$0.31 Earnings Per Share Expected for Diamondrock Hospitality Company (DRH) This Quarter
Brokerages expect that Diamondrock Hospitality Company (NYSE:DRH) will post earnings of $0.31 per share for the current quarter, according to Zacks Investment Research. Eight analysts have provided estimates for Diamondrock Hospitality’s earnings, with the highest EPS estimate coming in at $0.33 and the lowest estimate coming in at $0.29. Diamondrock Hospitality also reported earnings of $0.31 per share during the same quarter last year. The company is scheduled to issue its next quarterly earnings report after the market closes on Monday, August 7th.
According to Zacks, analysts expect that Diamondrock Hospitality will report full-year earnings of $1.00 per share for the current financial year, with EPS estimates ranging from $0.96 to $1.03. For the next year, analysts expect that the firm will report earnings of $1.00 per share, with EPS estimates ranging from $0.95 to $1.04. Zacks’ EPS calculations are a mean average based on a survey of sell-side analysts that cover Diamondrock Hospitality.
Diamondrock Hospitality (NYSE:DRH) last released its quarterly earnings data on Friday, May 5th. The real estate investment trust reported $0.18 earnings per share for the quarter, topping analysts’ consensus estimates of $0.17 by $0.01. Diamondrock Hospitality had a net margin of 12.15% and a return on equity of 5.83%. The company had revenue of $196.21 million for the quarter, compared to analysts’ expectations of $192.85 million. During the same quarter last year, the company earned $0.21 earnings per share. The firm’s revenue for the quarter was down 7.9% on a year-over-year basis.
DRH has been the subject of several research analyst reports. ING Group upgraded Diamondrock Hospitality to an “outperform” rating and set a $13.00 target price for the company in a research note on Monday, July 17th. They noted that the move was a valuation call. BidaskClub lowered Diamondrock Hospitality from a “buy” rating to a “hold” rating in a research report on Saturday, July 1st. UBS AG raised Diamondrock Hospitality from a “market perform” rating to an “outperform” rating in a research report on Friday, July 14th. Stifel Nicolaus raised Diamondrock Hospitality from a “hold” rating to a “buy” rating and increased their target price for the stock from $11.50 to $11.75 in a research report on Monday, May 15th. They noted that the move was a valuation call. Finally, Zacks Investment Research raised Diamondrock Hospitality from a “hold” rating to a “buy” rating and set a $13.00 target price on the stock in a research report on Thursday, June 8th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the company’s stock. Diamondrock Hospitality currently has a consensus rating of “Hold” and an average target price of $11.56.
Institutional investors have recently bought and sold shares of the company. UBS Asset Management Americas Inc. raised its position in Diamondrock Hospitality by 70.1% in the fourth quarter. UBS Asset Management Americas Inc. now owns 647,100 shares of the real estate investment trust’s stock worth $7,460,000 after buying an additional 266,681 shares in the last quarter. Teachers Advisors LLC raised its position in Diamondrock Hospitality by 1.2% in the fourth quarter. Teachers Advisors LLC now owns 1,430,574 shares of the real estate investment trust’s stock worth $16,495,000 after buying an additional 16,988 shares in the last quarter. Louisiana State Employees Retirement System raised its position in Diamondrock Hospitality by 1.2% in the first quarter. Louisiana State Employees Retirement System now owns 81,500 shares of the real estate investment trust’s stock worth $909,000 after buying an additional 1,000 shares in the last quarter. Everence Capital Management Inc. acquired a new position in Diamondrock Hospitality during the first quarter worth approximately $157,000. Finally, State of Alaska Department of Revenue raised its position in Diamondrock Hospitality by 19.4% in the first quarter. State of Alaska Department of Revenue now owns 176,749 shares of the real estate investment trust’s stock worth $1,969,000 after buying an additional 28,740 shares in the last quarter.
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Shares of Diamondrock Hospitality (NYSE DRH) opened at 11.62 on Monday. The firm has a market cap of $2.33 billion, a PE ratio of 21.92 and a beta of 1.38. Diamondrock Hospitality has a 12-month low of $8.73 and a 12-month high of $12.07. The firm’s 50-day moving average is $11.53 and its 200-day moving average is $11.24.
The business also recently declared 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 yield of 4.30%. The ex-dividend date was Wednesday, June 28th. Diamondrock Hospitality’s dividend payout ratio is 94.34%.
About Diamondrock Hospitality
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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