CorePoint Lodging (NYSE:CPLG) Releases Earnings Results, Misses Expectations By $0.67 EPS

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CorePoint Lodging (NYSE:CPLG) issued its quarterly earnings data on Tuesday. The company reported ($0.32) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.35 by ($0.67), Fidelity Earnings reports. CorePoint Lodging had a negative return on equity of 6.78% and a negative net margin of 28.49%. The firm had revenue of $219.00 million during the quarter, compared to analyst estimates of $226.19 million.

NYSE:CPLG opened at $8.92 on Friday. The stock has a market cap of $632.73 million, a P/E ratio of 4.33 and a beta of 0.84. CorePoint Lodging has a one year low of $7.25 and a one year high of $22.86. The company has a fifty day moving average price of $11.84 and a 200 day moving average price of $12.58.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 8.97%. The ex-dividend date of this dividend is Friday, September 27th. CorePoint Lodging’s payout ratio is currently 38.83%.

A number of large investors have recently added to or reduced their stakes in CPLG. Donald Smith & CO. Inc. acquired a new position in CorePoint Lodging during the 1st quarter valued at $33,510,000. Vanguard Group Inc. raised its stake in CorePoint Lodging by 9.4% during the 2nd quarter. Vanguard Group Inc. now owns 6,611,680 shares of the company’s stock valued at $81,918,000 after purchasing an additional 569,063 shares during the last quarter. GW&K Investment Management LLC acquired a new position in CorePoint Lodging during the 2nd quarter valued at $4,421,000. Norges Bank bought a new stake in CorePoint Lodging in the 4th quarter valued at $4,201,000. Finally, Nuveen Asset Management LLC bought a new stake in CorePoint Lodging in the 2nd quarter valued at $3,900,000. Hedge funds and other institutional investors own 93.05% of the company’s stock.

A number of analysts have recently weighed in on the stock. JPMorgan Chase & Co. cut shares of CorePoint Lodging from a “neutral” rating to an “underweight” rating and reduced their price objective for the stock from $13.00 to $11.00 in a research note on Tuesday, July 9th. Zacks Investment Research upgraded shares of CorePoint Lodging from a “sell” rating to a “hold” rating in a research note on Tuesday, July 16th. Finally, ValuEngine upgraded shares of CorePoint Lodging from a “sell” rating to a “hold” rating in a research note on Thursday, August 1st.

About CorePoint Lodging

CorePoint Lodging Inc, a real estate investment trust company, operates midscale and upper-midscale select-service hotels primarily under the La Quinta brand. As of March 21, 2019, it had a portfolio of 313 hotels and approximately 40,000 rooms across 41 states in the United States. CorePoint Lodging Inc is based in Irving, Texas.

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