Will Buybacks Propel Booking Holdings' Stock Price?
Booking Holdings (NASDAQ: BKNG) has been one of the best-performing stocks of the past 20 years. The operator of online travel booking websites including booking.com, kayak, and Priceline has shown solid growth for the past two decades. 2019 has seen growth slow at the company, leading the stock t0o trade off by as much as 20% from its all-time high in 2018. The company is taking advantage of the dip in stock price to buy back stock -- will this strategy pay off for shareholders?
When Booking turned in its Q2 2019 numbers in early August, investors were relieved to see the company beat expectations, but that didn't change the fact that growth has slowed significantly from the mid-teens rate of 2018. The company reported revenue growth of 8.9% and operating income growth of just 2.1% in Q2 2019 compared with Q2 2018.
Source Fool.com
