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 $6.93-7.03 for the period, compared to the consensus earnings per share estimate of $7.03. Hilton Worldwide also updated its FY 2024 guidance to 6.930-7.030 EPS.

Hilton Worldwide Price Performance

NYSE HLT traded up $2.64 during mid-day trading on Thursday, reaching $236.14. 794,719 shares of the stock were exchanged, compared to its average volume of 1,561,039. Hilton Worldwide has a one year low of $147.58 and a one year high of $240.00. The stock has a market cap of $59.05 billion, a P/E ratio of 51.19, a P/E/G ratio of 2.60 and a beta of 1.31. The stock has a 50 day simple moving average of $224.51 and a 200-day simple moving average of $213.94.

Hilton Worldwide (NYSE:HLT) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $1.91 earnings per share for the quarter, beating the consensus estimate of $1.86 by $0.05. The firm had revenue of $2.95 billion during the quarter, compared to the consensus estimate of $2.90 billion. Hilton Worldwide had a net margin of 11.20% and a negative return on equity of 69.65%. The business’s revenue was up 10.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.63 earnings per share. Sell-side analysts anticipate that Hilton Worldwide will post 7.05 EPS for the current fiscal year.

Hilton Worldwide Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, November 15th will be issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 0.25%. The ex-dividend date is Friday, November 15th. Hilton Worldwide’s dividend payout ratio (DPR) is presently 13.04%.

Wall Street Analysts Forecast Growth

HLT has been the topic of a number of research analyst reports. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Hilton Worldwide from $185.00 to $181.00 and set a “hold” rating on the stock in a research note on Thursday, August 8th. JPMorgan Chase & Co. boosted their target price on shares of Hilton Worldwide from $200.00 to $216.00 and gave the company a “neutral” rating in a research note on Friday, July 19th. Bank of America boosted their target price on shares of Hilton Worldwide from $230.00 to $265.00 and gave the company a “buy” rating in a research note on Monday. Wells Fargo & Company lowered their price target on shares of Hilton Worldwide from $237.00 to $232.00 and set an “equal weight” rating on the stock in a research report on Thursday. Finally, TD Cowen lowered their price target on shares of Hilton Worldwide from $265.00 to $256.00 and set a “buy” rating on the stock in a research report on Thursday. Eleven investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, Hilton Worldwide has an average rating of “Hold” and an average price target of $223.21.

Insider Buying and Selling at Hilton Worldwide

In other Hilton Worldwide news, insider Laura Fuentes sold 4,919 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $217.00, for a total transaction of $1,067,423.00. Following the completion of the transaction, the insider now owns 15,949 shares in the company, valued at $3,460,933. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company 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.