$290.09 Million in Sales Expected for Choice Hotels International, Inc. (CHH) This Quarter
Equities analysts expect Choice Hotels International, Inc. (NYSE:CHH) to announce sales of $290.09 million for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for Choice Hotels International’s earnings, with the lowest sales estimate coming in at $281.48 million and the highest estimate coming in at $299.88 million. Choice Hotels International reported sales of $267.58 million in the same quarter last year, which indicates a positive year-over-year growth rate of 8.4%. The business is scheduled to issue its next earnings report before the market opens on Thursday, November 2nd.
On average, analysts expect that Choice Hotels International will report full year sales of $290.09 million for the current financial year, with estimates ranging from $977.15 million to $1.01 billion. For the next year, analysts anticipate that the company will post sales of $1.04 billion per share, with estimates ranging from $1.02 billion to $1.06 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that follow Choice Hotels International.
Choice Hotels International (NYSE:CHH) last posted its quarterly earnings results on Wednesday, August 2nd. The company reported $0.79 earnings per share for the quarter, beating analysts’ consensus estimates of $0.77 by $0.02. Choice Hotels International had a net margin of 16.11% and a negative return on equity of 51.30%. The company had revenue of $276.80 million for the quarter, compared to the consensus estimate of $254.68 million. During the same period last year, the company posted $0.71 EPS. The firm’s quarterly revenue was up 14.5% compared to the same quarter last year.
A number of research analysts have commented on the stock. Zacks Investment Research upgraded shares of Choice Hotels International from a “hold” rating to a “buy” rating and set a $72.00 price target on the stock in a research report on Wednesday, July 5th. BidaskClub cut shares of Choice Hotels International from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 25th. Barclays PLC reiterated an “underweight” rating and set a $60.00 price target (down from $61.00) on shares of Choice Hotels International in a research report on Friday, August 4th. Finally, Deutsche Bank AG reduced their price target on shares of Choice Hotels International from $68.00 to $66.00 and set a “hold” rating on the stock in a research report on Thursday, August 3rd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $62.57.
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Shares of Choice Hotels International (NYSE:CHH) opened at 64.95 on Friday. Choice Hotels International has a 1-year low of $43.70 and a 1-year high of $67.80. The firm has a market capitalization of $3.64 billion, a P/E ratio of 23.99 and a beta of 1.12. The stock has a 50 day moving average of $61.94 and a 200-day moving average of $63.29.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 17th. Shareholders of record on Monday, October 2nd will be given a dividend of $0.215 per share. This represents a $0.86 dividend on an annualized basis and a yield of 1.32%. The ex-dividend date of this dividend is Friday, September 29th. Choice Hotels International’s payout ratio is currently 31.85%.
In other Choice Hotels International news, CEO Stephen P. Joyce sold 17,024 shares of the stock in a transaction that occurred on Wednesday, July 12th. The shares were sold at an average price of $63.02, for a total transaction of $1,072,852.48. Following the transaction, the chief executive officer now directly owns 176,943 shares in the company, valued at $11,150,947.86. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Stephen P. Joyce sold 44,116 shares of the stock in a transaction that occurred on Monday, July 10th. The shares were sold at an average price of $62.88, for a total transaction of $2,774,014.08. Following the transaction, the chief executive officer now owns 201,922 shares in the company, valued at $12,696,855.36. The disclosure for this sale can be found here. Insiders have sold 101,460 shares of company stock worth $6,337,153 over the last quarter. Company insiders own 22.01% of the company’s stock.
Several large investors have recently added to or reduced their stakes in CHH. BlackRock Inc. boosted its stake in shares of Choice Hotels International by 2,026.0% during the first quarter. BlackRock Inc. now owns 2,343,529 shares of the company’s stock valued at $146,706,000 after purchasing an additional 2,233,299 shares during the period. Renaissance Technologies LLC boosted its stake in shares of Choice Hotels International by 159.2% during the first quarter. Renaissance Technologies LLC now owns 521,800 shares of the company’s stock valued at $32,665,000 after purchasing an additional 320,500 shares during the period. Macquarie Group Ltd. boosted its stake in shares of Choice Hotels International by 61.9% during the first quarter. Macquarie Group Ltd. now owns 788,863 shares of the company’s stock valued at $49,383,000 after purchasing an additional 301,656 shares during the period. Teachers Advisors LLC boosted its stake in shares of Choice Hotels International by 409.0% during the first quarter. Teachers Advisors LLC now owns 314,681 shares of the company’s stock valued at $19,699,000 after purchasing an additional 252,857 shares during the period. Finally, Federated Investors Inc. PA purchased a new stake in shares of Choice Hotels International during the second quarter valued at approximately $14,852,000. 50.26% of the stock is owned by hedge funds and other institutional investors.
About Choice Hotels International
Choice Hotels International, Inc is a hotel franchisor. The Company’s segments include Hotel Franchising, SkyTouch Technology and Corporate & Other. It franchises lodging properties under brand names, including Comfort Inn, Comfort Suites, Quality, Clarion, Sleep Inn, Econo Lodge, Rodeway Inn, MainStay Suites, Suburban Extended Stay Hotel, Cambria hotels & suites, and Ascend Hotel Collection.
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