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.

WARNING: “Summit Hotel Properties, Inc. (INN) Scheduled to Post Quarterly Earnings on Tuesday” was posted by American Banking News and is owned by of American Banking News. If you are viewing this story on another publication, it was stolen and reposted in violation of US & international trademark and copyright laws. The correct version of this story can be read at https://www.americanbankingnews.com/2017/10/24/summit-hotel-properties-inc-inn-scheduled-to-post-quarterly-earnings-on-tuesday.html.

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.

Earnings History for Summit Hotel Properties (NYSE:INN)

Receive News & Ratings for Summit Hotel Properties Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Summit Hotel Properties Inc. and related companies with MarketBeat.com's FREE daily email newsletter.