Hilton Grand Vacations Inc. (HGV) Posts Earnings Results, Beats Estimates By $0.01 EPS
Hilton Grand Vacations Inc. (NYSE:HGV) released its quarterly earnings results on Wednesday. The company reported $0.43 earnings per share for the quarter, beating analysts’ consensus estimates of $0.42 by $0.01, Briefing.com reports. The firm had revenue of $426.00 million for the quarter, compared to the consensus estimate of $435.83 million. The firm’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same period in the previous year, the business earned $0.35 earnings per share. Hilton Grand Vacations updated its FY17 guidance to $1.80 to $1.98 EPS.
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In other Hilton Grand Vacations news, Director David William Johnson acquired 28,000 shares of the stock in a transaction dated Thursday, August 17th. The shares were purchased at an average price of $35.16 per share, for a total transaction of $984,480.00. Following the purchase, the director now directly owns 33,000 shares of the company’s stock, valued at $1,160,280. The acquisition was disclosed in a filing with the SEC, which is available at this link. 0.46% of the stock is owned by corporate insiders.
An institutional investor recently raised its position in Hilton Grand Vacations stock. The Manufacturers Life Insurance Company boosted its position in shares of Hilton Grand Vacations Inc. (NYSE:HGV) by 7.3% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,978 shares of the company’s stock after acquiring an additional 202 shares during the period. The Manufacturers Life Insurance Company ‘s holdings in Hilton Grand Vacations were worth $107,000 at the end of the most recent quarter. 97.88% of the stock is owned by institutional investors.
Several brokerages have commented on HGV. Zacks Investment Research lowered shares of Hilton Grand Vacations from a “buy” rating to a “hold” rating in a research report on Thursday, July 6th. Instinet reaffirmed a “buy” rating and issued a $45.00 price objective (up previously from $44.00) on shares of Hilton Grand Vacations in a research report on Wednesday, August 9th. Finally, Nomura lifted their price objective on shares of Hilton Grand Vacations from $44.00 to $45.00 and gave the stock a “buy” rating in a research report on Thursday, August 3rd. One analyst has rated the stock with a sell rating and eight have given a buy rating to the company’s stock. Hilton Grand Vacations currently has a consensus rating of “Buy” and a consensus target price of $38.78.
Hilton Grand Vacations Company Profile
Hilton Grand Vacations Inc is a timeshare company that markets and sells vacation ownership intervals (VOIs), manages resorts in leisure and urban destinations, and operates a points-based vacation club. The Company operates its business across two segments: Real Estate Sales and Financing, and Resort Operations and Club Management.
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