Ryman Hospitality Properties Stock Rating Lowered by Goldman Sachs Group Inc. (RHP)
Ryman Hospitality Properties (NYSE:RHP) was downgraded by equities research analysts at Goldman Sachs Group Inc. from a “buy” rating to a “neutral” rating in a research note issued to investors on Wednesday, TheFlyOnTheWall.com reports. They currently have a $36.50 price target on the stock, down from their previous price target of $40.00. Goldman Sachs Group Inc.’s price target would indicate a potential upside of 4.26% from the stock’s previous close.
The analysts wrote, “We downgrade Ryman to Neutral from Buy as the outlook for group business remains tepid. We expect the sales initiatives being implemented by Ryman and its manager (Marriott) to reverse weak trends seen year to date; but the P&L impact is likely to take longer to manifest as we believe these efforts will favorably impact bookings for 2014 and beyond. Operational performance and positive commentary on group initiatives will be investors’ focal concerns in the upcoming quarters. We lower our target price to $36.50 (11% total returns; including a 5.6% dividend yield). Since being added to the Buy List on November 12, 2012, shares are 8% vs. S&P 500 up 20% (over 12 months shares are -13% vs. the S&P 500 up 14%). Weaknesses in group trends have led to FY13 guidance being lowered twice. Additionally, the cost synergies that we expected from the integration have taken longer to materialize, leading to underperformance vs. the market and peers.”
A number of other analysts have also recently weighed in on RHP. Analysts at Citigroup Inc. reiterated a “neutral” rating on shares of Ryman Hospitality Properties in a research note to investors on Wednesday, August 14th. They now have a $35.00 price target on the stock, down previously from $36.00. Separately, analysts at SunTrust cut their price target on shares of Ryman Hospitality Properties from $34.00 to $30.00 in a research note to investors on Wednesday, August 7th. Finally, analysts at JMP Securities cut their price target on shares of Ryman Hospitality Properties from $48.00 to $44.00 in a research note to investors on Wednesday, August 7th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the company’s stock. Ryman Hospitality Properties presently has a consensus rating of “Hold” and a consensus price target of $41.07.
Ryman Hospitality Properties (NYSE:RHP) traded down 0.46% on Wednesday, hitting $34.85. 389,060 shares of the company’s stock traded hands. Ryman Hospitality Properties has a one year low of $30.85 and a one year high of $48.35. The stock has a 50-day moving average of $34.74 and a 200-day moving average of $38.34. The company has a market cap of $1.760 billion and a P/E ratio of 80.85.
Ryman Hospitality Properties (NYSE:RHP) last released its earnings data on Tuesday, August 6th. The company reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $0.25. The company had revenue of $245.18 million for the quarter, compared to the consensus estimate of $254.50 million. The company’s revenue for the quarter was down 3.2% on a year-over-year basis. On average, analysts predict that Ryman Hospitality Properties will post $1.68 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, October 15th. Shareholders of record on Friday, September 27th will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 5.71%. The ex-dividend date is Wednesday, September 25th.
Ryman Hospitality Properties Inc is a financials company in the Specialized REITs industry.
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