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

Hilton Worldwide stock opened at $202.12 on Friday. The stock has a market capitalization of $50.54 billion, a price-to-earnings ratio of 43.94, a PEG ratio of 1.81 and a beta of 1.25. Hilton Worldwide has a 52-week low of $134.43 and a 52-week high of $215.79. The stock’s 50 day moving average price is $205.79 and its two-hundred day moving average price is $184.82.

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

Hilton Worldwide Announces Dividend

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

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on HLT. Evercore ISI lifted their price objective on Hilton Worldwide from $200.00 to $210.00 and gave the stock an in-line rating in a report on Wednesday, March 20th. Deutsche Bank Aktiengesellschaft raised their target price on Hilton Worldwide from $176.00 to $185.00 and gave the stock a hold rating in a research note on Thursday. TD Cowen raised their target price on Hilton Worldwide from $215.00 to $230.00 and gave the stock an outperform rating in a research note on Wednesday, March 20th. UBS Group raised their target price on Hilton Worldwide from $190.00 to $237.00 and gave the stock a buy rating in a research note on Wednesday, February 28th. Finally, Wells Fargo & Company lifted their price target on Hilton Worldwide from $196.00 to $200.00 and gave the company an equal weight rating in a research report on Wednesday, March 20th. Nine research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, Hilton Worldwide currently has an average rating of Moderate Buy and an average target price of $205.06.

Insider Activity

In other news, insider Christopher J. Nassetta sold 21,489 shares of the business’s stock in a transaction that occurred on Thursday, February 8th. The stock was 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 Securities & Exchange Commission, which is available through this link. 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.