Starwood Hotels & Resorts Worldwide Given Consensus Rating of “Buy” by Brokerages (NYSE:HOT)
Starwood Hotels & Resorts Worldwide (NYSE:HOT) has been given a consensus recommendation of “Buy” by the twenty ratings firms that are presently covering the stock, Analyst Ratings Net reports. Five investment analysts have rated the stock with a hold recommendation and fourteen have assigned a buy recommendation to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $86.82.
A number of research firms have recently commented on HOT. Analysts at Barclays upgraded shares of Starwood Hotels & Resorts Worldwide from an “equal weight” rating to an “overweight” rating in a research note on Friday, August 15th. They now have a $89.00 price target on the stock, up previously from $84.00. Separately, analysts at Zacks reiterated a “neutral” rating on shares of Starwood Hotels & Resorts Worldwide in a research note on Monday, July 28th. They now have a $83.00 price target on the stock. Finally, analysts at Raymond James raised their price target on shares of Starwood Hotels & Resorts Worldwide from $84.00 to $87.00 in a research note on Monday, July 28th. They now have an “outperform” rating on the stock.
Starwood Hotels & Resorts Worldwide (NYSE:HOT) opened at 84.54 on Tuesday. Starwood Hotels & Resorts Worldwide has a 1-year low of $63.85 and a 1-year high of $84.87. The stock has a 50-day moving average of $81.73 and a 200-day moving average of $79.74. The company has a market cap of $16.107 billion and a P/E ratio of 28.04. Starwood Hotels & Resorts Worldwide also was the target of a significant increase in short interest in August. As of August 15th, there was short interest totalling 3,109,789 shares, an increase of 53.4% from the July 31st total of 2,027,510 shares. Based on an average trading volume of 2,124,041 shares, the days-to-cover ratio is currently 1.5 days. Currently, 1.6% of the company’s stock are short sold.
Starwood Hotels & Resorts Worldwide (NYSE:HOT) last posted its quarterly earnings results on Thursday, July 24th. The company reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.76 by $0.01. The company had revenue of $1.54 billion for the quarter, compared to the consensus estimate of $1.54 billion. During the same quarter in the previous year, the company posted $0.79 earnings per share. The company’s revenue for the quarter was down 1.5% on a year-over-year basis. On average, analysts predict that Starwood Hotels & Resorts Worldwide will post $2.84 earnings per share for the current fiscal year.
The company also recently declared a special dividend, which is scheduled for Friday, September 26th. Investors of record on Friday, September 5th will be given a dividend of $0.65 per share. This represents a yield of 1.75%. The ex-dividend date of this dividend is Wednesday, September 3rd.
Starwood Hotels & Resorts Worldwide, Inc (NYSE:HOT) is a hotel and leisure company.
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