Wall Street brokerages expect that DiamondRock Hospitality (NYSE:DRH) will report earnings of $0.26 per share for the current fiscal quarter, according to Zacks Investment Research. Seven analysts have issued estimates for DiamondRock Hospitality’s earnings. The highest EPS estimate is $0.29 and the lowest is $0.25. DiamondRock Hospitality posted earnings per share of $0.25 during the same quarter last year, which would suggest a positive year over year growth rate of 4%. The company is expected to issue its next quarterly earnings report on Monday, November 5th.
According to Zacks, analysts expect that DiamondRock Hospitality will report full-year earnings of $1.02 per share for the current fiscal year, with EPS estimates ranging from $0.97 to $1.06. For the next year, analysts expect that the firm will post earnings of $1.02 per share, with EPS estimates ranging from $0.99 to $1.10. Zacks Investment Research’s EPS calculations are a mean average based on a survey of analysts that that provide coverage for DiamondRock Hospitality.
DiamondRock Hospitality (NYSE:DRH) last announced its earnings results on Thursday, August 2nd. The real estate investment trust reported $0.14 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.32 by ($0.18). DiamondRock Hospitality had a net margin of 9.26% and a return on equity of 4.26%. The firm had revenue of $236.70 million for the quarter, compared to the consensus estimate of $241.52 million. During the same period in the prior year, the business earned $0.32 EPS. The company’s quarterly revenue was up 2.1% compared to the same quarter last year.
Several brokerages recently weighed in on DRH. Boenning Scattergood set a $10.00 target price on DiamondRock Hospitality and gave the company a “sell” rating in a research note on Monday, May 7th. TheStreet cut DiamondRock Hospitality from a “b-” rating to a “c+” rating in a research note on Thursday, May 3rd. Stifel Nicolaus raised their target price on DiamondRock Hospitality from $12.00 to $13.25 and gave the company a “buy” rating in a research note on Friday, May 25th. ValuEngine cut DiamondRock Hospitality from a “buy” rating to a “hold” rating in a research note on Monday, June 4th. Finally, Zacks Investment Research cut DiamondRock Hospitality from a “buy” rating to a “hold” rating in a research note on Tuesday, July 17th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $12.32.
DiamondRock Hospitality traded up $0.06, hitting $11.58, during trading hours on Friday, Marketbeat reports. 1,833,441 shares of the stock traded hands, compared to its average volume of 1,892,366. DiamondRock Hospitality has a one year low of $9.87 and a one year high of $12.99. The stock has a market capitalization of $2.39 billion, a P/E ratio of 11.58, a P/E/G ratio of 2.26 and a beta of 1.39. The company has a quick ratio of 1.43, a current ratio of 2.43 and a debt-to-equity ratio of 0.49.
In other news, EVP William J. Tennis sold 30,000 shares of the company’s stock in a transaction on Wednesday, May 30th. The stock was sold at an average price of $12.79, for a total transaction of $383,700.00. Following the completion of the sale, the executive vice president now directly owns 252,363 shares of the company’s stock, valued at $3,227,722.77. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Briony R. Quinn sold 10,000 shares of the company’s stock in a transaction on Thursday, May 24th. The shares were sold at an average price of $12.58, for a total value of $125,800.00. Following the sale, the insider now directly owns 83,172 shares of the company’s stock, valued at $1,046,303.76. The disclosure for this sale can be found here. Corporate insiders own 1.10% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the company. BlackRock Inc. lifted its stake in DiamondRock Hospitality by 3.6% in the 2nd quarter. BlackRock Inc. now owns 36,542,897 shares of the real estate investment trust’s stock worth $448,748,000 after acquiring an additional 1,282,565 shares in the last quarter. Resolution Capital Ltd lifted its stake in DiamondRock Hospitality by 14.6% in the 2nd quarter. Resolution Capital Ltd now owns 8,149,876 shares of the real estate investment trust’s stock worth $100,080,000 after acquiring an additional 1,040,600 shares in the last quarter. Prudential Financial Inc. lifted its stake in DiamondRock Hospitality by 38.0% in the 1st quarter. Prudential Financial Inc. now owns 7,952,866 shares of the real estate investment trust’s stock worth $83,028,000 after acquiring an additional 2,189,890 shares in the last quarter. Northern Trust Corp lifted its stake in DiamondRock Hospitality by 2.4% in the 1st quarter. Northern Trust Corp now owns 6,912,515 shares of the real estate investment trust’s stock worth $72,168,000 after acquiring an additional 164,417 shares in the last quarter. Finally, Cbre Clarion Securities LLC lifted its stake in DiamondRock Hospitality by 2,004.3% in the 2nd quarter. Cbre Clarion Securities LLC now owns 6,298,144 shares of the real estate investment trust’s stock worth $77,341,000 after acquiring an additional 5,998,844 shares in the last quarter.
DiamondRock Hospitality Company Profile
DiamondRock Hospitality Company is a self-advised real estate investment trust (REIT) that is an owner of a leading portfolio of geographically diversified hotels concentrated in top gateway markets and destination resort locations. The Company owns 30 premium quality hotels with over 9,900 rooms. The Company has strategically positioned its hotels to be operated both under leading global brand families such as Hilton and Marriott as well as unique boutique hotels in the lifestyle segment.
Read More: Momentum Indicator: Relative Strength Index
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for DiamondRock Hospitality Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for DiamondRock Hospitality and related companies with MarketBeat.com's FREE daily email newsletter.