What Happened:
Shares of hotel company Hilton (NYSE:HLT) jumped 6.4% in the morning session after the company reported first quarter results that beat analysts' revenue and EPS expectations. Additionally, adjusted EBITDA guidance for the full year 2024 was raised and came in above expectations. On the other hand, its operating margin missed and its full-year earnings guidance fell short of Wall Street's estimates. While not perfect, this was still a solid quarter for Hilton.
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What is the market telling us:
Hilton's shares are not very volatile than the market average and over the last year have had no moves greater than 5%. In context of that, today's move is indicating the market considers this news meaningful, although it might not be something that would fundamentally change its perception of the business.
Hilton is up 15.3% since the beginning of the year, and at $207.50 per share it is trading close to its 52-week high of $214.34 from March 2024. Investors who bought $1,000 worth of Hilton's shares 5 years ago would now be looking at an investment worth $2,372.
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