Summit Hotel Properties, Inc. (INN) Scheduled to Post Quarterly Earnings on Tuesday
Summit Hotel Properties, Inc. (NYSE:INN) will be announcing its earnings results after the market closes on Tuesday, October 31st. Analysts expect the company to announce earnings of $0.17 per share for the quarter. Summit Hotel Properties has set its Q3 guidance at $0.32 to $0.35 EPS and its FY17 guidance at $1.28 to $1.34 EPS.
Summit Hotel Properties (NYSE:INN) last issued its quarterly earnings results on Wednesday, August 2nd. The real estate investment trust reported $0.36 EPS for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.02). The business had revenue of $124.11 million for the quarter, compared to analyst estimates of $132.21 million. Summit Hotel Properties had a return on equity of 9.89% and a net margin of 21.97%. Summit Hotel Properties’s revenue for the quarter was down 2.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.42 EPS. On average, analysts expect Summit Hotel Properties to post $1.27 EPS for the current fiscal year and $1.42 EPS for the next fiscal year.
Summit Hotel Properties, Inc. (NYSE INN) opened at 15.61 on Tuesday. The stock’s 50 day moving average is $15.62 and its 200-day moving average is $16.77. The firm has a market cap of $1.63 billion, a price-to-earnings ratio of 17.08 and a beta of 1.22. Summit Hotel Properties, Inc. has a one year low of $12.45 and a one year high of $19.39.
In other news, Chairman Daniel P. Hansen purchased 10,000 shares of the company’s stock in a transaction on Wednesday, August 9th. The stock was acquired at an average price of $15.60 per share, with a total value of $156,000.00. Following the transaction, the chairman now directly owns 800,256 shares of the company’s stock, valued at approximately $12,483,993.60. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.71% of the company’s stock.
A number of brokerages have recently issued reports on INN. Zacks Investment Research raised shares of Summit Hotel Properties from a “hold” rating to a “buy” rating and set a $21.00 price objective for the company in a research note on Thursday, July 6th. Canaccord Genuity cut their price objective on shares of Summit Hotel Properties from $21.00 to $18.00 and set a “buy” rating for the company in a research note on Friday, August 4th. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $20.00 price objective on shares of Summit Hotel Properties in a research note on Friday, August 4th. KeyCorp raised shares of Summit Hotel Properties from a “sector weight” rating to an “overweight” rating and set a $17.00 price objective for the company in a research note on Tuesday, September 26th. Finally, BidaskClub cut shares of Summit Hotel Properties from a “hold” rating to a “sell” rating in a research note on Thursday, July 27th. Three analysts have rated the stock with a sell rating, two have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $17.75.
Summit Hotel Properties Company Profile
Summit Hotel Properties, Inc is a real estate investment trust (REIT). The Company is focused primarily on owning premium-branded, select-service hotels in the Upscale segment of the United States lodging industry. The Company’s portfolio consists of 79 hotels with a total of 11,590 guestrooms located in 24 states.
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