Ctrip.com International (CTRP) recently pulled from its 52-week high above $78, but the long-term trend is still bullish, helped by rising estimates and better than expected Q3 results, reported on Nov 11.
Third-Quarter Results
Sales were up 47% from last year to $80 million. Earnings also came in strong at 39 cents, 8 cents ahead of the Zacks Consensus Estimate. The company has beat in each of the last four quarters by an average of 6 cents, or 23%.
Estimates Rise
Estimates have risen from the last month, with the current year adding 10 cents to $1.32. The next-year estimate is pegged at $1.77, a bullish 35% growth projection.
After the big gains of the last 9 months, this stocks doesn’t come cheap, trading at 53X projected current-year income.
The Chart
Shares of CTRP recently pulled back from the 52-week high above $78, where some short-term resistance has developed. Take a look below.
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