Zacks: Analysts Expect Diamondrock Hospitality Company (NYSE:DRH) Will Announce Quarterly Sales of $241.19 Million
Wall Street analysts expect that Diamondrock Hospitality Company (NYSE:DRH) will announce $241.19 million in sales for the current fiscal quarter, Zacks Investment Research reports. Eight analysts have made estimates for Diamondrock Hospitality’s earnings. The highest sales estimate is $258.28 million and the lowest is $226.86 million. Diamondrock Hospitality reported sales of $256.66 million in the same quarter last year, which would suggest a negative year-over-year growth rate of 6%. The firm is scheduled to report its next quarterly earnings report before the market opens on Tuesday, August 8th.
On average, analysts expect that Diamondrock Hospitality will report full-year sales of $241.19 million for the current fiscal year, with estimates ranging from $847.40 million to $889.23 million. For the next financial year, analysts forecast that the business will post sales of $890.07 million per share, with estimates ranging from $854.18 million to $914.09 million. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that follow Diamondrock Hospitality.
Diamondrock Hospitality (NYSE:DRH) last posted its quarterly earnings results on Friday, May 5th. The real estate investment trust reported $0.18 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.17 by $0.01. Diamondrock Hospitality had a net margin of 12.15% and a return on equity of 5.83%. The firm had revenue of $196.21 million during the quarter, compared to the consensus estimate of $192.85 million. During the same quarter in the previous year, the firm posted $0.21 earnings per share. The company’s revenue was down 7.9% on a year-over-year basis.
DRH has been the topic of a number of recent analyst reports. Stifel Nicolaus raised shares of Diamondrock Hospitality from a “hold” rating to a “buy” rating and increased their price objective for the company from $11.50 to $11.75 in a research report on Monday, May 15th. They noted that the move was a valuation call. Zacks Investment Research downgraded shares of Diamondrock Hospitality from a “buy” rating to a “hold” rating in a research report on Thursday, May 25th. Goldman Sachs Group, Inc. (The) assumed coverage on shares of Diamondrock Hospitality in a research report on Monday, April 10th. They issued a “neutral” rating and a $11.00 target price on the stock. Boenning Scattergood reissued an “underperform” rating and set a $10.00 price objective on shares of Diamondrock Hospitality in a research report on Tuesday, April 18th. Finally, Canaccord Genuity reissued a “buy” rating and set a $13.00 price objective on shares of Diamondrock Hospitality in a research report on Monday, May 15th. Three research analysts have rated the stock with a sell rating, five have given a hold rating and eight have issued a buy rating to the company’s stock. Diamondrock Hospitality has an average rating of “Hold” and a consensus target price of $11.56.
Several hedge funds have recently made changes to their positions in DRH. Meeder Asset Management Inc. acquired a new position in shares of Diamondrock Hospitality during the first quarter worth about $116,000. Meadow Creek Investment Management LLC boosted its position in shares of Diamondrock Hospitality by 6.3% in the first quarter. Meadow Creek Investment Management LLC now owns 10,892 shares of the real estate investment trust’s stock worth $122,000 after buying an additional 644 shares during the last quarter. Ronald Blue & Co. LLC boosted its position in shares of Diamondrock Hospitality by 4.6% in the first quarter. Ronald Blue & Co. LLC now owns 11,087 shares of the real estate investment trust’s stock worth $124,000 after buying an additional 483 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. boosted its position in shares of Diamondrock Hospitality by 217.4% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 10,950 shares of the real estate investment trust’s stock worth $126,000 after buying an additional 7,500 shares during the last quarter. Finally, Piedmont Investment Advisors LLC acquired a new position in shares of Diamondrock Hospitality during the first quarter worth about $134,000.
Shares of Diamondrock Hospitality (NYSE DRH) traded up 0.127% during trading on Wednesday, reaching $11.825. 429,780 shares of the company traded hands. The company has a market capitalization of $2.37 billion, a price-to-earnings ratio of 22.311 and a beta of 1.37. Diamondrock Hospitality has a 52 week low of $8.73 and a 52 week high of $12.08. The firm’s 50 day moving average price is $11.41 and its 200-day moving average price is $11.22.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 12th. Investors of record on Friday, June 30th were paid a $0.125 dividend. This represents a $0.50 annualized dividend and a dividend yield of 4.23%. The ex-dividend date was Wednesday, June 28th. Diamondrock Hospitality’s dividend payout ratio (DPR) is 94.34%.
Diamondrock Hospitality Company Profile
DiamondRock Hospitality Company is a real estate investment trust (REIT). As of December 31, 2016, the Company owned a portfolio of 26 hotels and resorts that contains 9,472 guest rooms located in 17 different markets in North America and the United States Virgin Islands. Its business is to acquire, own, asset manage and renovate hotel properties in the United States.
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