Hilton Worldwide (NYSE:HLT) Updates FY24 Earnings Guidance

Hilton Worldwide (NYSE:HLT) issued an update on its FY24 earnings guidance on Wednesday morning. The company provided earnings per share guidance of $6.89 to $7.03 for the period, compared to the consensus earnings per share estimate of $7.10. Hilton Worldwide also updated its FY 2024 guidance to 6.890-7.030 EPS.

Hilton Worldwide Stock Up 3.9 %

Shares of NYSE HLT traded up $7.66 during midday trading on Wednesday, hitting $204.70. The company had a trading volume of 3,116,188 shares, compared to its average volume of 1,495,048. Hilton Worldwide has a twelve month low of $134.43 and a twelve month high of $215.79. The business has a 50-day simple moving average of $205.31 and a two-hundred day simple moving average of $184.17. The firm has a market capitalization of $51.45 billion, a price-to-earnings ratio of 47.45, a price-to-earnings-growth ratio of 1.72 and a beta of 1.25.

Hilton Worldwide (NYSE:HLT) last announced its quarterly earnings data on Wednesday, February 7th. The company reported $1.68 EPS for the quarter, beating the consensus estimate of $1.57 by $0.11. Hilton Worldwide had a net margin of 11.15% and a negative return on equity of 94.46%. The firm had revenue of $2.61 billion during the quarter, compared to analysts’ expectations of $2.61 billion. During the same quarter last year, the business earned $1.59 earnings per share. The business’s revenue for the quarter was up 6.8% compared to the same quarter last year. On average, equities analysts forecast that Hilton Worldwide will post 7.06 EPS for the current year.

Hilton Worldwide Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, February 23rd were given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 0.29%. The ex-dividend date was Thursday, February 22nd. Hilton Worldwide’s payout ratio is currently 13.86%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on HLT shares. Evercore ISI lifted their target price on shares of Hilton Worldwide from $200.00 to $210.00 and gave the stock an in-line rating in a research report on Wednesday, March 20th. UBS Group lifted their target price on shares of Hilton Worldwide from $190.00 to $237.00 and gave the stock a buy rating in a research report on Wednesday, February 28th. Macquarie restated a neutral rating and set a $192.00 target price on shares of Hilton Worldwide in a research report on Wednesday. Bank of America lifted their target price on shares of Hilton Worldwide from $215.00 to $225.00 and gave the stock a buy rating in a research report on Friday, March 15th. Finally, HSBC lifted their target price on shares of Hilton Worldwide from $219.00 to $254.00 and gave the stock a buy rating in a research report on Wednesday, April 3rd. Eight research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of Moderate Buy and a consensus target price of $201.78.

Insider Transactions at Hilton Worldwide

In other news, insider Christopher J. Nassetta sold 21,489 shares of the business’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $195.68, for a total transaction of $4,204,967.52. Following the transaction, the insider now directly owns 2,536,478 shares of the company’s stock, valued at $496,338,015.04. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 2.50% of the company’s stock.

Hilton Worldwide Company Profile

Hilton Worldwide Holdings Inc, a hospitality company, engages in managing, franchising, owning, and leasing hotels and resorts. It operates through two segments, Management and Franchise, and Ownership. The company engages in the hotel management and licensing of its brands. It operates luxury hotels under the Waldorf Astoria Hotels & Resorts, LXR Hotels & Resorts, and Conrad Hotels & Resorts brand; lifestyle hotels under the Canopy by Hilton, Curio Collection by Hilton, Tapestry Collection by Hilton, Tempo by Hilton, and Motto by Hilton brand; full service hotels under the Signia by Hilton, Hilton Hotels & Resorts, and DoubleTree by Hilton brand; service hotels under the Hilton Garden Inn, Hampton by Hilton, and Tru by Hilton brand; all-suite hotels under the Embassy Suites by Hilton, Homewood Suites by Hilton, and Home2 Suites by Hilton brand; and economy hotel under the Spark by Hilton brand, as well as Hilton Grand Vacations.