Stock Buyback Program Initiated by Hilton Grand Vacations (NYSE:HGV) Board

Key Points

• Hilton Grand Vacations' board has authorized a stock buyback plan, indicating belief that shares are undervalued.
• The company experienced a 2.0% increase in stock price, reaching $45.89, with strong trading volume compared to its average.
• Hilton reported a missed earnings estimate for the last quarter, with $0.54 earnings per share against a consensus estimate of $0.78.

Hilton Grand Vacations (NYSE:HGV - Get Free Report) declared that its board has authorized a stock buyback plan on Wednesday, August 13th, RTT News reports. The company plans to buyback $0.00 in outstanding shares. This buyback authorization authorizes the company to repurchase shares of its stock through open market purchases. Stock buyback plans are usually an indication that the company's board of directors believes its shares are undervalued.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on HGV shares. Morgan Stanley lowered their price target on Hilton Grand Vacations from $46.00 to $38.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 22nd. Barclays lifted their target price on Hilton Grand Vacations from $42.00 to $49.00 and gave the stock an "equal weight" rating in a research report on Friday, August 1st. The Goldman Sachs Group reissued a "sell" rating and set a $39.00 target price on shares of Hilton Grand Vacations in a research report on Friday, August 1st. Deutsche Bank Aktiengesellschaft set a $59.00 target price on Hilton Grand Vacations and gave the stock a "buy" rating in a research report on Monday, August 4th. Finally, Mizuho lifted their target price on Hilton Grand Vacations from $73.00 to $76.00 and gave the stock an "outperform" rating in a research report on Friday, August 1st. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, Hilton Grand Vacations presently has an average rating of "Moderate Buy" and an average price target of $53.43.

Hilton Grand Vacations Stock Up 2.0%

NYSE HGV traded up $0.92 on Wednesday, reaching $45.89. The company had a trading volume of 3,874,212 shares, compared to its average volume of 1,169,399. The firm has a market capitalization of $4.09 billion, a price-to-earnings ratio of 83.44, a price-to-earnings-growth ratio of 3.84 and a beta of 1.65. The company has a debt-to-equity ratio of 4.31, a quick ratio of 2.77 and a current ratio of 4.43. Hilton Grand Vacations has a 1-year low of $30.59 and a 1-year high of $52.08. The company's fifty day moving average is $44.31 and its 200-day moving average is $40.40.

Hilton Grand Vacations (NYSE:HGV - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The company reported $0.54 earnings per share for the quarter, missing the consensus estimate of $0.78 by ($0.24). The company had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.38 billion. Hilton Grand Vacations had a net margin of 1.14% and a return on equity of 9.71%. Hilton Grand Vacations's revenue was up 2.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.62 EPS. On average, research analysts forecast that Hilton Grand Vacations will post 3.39 earnings per share for the current fiscal year.

Hilton Grand Vacations Company Profile

Hilton Grand Vacations Inc, a timeshare company, develops, markets, sells, manages, and operates the resorts, plans and ancillary reservation services under the Hilton Grand Vacations brand. It operates through Real Estate Sales and Financing, and Resort Operations and Club Management segments. Real Estate Sales and Financing segment market and sells the VOIs, and source VOIs through fee-for-service agreements with third-party developers; and provides consumer financing and services loans.

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