Hilton Worldwide (NYSE:HLT) Issues 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 Performance

Shares of HLT opened at $202.12 on Friday. The company has a 50 day moving average price of $205.79 and a 200-day moving average price of $184.82. Hilton Worldwide has a fifty-two week low of $134.43 and a fifty-two week high of $215.79. The stock has a market capitalization of $50.54 billion, a PE ratio of 43.94, a PEG ratio of 1.81 and a beta of 1.25.

Hilton Worldwide (NYSE:HLT) last announced its quarterly earnings results on Wednesday, April 24th. The company reported $1.53 earnings per share for the quarter, topping the consensus estimate of $1.41 by $0.12. Hilton Worldwide had a net margin of 11.41% and a negative return on equity of 81.29%. The firm had revenue of $2.57 billion during the quarter, compared to analysts’ expectations of $2.51 billion. During the same quarter in the prior year, the company earned $1.24 EPS. The company’s revenue was up 12.2% compared to the same quarter last year. Equities research analysts forecast that Hilton Worldwide will post 7.07 EPS for the current year.

Hilton Worldwide Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, May 17th will be given a dividend of $0.15 per share. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $0.60 dividend on an annualized basis and a yield of 0.30%. Hilton Worldwide’s payout ratio is 13.04%.

Analyst Ratings Changes

A number of research firms recently commented on HLT. Barclays increased their target price on shares of Hilton Worldwide from $216.00 to $219.00 and gave the company an overweight rating in a research report on Thursday. Macquarie reaffirmed a neutral rating and issued a $192.00 price target on shares of Hilton Worldwide in a report on Wednesday. Wells Fargo & Company raised 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. Bank of America increased their price objective on shares of Hilton Worldwide from $215.00 to $225.00 and gave the stock a buy rating in a research note on Friday, March 15th. Finally, Evercore ISI increased their price objective 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. Nine equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average target price of $205.06.

Insider Buying and Selling at Hilton Worldwide

In other Hilton Worldwide news, insider Christopher J. Nassetta sold 21,489 shares of the 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 legal filing with the SEC, which is accessible through the SEC website. 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.