DiamondRock Hospitality (DRH) Expected to Post Quarterly Sales of $206.75 Million

Equities analysts expect DiamondRock Hospitality (NYSE:DRH) to post $206.75 million in sales for the current quarter, Zacks reports. Eight analysts have provided estimates for DiamondRock Hospitality’s earnings, with the lowest sales estimate coming in at $193.77 million and the highest estimate coming in at $217.30 million. DiamondRock Hospitality reported sales of $206.62 million during the same quarter last year, which indicates a positive year-over-year growth rate of 0.1%. The company is scheduled to report its next quarterly earnings report on Wednesday, February 28th.

According to Zacks, analysts expect that DiamondRock Hospitality will report full-year sales of $206.75 million for the current year, with estimates ranging from $856.74 million to $882.70 million. For the next financial year, analysts forecast that the company will report sales of $871.08 million per share, with estimates ranging from $828.90 million to $904.05 million. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that follow DiamondRock Hospitality.

DiamondRock Hospitality (NYSE:DRH) last posted its quarterly earnings data on Monday, November 6th. The real estate investment trust reported $0.25 EPS for the quarter, meeting the consensus estimate of $0.25. The business had revenue of $223.50 million for the quarter, compared to analysts’ expectations of $223.30 million. DiamondRock Hospitality had a net margin of 10.47% and a return on equity of 4.97%. The firm’s revenue was up 1.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.26 EPS.

Several brokerages have commented on DRH. KeyCorp reissued a “hold” rating on shares of DiamondRock Hospitality in a research report on Sunday, September 24th. Zacks Investment Research cut shares of DiamondRock Hospitality from a “hold” rating to a “sell” rating in a research report on Tuesday, November 14th. TheStreet raised shares of DiamondRock Hospitality from a “c+” rating to a “b-” rating in a research report on Friday, December 29th. Boenning Scattergood reissued a “sell” rating and set a $10.00 price target on shares of DiamondRock Hospitality in a research report on Wednesday, November 8th. Finally, Evercore ISI raised shares of DiamondRock Hospitality from an “in-line” rating to an “outperform” rating in a research report on Monday, December 4th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $12.00.

Shares of DiamondRock Hospitality (DRH) opened at $11.73 on Friday. The company has a market cap of $2,350.00, a price-to-earnings ratio of 26.07, a P/E/G ratio of 2.33 and a beta of 1.33. DiamondRock Hospitality has a 52-week low of $10.43 and a 52-week high of $12.07. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.41 and a quick ratio of 2.41.

The firm also recently declared a quarterly dividend, which was paid on Friday, January 12th. Shareholders of record on Friday, December 29th were given a dividend of $0.125 per share. The ex-dividend date of this dividend was Thursday, December 28th. This represents a $0.50 annualized dividend and a yield of 4.26%. DiamondRock Hospitality’s dividend payout ratio (DPR) is presently 111.11%.

A number of large investors have recently modified their holdings of DRH. Vanguard Group Inc. increased its stake in shares of DiamondRock Hospitality by 5.1% during the 2nd quarter. Vanguard Group Inc. now owns 34,866,908 shares of the real estate investment trust’s stock worth $381,793,000 after purchasing an additional 1,694,293 shares during the last quarter. BlackRock Inc. increased its stake in shares of DiamondRock Hospitality by 4.6% during the 2nd quarter. BlackRock Inc. now owns 32,509,608 shares of the real estate investment trust’s stock worth $355,983,000 after purchasing an additional 1,421,711 shares during the last quarter. Ameriprise Financial Inc. increased its stake in shares of DiamondRock Hospitality by 49.7% during the 2nd quarter. Ameriprise Financial Inc. now owns 1,672,992 shares of the real estate investment trust’s stock worth $18,321,000 after purchasing an additional 555,459 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of DiamondRock Hospitality by 19.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,340,041 shares of the real estate investment trust’s stock worth $36,640,000 after purchasing an additional 538,429 shares during the last quarter. Finally, Resolution Capital Ltd increased its stake in shares of DiamondRock Hospitality by 8.0% during the 3rd quarter. Resolution Capital Ltd now owns 7,232,784 shares of the real estate investment trust’s stock worth $79,199,000 after purchasing an additional 535,876 shares during the last quarter.

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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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Earnings History and Estimates for DiamondRock Hospitality (NYSE:DRH)

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