Zacks Downgrades Strategic Hotels and Resorts to Neutral (BEE)
Strategic Hotels and Resorts (NYSE:BEE) was downgraded by Zacks from an “outperform” rating to a “neutral” rating in a research report issued on Friday. They currently have a $11.90 target price on the stock. Zacks‘s price target would indicate a potential upside of 9.98% from the company’s current price.
Shares of Strategic Hotels and Resorts (NYSE:BEE) traded up 0.46% during mid-day trading on Friday, hitting $10.87. The stock had a trading volume of 2,965,816 shares. Strategic Hotels and Resorts has a 1-year low of $7.63 and a 1-year high of $11.11. The stock has a 50-day moving average of $10.55 and a 200-day moving average of $9.76. The company has a market cap of $2.238 billion and a price-to-earnings ratio of 9.85.
Strategic Hotels and Resorts (NYSE:BEE) last announced its earnings results on Wednesday, May 7th. The company reported $0.06 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.05 by $0.01. On average, analysts predict that Strategic Hotels and Resorts will post $0.64 earnings per share for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at Raymond James reiterated an “outperform” rating on shares of Strategic Hotels and Resorts in a research note on Friday, May 9th. They now have a $12.00 price target on the stock, up previously from $11.50. Analysts at MLV & Co
raised their price target on shares of Strategic Hotels and Resorts to $13.00 in a research note on Friday, May 9th. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $10.84.
Strategic Hotels & Resorts, Inc (NYSE:BEE) operates as a self-administered and self-managed real estate investment trust (REIT).
To view Zacks’ full report, visit Zacks’ official website.
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