DiamondRock Hospitality PT Raised to $9.50 (DRH)
Investment analysts at Goldman Sachs Group Inc. upped their target price on shares of DiamondRock Hospitality (NYSE:DRH) from $9.25 to $9.50 in a note issued to investors on Thursday, American Banking News.com reports. The firm currently has a “sell” rating on the stock. Goldman Sachs Group Inc.’s price target would indicate a potential downside of 13.08% from the stock’s previous close.
A number of other firms have also recently commented on DRH. Analysts at Morgan Stanley initiated coverage on shares of DiamondRock Hospitality in a research note to investors on Thursday. They set an “overweight” rating and a $13.00 price target on the stock. Separately, analysts at MLV Capital upgraded shares of DiamondRock Hospitality from a “hold” rating to a “buy” rating in a research note to investors on Friday, September 20th. They now have a $13.00 price target on the stock, up previously from $11.00. Finally, analysts at FBR & Co. upgraded shares of DiamondRock Hospitality from a “market perform” rating to an “outperform” rating in a research note to investors on Wednesday, September 11th. One analyst has rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $11.24.
Shares of DiamondRock Hospitality (NYSE:DRH) traded up 3.50% during mid-day trading on Thursday, hitting $10.93. The stock had a trading volume of 2,698,754 shares. DiamondRock Hospitality has a 1-year low of $8.11 and a 1-year high of $11.07. The stock has a 50-day moving average of $10.34 and a 200-day moving average of $9.84. The company’s market cap is $2.136 billion.
DiamondRock Hospitality (NYSE:DRH) last released its earnings data on Friday, August 9th. The company reported $0.22 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.21 by $0.01. The company had revenue of $221.18 million for the quarter, compared to the consensus estimate of $218.74 million. During the same quarter last year, the company posted $0.20 earnings per share. DiamondRock Hospitality’s revenue was up 23.9% compared to the same quarter last year. On average, analysts predict that DiamondRock Hospitality will post $0.73 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Thursday, October 10th. Shareholders of record on Monday, September 30th will be paid a dividend of $0.09 per share. This represents a $0.34 annualized dividend and a dividend yield of 3.11%. The ex-dividend date is Thursday, September 26th.
DiamondRock Hospitality Company is a lodging-focused Maryland corporation operating as a real estate investment trust (NYSE:DRH).
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