DiamondRock Hospitality (NYSE:DRH) Issues Earnings Results, Beats Expectations By $0.01 EPS

DiamondRock Hospitality (NYSE:DRH) posted its quarterly earnings results on Tuesday. The real estate investment trust reported $0.16 earnings per share for the quarter, beating analysts’ consensus estimates of $0.15 by $0.01, Zacks reports. DiamondRock Hospitality had a return on equity of 4.04% and a net margin of 5.69%. The business had revenue of $297.60 million for the quarter, compared to analysts’ expectations of $292.08 million. During the same quarter in the prior year, the business earned $0.29 EPS. The firm’s revenue for the quarter was up 4.3% on a year-over-year basis.

DiamondRock Hospitality Stock Performance

DRH stock traded down $0.48 during trading hours on Thursday, hitting $14.15. 404,503 shares of the stock were exchanged, compared to its average volume of 2,556,837. The company has a current ratio of 1.64, a quick ratio of 1.64 and a debt-to-equity ratio of 0.70. The firm has a market capitalization of $2.89 billion, a P/E ratio of 56.60, a P/E/G ratio of 4.50 and a beta of 1.04. The company has a 50-day simple moving average of $12.89 and a two-hundred day simple moving average of $11.38. DiamondRock Hospitality has a 12 month low of $8.14 and a 12 month high of $14.72.

Wall Street Analyst Weigh In

DRH has been the topic of several research reports. Bank of America upped their price objective on shares of DiamondRock Hospitality from $12.50 to $13.00 and gave the company a “buy” rating in a report on Monday, July 20th. Truist Financial lifted their target price on shares of DiamondRock Hospitality from $12.00 to $15.00 and gave the stock a “buy” rating in a report on Thursday, September 10th. Zacks Research cut shares of DiamondRock Hospitality from a “strong-buy” rating to a “hold” rating in a report on Monday, September 28th. Stifel Nicolaus increased their price target on shares of DiamondRock Hospitality from $12.50 to $13.25 and gave the company a “hold” rating in a report on Friday, July 31st. Finally, Wells Fargo & Company raised their price objective on shares of DiamondRock Hospitality from $13.00 to $14.00 and gave the stock an “equal weight” rating in a research report on Monday, October 26th. Four analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $13.03.

About DiamondRock Hospitality

DiamondRock Hospitality Company (NYSE: DRH) is a self-advised real estate investment trust that owns a portfolio of hotels and resort properties in the United States. The company focuses on lodging real estate in leisure destinations and gateway markets, with properties serving business travelers, vacationers, and group customers.

DiamondRock’s portfolio includes hotels operated under nationally recognized brands as well as independent and boutique properties. Its business activities include acquiring, owning, leasing, and strategically managing hospitality real estate, while day-to-day hotel operations are generally carried out by third-party management companies and brand operators.

The company was formed in 2004 through a spin-off from Marriott International and is headquartered in Bethesda, Maryland.