DiamondRock Hospitality Upgraded to Buy by ISI Group (DRH)
DiamondRock Hospitality (NYSE:DRH) was upgraded by analysts at ISI Group from a “neutral” rating to a “buy” rating in a research report issued to clients and investors on Monday, TheFlyOnTheWall.com reports.
In other DiamondRock Hospitality news, Director William Mccarten sold 57,647 shares of DiamondRock Hospitality stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $11.75, for a total value of $677,352.25. Following the sale, the director now directly owns 379,772 shares in the company, valued at approximately $4,462,321. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Several other analysts have also recently commented on the stock. Analysts at KeyCorp upgraded shares of DiamondRock Hospitality from a “hold” rating to a “buy” rating in a research note to investors on Thursday, December 19th. Separately, analysts at TheStreet downgraded shares of DiamondRock Hospitality from a “buy” rating to a “hold” rating in a research note to investors on Friday, December 6th. Finally, analysts at Stifel Nicolaus reiterated a “buy” rating on shares of DiamondRock Hospitality in a research note to investors on Sunday, November 17th. They now have a $13.00 price target on the stock. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and eight have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $11.60.
DiamondRock Hospitality (NYSE:DRH) opened at 11.52 on Monday. DiamondRock Hospitality has a 1-year low of $8.50 and a 1-year high of $11.83. The stock’s 50-day moving average is $11.37 and its 200-day moving average is $10.58. The company has a market cap of $2.252 billion and a price-to-earnings ratio of 62.55.
DiamondRock Hospitality (NYSE:DRH) last issued its quarterly earnings data on Friday, November 8th. The company reported $0.18 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.21 by $0.03. The company had revenue of $210.60 million for the quarter, compared to the consensus estimate of $218.74 million. During the same quarter last year, the company posted $0.18 earnings per share. DiamondRock Hospitality’s revenue was up 14.5% compared to the same quarter last year. Analysts expect that DiamondRock Hospitality will post $0.73 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, January 10th. Investors of record on Tuesday, December 31st will be paid a dividend of 0.085 per share. This represents a $0.34 annualized dividend and a dividend yield of 2.95%. The ex-dividend date is Friday, December 27th.
DiamondRock Hospitality Company is a lodging-focused Maryland corporation operating as a real estate investment trust (NYSE:DRH).
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