Hilton Worldwide (NYSE:HLT) Updates FY 2024 Earnings Guidance

Hilton Worldwide (NYSE:HLT) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share guidance of 6.890-7.030 for the period, compared to the consensus earnings per share estimate of 7.120. The company issued revenue guidance of -. Hilton Worldwide also updated its FY24 guidance to $6.89 to $7.03 EPS.

Hilton Worldwide Stock Up 4.5 %

Shares of HLT traded up $8.86 during midday trading on Wednesday, reaching $205.90. 2,208,484 shares of the stock were exchanged, compared to its average volume of 1,482,467. The stock’s 50 day simple moving average is $205.31 and its 200 day simple moving average is $184.17. Hilton Worldwide has a twelve month low of $134.43 and a twelve month high of $215.79. The company has a market cap of $51.75 billion, a P/E ratio of 47.45, a PEG ratio of 1.72 and a beta of 1.25.

Hilton Worldwide (NYSE:HLT) last issued its quarterly earnings results on Wednesday, February 7th. The company reported $1.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.57 by $0.11. The company had revenue of $2.61 billion for the quarter, compared to analyst estimates of $2.61 billion. Hilton Worldwide had a negative return on equity of 94.46% and a net margin of 11.15%. The company’s revenue for the quarter was up 6.8% compared to the same quarter last year. During the same quarter last year, the company posted $1.59 EPS. As a group, analysts predict that Hilton Worldwide will post 7.06 earnings per share for the current year.

Hilton Worldwide Dividend Announcement

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

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Wells Fargo & Company lifted their price target on shares of Hilton Worldwide from $196.00 to $200.00 and gave the stock an equal weight rating in a report on Wednesday, March 20th. Truist Financial reiterated a hold rating and issued a $199.00 price target on shares of Hilton Worldwide in a research report on Wednesday, March 20th. Jefferies Financial Group lifted their price objective on Hilton Worldwide from $157.00 to $182.00 and gave the stock a hold rating in a research note on Tuesday, January 2nd. UBS Group increased their target price on shares of Hilton Worldwide from $190.00 to $237.00 and gave the company a buy rating in a research report on Wednesday, February 28th. Finally, Robert W. Baird upped their price objective on shares of Hilton Worldwide from $210.00 to $212.00 and gave the company an outperform rating in a research note on Thursday, March 21st. Eight research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of Moderate Buy and a consensus target price of $201.78.

Insider Transactions at Hilton Worldwide

In other Hilton Worldwide news, insider Christopher J. Nassetta sold 21,489 shares of the company’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 owns 2,536,478 shares in the company, valued at $496,338,015.04. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 2.50% of the stock is owned by insiders.

About Hilton Worldwide

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.