Hilton Worldwide Holdings (HLT) to Buyback $1.00 billion in Outstanding Shares
Hilton Worldwide Holdings (NYSE:HLT) announced that its Board of Directors has authorized a share buyback plan, which permits the company to repurchase $1.00 billion in shares on Thursday, November 16th, EventVestor reports. This repurchase authorization permits the company to purchase shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its shares are undervalued.
A number of equities research analysts have recently weighed in on HLT shares. SunTrust Banks, Inc. reiterated a “buy” rating and issued a $67.00 price target on shares of Hilton Worldwide Holdings in a report on Tuesday, October 17th. Zacks Investment Research upgraded Hilton Worldwide Holdings from a “hold” rating to a “buy” rating and set a $77.00 price target for the company in a report on Wednesday, September 27th. Royal Bank Of Canada reiterated a “buy” rating and issued a $70.00 price target on shares of Hilton Worldwide Holdings in a report on Friday, September 22nd. Robert W. Baird reiterated a “buy” rating and issued a $78.00 price target on shares of Hilton Worldwide Holdings in a report on Friday, October 27th. Finally, The Goldman Sachs Group, Inc. downgraded Hilton Worldwide Holdings from a “conviction-buy” rating to a “buy” rating and set a $80.00 price target for the company. in a report on Tuesday. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and fourteen have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $73.21.
Shares of Hilton Worldwide Holdings (NYSE:HLT) traded up $0.09 during mid-day trading on Friday, reaching $74.11. The company’s stock had a trading volume of 2,392,178 shares, compared to its average volume of 2,692,657. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 4.53. Hilton Worldwide Holdings has a one year low of $49.97 and a one year high of $74.44. The firm has a market cap of $23,680.00, a price-to-earnings ratio of 33.76, a PEG ratio of 7.66 and a beta of 1.30.
Hilton Worldwide Holdings (NYSE:HLT) last announced its quarterly earnings results on Thursday, October 26th. The company reported $0.56 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.50 by $0.06. Hilton Worldwide Holdings had a return on equity of 27.32% and a net margin of 0.33%. The company had revenue of $2.35 billion during the quarter, compared to analyst estimates of $2.28 billion. During the same quarter in the previous year, the firm posted $0.41 EPS. The firm’s quarterly revenue was up 7.0% on a year-over-year basis. analysts predict that Hilton Worldwide Holdings will post 1.9 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, November 17th will be given a dividend of $0.15 per share. The ex-dividend date of this dividend is Thursday, November 16th. This represents a $0.60 dividend on an annualized basis and a yield of 0.81%. Hilton Worldwide Holdings’s dividend payout ratio (DPR) is presently 600.00%.
In other Hilton Worldwide Holdings news, major shareholder Hlt Holdco Iii Llc sold 15,596,175 shares of the business’s stock in a transaction on Wednesday, October 4th. The stock was sold at an average price of $69.11, for a total transaction of $1,077,851,654.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.50% of the company’s stock.
Hilton Worldwide Holdings Company Profile
Hilton Worldwide Holdings Inc is a hospitality company. The Company is engaged in owning, leasing, managing and franchising hotels and resorts. The Company’s segments include ownership, and management and franchise. Its global portfolio of owned and leased properties includes a range of hotels in gateway cities, such as New York City, London, San Francisco, Chicago, Sao Paolo and Tokyo.
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