Ctrip (CTRP), a Chinese online travel agency, is expected to report a drop in second-quarter earnings amid signs the company has been investing in expansion plans. Analysts polled by Thomson Reuters see Ctrip reporting a 54% drop in Q2 earnings per share to 11 cents when it announces late Wednesday. That would follow a 33% Q1 decline, and analysts see further drops for the rest of the year. Revenue in Q2 is seen rising 33% to $269.3 billion.
Online travel agency Ctrip.com International (CTRP) got a downgrade from Raymond James on Wednesday that still kept the rating at outperform, or buy, as the investment bank said fundamentals remained strong. Raymond James analysts Aaron Kessler and Ben Cohen downgraded the Shanghai-based company from strong buy, citing a more balanced risk/reward. Ctrip stock was up nearly 3% in afternoon trading in the stock market today, near 59.25, as Raymond
Ctrip.com International (CTRP) was down 1.5% in morning trading in the stock market today after Stifel Nicolaus downgraded the China Web travel agency to hold from buy on the likely impact of a ticket commission-rate cut by Air China. Stifel also lowered its estimates on Ctrip’s air-ticketing revenue. In earlier trading Tuesday, Ctrip stock has fallen as much as 6.6%. The stock of Baidu (BIDU)-backed China metasearch travel firm Qunar Cayman