Hilton Worldwide Holdings (HLT) Initiates Share Repurchase Program

Hilton Worldwide Holdings (NYSE:HLT) declared that its board has authorized a stock buyback program, which allows the company to buyback $1.00 billion in outstanding shares on Thursday, November 16th, EventVestor reports. This buyback authorization allows the company to reacquire shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.

Several research analysts have weighed in on HLT shares. SunTrust Banks, Inc. restated a “buy” rating and set a $67.00 price objective on shares of Hilton Worldwide Holdings in a report on Tuesday, October 17th. Zacks Investment Research upgraded shares of Hilton Worldwide Holdings from a “hold” rating to a “buy” rating and set a $77.00 target price for the company in a report on Wednesday, September 27th. Royal Bank Of Canada reiterated a “buy” rating and issued a $70.00 target price 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 target price on shares of Hilton Worldwide Holdings in a report on Friday, October 27th. Finally, The Goldman Sachs Group, Inc. downgraded shares of Hilton Worldwide Holdings from a “conviction-buy” rating to a “buy” rating and set a $80.00 target price for the company. in a report on Tuesday, November 14th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and fourteen have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $73.21.

Hilton Worldwide Holdings (NYSE HLT) opened at $74.11 on Friday. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 4.53. The firm has a market cap of $23,680.00, a PE ratio of 33.76, a price-to-earnings-growth ratio of 7.66 and a beta of 1.30. Hilton Worldwide Holdings has a 1 year low of $49.97 and a 1 year high of $74.44.

Hilton Worldwide Holdings (NYSE:HLT) last issued its earnings results on Thursday, October 26th. The company reported $0.56 earnings per share for the quarter, topping analysts’ consensus estimates of $0.50 by $0.06. The firm had revenue of $2.35 billion during the quarter, compared to analyst estimates of $2.28 billion. Hilton Worldwide Holdings had a net margin of 0.33% and a return on equity of 27.32%. The company’s quarterly revenue was up 7.0% on a year-over-year basis. During the same quarter last year, the business earned $0.41 earnings per share. sell-side analysts expect that Hilton Worldwide Holdings will post 1.9 EPS for the current fiscal year.

The firm also recently announced 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 is presently 600.00%.

In other Hilton Worldwide Holdings news, major shareholder Hlt Holdco Iii Llc sold 15,596,175 shares of the stock in a transaction dated Wednesday, October 4th. The shares were 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 this link. 1.50% of the stock is owned by company insiders.

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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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