Hilton Worldwide (HLT) RePAR and EBITDA Come In Light, Loop Capital Reiterates Hold
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Loop Capital analyst Daniel Adam reiterated a Hold rating and $147.00 price target on Hilton Worldwide (NYSE: HLT) after the company reported mixed results, with 1Q RevPAR and EBITDA coming in light. Guidance for
2Q and FY22 was in-line.
The analyst stated "Bulls will likely point to: (1) full year capital returns of $1.4-1.8bn, implying potential share repos this year of ~$1.3-$1.7bn, or roughly 3-4% of HLT’s total outstanding share count; and (2) positive monthly RevPAR cadence, with declines versus 2019 narrowing from ~26% in January to -9% in March, and with April tracking down only ~5% versus 2019 levels. Bears will likely point to: (1) the possibility of a higher target leverage ratio (vs. HLT’s current 3-3.5x target) heading into what could be a “stagflationaryesque” macro environment; and (2) implied May+June RevPAR guidance of down ~5% to -12.5% versus 2019 suggests a deterioration from -5% in April."
Shares of Hilton Worldwide closed at $148.96 yesterday.
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