Trip.com Group (NASDAQ:TCOM) Downgraded to Hold Rating by HSBC

Key Points

• HSBC downgraded Trip.com Group from “buy” to “hold,” while other analysts lowered price targets or issued mixed ratings. Despite this, the consensus remains “Moderate Buy” with a target price of $62.45.
• Trip.com shares fell $2.48 to $41.15, near the lower end of their 12-month range of $38.04 to $78.99, with a market capitalization of approximately $26.73 billion.
• The company’s latest quarter showed revenue growth of 17.2% year over year to $2.35 billion, but earnings per share of $0.83 narrowly missed analysts’ $0.85 estimate.

Trip.com Group (NASDAQ:TCOM - Get Free Report) was downgraded by analysts at HSBC from a "buy" rating to a "hold" rating in a note issued to investors on Thursday, Marketbeat reports.

A number of other research firms also recently commented on TCOM. Citigroup dropped their price objective on shares of Trip.com Group from $64.00 to $62.00 and set a "buy" rating for the company in a research note on Thursday, July 30th. Benchmark restated a "buy" rating on shares of Trip.com Group in a report on Tuesday, July 28th. Barclays reduced their price target on Trip.com Group from $75.00 to $60.00 and set an "overweight" rating for the company in a report on Friday, June 26th. Weiss Ratings lowered Trip.com Group from a "hold (c)" rating to a "hold (c-)" rating in a research report on Monday. Finally, Zacks Research downgraded Trip.com Group from a "hold" rating to a "strong sell" rating in a research note on Tuesday, June 30th. Nine analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Trip.com Group currently has an average rating of "Moderate Buy" and a consensus target price of $62.45.

Trip.com Group Stock Performance

TCOM stock traded down $2.48 during trading on Thursday, reaching $41.15. The company had a trading volume of 1,070,163 shares, compared to its average volume of 3,333,194. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.53 and a current ratio of 1.53. Trip.com Group has a twelve month low of $38.04 and a twelve month high of $78.99. The company has a market cap of $26.73 billion, a price-to-earnings ratio of 6.43, a price-to-earnings-growth ratio of 3.49 and a beta of -0.05. The firm has a 50-day simple moving average of $44.02 and a 200-day simple moving average of $48.45.

Trip.com Group (NASDAQ:TCOM - Get Free Report) last issued its quarterly earnings data on Thursday, June 25th. The company reported $0.83 EPS for the quarter, missing the consensus estimate of $0.85 by ($0.02). Trip.com Group had a net margin of 48.26% and a return on equity of 17.57%. The business had revenue of $2.35 billion during the quarter, compared to analyst estimates of $2.30 billion. During the same period in the previous year, the business posted $0.82 earnings per share. The firm's revenue for the quarter was up 17.2% on a year-over-year basis. As a group, sell-side analysts expect that Trip.com Group will post 3.14 earnings per share for the current year.

Institutional Trading of Trip.com Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TCOM. Brown Brothers Harriman & Co. raised its holdings in shares of Trip.com Group by 237.3% in the 4th quarter. Brown Brothers Harriman & Co. now owns 398 shares of the company's stock worth $29,000 after buying an additional 280 shares in the last quarter. TD Private Client Wealth LLC acquired a new position in shares of Trip.com Group in the 4th quarter valued at $31,000. Caitong International Asset Management Co. Ltd boosted its holdings in shares of Trip.com Group by 601.3% in the third quarter. Caitong International Asset Management Co. Ltd now owns 554 shares of the company's stock valued at $42,000 after buying an additional 475 shares during the period. NewEdge Advisors LLC lifted its position in shares of Trip.com Group by 384.6% in the first quarter. NewEdge Advisors LLC now owns 567 shares of the company's stock worth $36,000 after purchasing an additional 450 shares in the last quarter. Finally, First Horizon Corp raised its stake in shares of Trip.com Group by 69.3% during the 1st quarter. First Horizon Corp now owns 611 shares of the company's stock worth $30,000 after purchasing an additional 250 shares in the last quarter. Institutional investors and hedge funds own 35.41% of the company's stock.

Trip.com Group Company Profile

Trip.com Group NASDAQ: TCOM is a China-based online travel services company that provides a broad range of consumer and business travel products. The company operates consumer-facing travel platforms and mobile apps that enable users to search, book and manage hotel reservations, airline tickets, packaged tours, rail travel, car rentals, airport transfers and local activities. It also offers corporate travel management and B2B solutions that support travel suppliers and downstream distribution partners.

Headquartered in Shanghai, Trip.com Group serves customers across China and increasingly in international markets through a portfolio of brands and global distribution channels.

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