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Why is Hilton Grand Vacations Inc (HGV) Stock down?
We've noticed a 5.92% decline in Hilton Grand Vacations Inc (HGV) stock during the 2024-11-26 trading session. While this could be attributed to normal volatility or various internal and external factors, please be aware that we are actively monitoring the situation, and we'll provide timely updates as soon as possible!
06 Nov, 2023:
Hilton Grand Vacations Stock (HGV) dropped by 8.05% from $37.25 to $34.25 in the trading on Monday November 6, 2023. The reasons why HGV stock down today include
- Mixed earnings results: Hilton Grand Vacations reported a third-quarter FY23 sales decline of 8.8% year-on-year to $1.02 billion, missing the analyst consensus estimate of $1.05 billion. Q3 Non-GAAP EPS of $0.98, beating the consensus by $0.01.
- FY23 outlook: The company is updating its guidance for the full year 2023 Adjusted EBITDA excluding deferrals and recognitions to a range of $1,000 - $1,020M, from the prior $1,090 - $1,120M.
- Bluegreen Vacations acquisition: The company entered into a definitive agreement to acquire Bluegreen Vacations for $75 per share in an all-cash transaction.
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