) Priceline.com – Estimates Inching Higher – PEG Ratio is 1.3Priceline.com Inc. (PCLN) has been a solid performer since it was featured in August as...
4. (PCLN) Priceline.com Inc. – booked yet another double-digit earnings surprisePriceline.com Inc. (PCLN) blew estimates away once again despite recent reports of slower consumer spending....
5. (PCLN) Priceline.com – Aggressive Growth – Zacks Rank BuyPriceline.com, Inc. (PCLN) beat Wall Street’s expectations on May 11th. Earnings estimates and shares are...
6. (PCLN) Priceline.com Inc – Aggressive Growth – Zacks Rank BuyPriceline.com, Inc. (PCLN) just beat Wall Street’s expectations on Feb 18th. Earnings estimates and shares...

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