Hilton Jumps as Street Cheers `Healthy' Results, New Outlook
- Lowered expectations set ‘achievable hurdle,’ Jefferies says
- New guidance was largely expected by investors, JPMorgan says
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Hilton Worldwide Holdings Inc. rose 6 percent to their highest since October as investors looked past a 2019 forecast cut that was largely expected and focused on what Jefferies dubbed a “healthy” fourth-quarter earnings beat.
The McLean, Virginia-based hotel chain reported adjusted earnings per share for the fourth quarter of $0.79, which beat the $0.69 consensus. The company also cut its 2019 outlook of revenue per available room to a range of 1 percent to 3 percent from 2 percent to 4 percent.