Choice Hotels International Inc. Declares Quarterly Dividend of $0.21 (CHH)
Choice Hotels International Inc. (NYSE:CHH) announced a quarterly dividend on Tuesday, September 20th. Stockholders of record on Monday, October 3rd will be given a dividend of 0.205 per share on Monday, October 17th. This represents a $0.82 annualized dividend and a dividend yield of 1.77%.
A number of brokerages recently commented on CHH. Bank of America Corp. reiterated a “buy” rating on shares of Choice Hotels International in a research report on Monday, July 18th. Wolfe Research began coverage on shares of Choice Hotels International in a research report on Wednesday, July 6th. They issued a “market perform” rating on the stock. JPMorgan Chase & Co. cut shares of Choice Hotels International from a “neutral” rating to an “underweight” rating and set a $43.00 target price on the stock. in a research report on Wednesday, June 1st. Morgan Stanley reiterated a “sell” rating and issued a $48.00 target price on shares of Choice Hotels International in a research report on Wednesday, August 3rd. Finally, Zacks Investment Research cut shares of Choice Hotels International from a “hold” rating to a “sell” rating in a research report on Tuesday, July 5th. Three analysts have rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $48.89.
Shares of Choice Hotels International (NYSE:CHH) opened at 46.28 on Tuesday. Choice Hotels International has a 52 week low of $40.78 and a 52 week high of $54.66. The stock’s 50 day moving average is $48.58 and its 200-day moving average is $48.93. The company has a market cap of $2.58 billion, a price-to-earnings ratio of 20.20 and a beta of 1.10.
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Choice Hotels International (NYSE:CHH) last announced its earnings results on Tuesday, August 2nd. The company reported $0.68 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.67 by $0.01. Choice Hotels International had a net margin of 14.32% and a negative return on equity of 33.53%. The business had revenue of $241.80 million for the quarter, compared to the consensus estimate of $244.21 million. During the same quarter in the prior year, the firm posted $0.62 earnings per share. The business’s revenue for the quarter was up 4.1% on a year-over-year basis. On average, equities analysts anticipate that Choice Hotels International will post $2.41 earnings per share for the current year.
In other news, COO Patrick Pacious sold 4,745 shares of the stock in a transaction on Friday, August 12th. The shares were sold at an average price of $48.73, for a total value of $231,223.85. Following the sale, the chief operating officer now owns 113,062 shares of the company’s stock, valued at $5,509,511.26. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Patrick Cimerola sold 13,515 shares of the stock in a transaction on Friday, September 2nd. The shares were sold at an average price of $48.21, for a total transaction of $651,558.15. Following the completion of the sale, the insider now directly owns 50,882 shares in the company, valued at approximately $2,453,021.22. The disclosure for this sale can be found here. 22.30% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of CHH. Pacer Advisors Inc. bought a new position in Choice Hotels International during the second quarter valued at approximately $218,000. UBS Oconnor LLC bought a new position in Choice Hotels International during the second quarter valued at approximately $280,000. AHL Partners LLP bought a new position in Choice Hotels International during the second quarter valued at approximately $333,000. OMERS ADMINISTRATION Corp bought a new position in Choice Hotels International during the second quarter valued at approximately $529,000. Finally, BlackRock Inc. increased its position in Choice Hotels International by 179.7% in the second quarter. BlackRock Inc. now owns 12,113 shares of the company’s stock valued at $577,000 after buying an additional 7,782 shares in the last quarter. 49.89% of the stock is currently owned by institutional investors.
About Choice Hotels International
Choice Hotels International, Inc (Choice) is a hotel franchisor. The Company operates in two segments: hotel franchising business and SkyTouch Technology (SkyTouch). It operates approximately 6,420 hotels open and over 720 hotels under construction, representing approximately 507,480 rooms open and over 58,130 rooms under construction, awaiting conversion or approved for development in approximately 50 states, the District of Columbia and over 35 countries and territories outside the United States.
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