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Actionable news in PCLN: priceline.com Incorporated,

The Price is Right (PCLN Earnings)

Priceline Group, the world's leading provider of online travel & related services, will release Q3 earnings after the market close today.

Analysts are expecting to see EPS of $34.25 per share and revenue of $4.43 billion.

Key Points from Last Quarter:

  • Gross profit for the quarter was $3.0 Bln a 21% increase year over year
  • Booking.com rental growth rate grew 50% YoY at 721K vacation rental properties.
  • OpenTable is meeting and exceeding expectations including site visitors.
  • Rental car growth of 11.7% YoY
  • Reported Q2 earnings of $15.14 per share, excluding non-recurring items, $0.92 better than the Capital IQ Consensus of $14.22
  • Gross bookings grew by 16.4% YoY

Options:

Based on PCLN options, the current implied volatility stands at ~ 30%, which is 116% higher than historical volatility (over the past 30 days). Based on the Weekly Nov10 PCLN $1900 straddle, the options market is currently pricing in a move of ~6% in either direction by weekly expiration (Friday).


TECHS:

Technically, PCLN has been chopping below its last earning's bearish gap zone with October resistance around 1950.

If earnings disappoint, then look for Sellers to press price down to the 200-day ma zone at around 1820, and its multi-month support between the 1775/1800-levels. If that cannot hold, then look today's the 1700-level where the late-Feb bullish gap is in play. (This type of move would coincide with a head and shoulders pattern currently in play).


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