Hilton Worldwide (NYSE:HLT) Updates Q2 Earnings Guidance

Hilton Worldwide (NYSE:HLT) issued an update on its second quarter earnings guidance on Wednesday morning. The company provided earnings per share guidance of $1.80 to $1.86 for the period, compared to the consensus earnings per share estimate of $1.87. Hilton Worldwide also updated its FY 2024 guidance to 6.890-7.030 EPS.

Hilton Worldwide Stock Up 3.9 %

NYSE:HLT traded up $7.66 on Wednesday, reaching $204.70. The stock had a trading volume of 3,116,188 shares, compared to its average volume of 1,495,048. The company has a market capitalization of $51.45 billion, a P/E ratio of 47.45, a price-to-earnings-growth ratio of 1.72 and a beta of 1.25. Hilton Worldwide has a 1-year low of $134.43 and a 1-year high of $215.79. The stock has a fifty day moving average price of $205.31 and a 200-day moving average price of $184.17.

Hilton Worldwide (NYSE:HLT) last announced its earnings results on Wednesday, February 7th. The company reported $1.68 earnings per share for the quarter, topping analysts’ consensus estimates 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 company had revenue of $2.61 billion during the quarter, compared to the consensus estimate of $2.61 billion. During the same period in the previous year, the firm posted $1.59 earnings per share. The company’s revenue was up 6.8% on a year-over-year basis. Sell-side analysts predict that Hilton Worldwide will post 7.06 earnings per share for the current fiscal 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 $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.29%. The ex-dividend date was Thursday, February 22nd. Hilton Worldwide’s dividend payout ratio is presently 13.86%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on HLT shares. BMO Capital Markets boosted their price target on shares of Hilton Worldwide from $203.00 to $215.00 and gave the stock a market perform rating in a research note on Wednesday, March 20th. Evercore ISI boosted their price target on shares of Hilton Worldwide from $200.00 to $210.00 and gave the stock an in-line rating in a research note on Wednesday, March 20th. Wells Fargo & Company boosted their price target on shares of Hilton Worldwide from $196.00 to $200.00 and gave the stock an equal weight rating in a research note on Wednesday, March 20th. Jefferies Financial Group boosted their price target on shares of Hilton Worldwide from $157.00 to $182.00 and gave the stock a hold rating in a research note on Tuesday, January 2nd. Finally, Truist Financial restated a hold rating and set a $199.00 price objective on shares of Hilton Worldwide in a report on Wednesday, March 20th. Eight investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus target price of $201.78.

Insider Activity

In other news, insider Christopher J. Nassetta sold 21,489 shares of the company’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $195.68, for a total value of $4,204,967.52. Following the completion of 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 Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 2.50% of the company’s stock.

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.