Diamond Resorts International Sets New 12-Month High Following Better-Than-Expected Earnings (DRII)
Shares of Diamond Resorts International (NASDAQ:DRII) hit a new 52-week high on Thursday following a stronger than expected earnings report, Analyst Ratings.Net reports. The stock traded as high as $25.75 and last traded at $25.05, with a volume of 1,020,729 shares. The stock had previously closed at $23.33.
The company reported ($0.04) earnings per share for the quarter, beating the analysts’ consensus estimate of ($0.20) by $0.16. The company had revenue of $209.00 million for the quarter, compared to the consensus estimate of $204.60 million. During the same quarter last year, the company posted $0.24 earnings per share. Diamond Resorts International’s revenue was up 20.2% compared to the same quarter last year.
DRII has been the subject of a number of recent research reports. Analysts at Credit Suisse reiterated an “outperform” rating on shares of Diamond Resorts International in a research note on Thursday. They now have a $27.00 price target on the stock, up previously from $24.00. Separately, analysts at JMP Securities raised their price target on shares of Diamond Resorts International from $26.00 to $28.00 in a research note on Thursday. They now have an “outperform” rating on the stock. Finally, analysts at JPMorgan Chase & Co. raised their price target on shares of Diamond Resorts International from $23.00 to $27.00 in a research note on Thursday. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Diamond Resorts International presently has a consensus rating of “Buy” and an average target price of $24.76.
The stock has a 50-day moving average of $22.57 and a 200-day moving average of $19.48. The company has a market cap of $1.887 billion and a price-to-earnings ratio of 180.85.
Diamond Resorts International, Inc is engaged in the hospitality and vacation ownership industry, with an ownership base of more than 490,000 owner-families, or members, and a network of 296 vacation destinations located in 32 countries throughout the continental United States, Hawaii, Canada, Mexico, the Caribbean, Central America, South America, Europe, Asia, Australia and Africa.
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