Zacks: Brokerages Expect DiamondRock Hospitality (NYSE:DRH) to Announce $0.26 Earnings Per Share

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Wall Street analysts expect DiamondRock Hospitality (NYSE:DRH) to report earnings of $0.26 per share for the current quarter, Zacks reports. Six analysts have issued estimates for DiamondRock Hospitality’s earnings. The highest EPS estimate is $0.27 and the lowest is $0.25. DiamondRock Hospitality posted earnings of $0.27 per share in the same quarter last year, which would suggest a negative year over year growth rate of 3.7%. The firm is expected to announce its next quarterly earnings report on Monday, November 4th.

On average, analysts expect that DiamondRock Hospitality will report full-year earnings of $1.03 per share for the current year, with EPS estimates ranging from $1.01 to $1.05. For the next fiscal year, analysts forecast that the company will report earnings of $1.01 per share, with EPS estimates ranging from $0.97 to $1.08. Zacks’ EPS calculations are an average based on a survey of analysts that that provide coverage for DiamondRock Hospitality.

DiamondRock Hospitality (NYSE:DRH) last issued its quarterly earnings data on Monday, August 5th. The real estate investment trust reported $0.32 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.31 by $0.01. The business had revenue of $257.92 million during the quarter, compared to analysts’ expectations of $253.67 million. DiamondRock Hospitality had a return on equity of 5.00% and a net margin of 10.32%. The company’s revenue was up 8.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.32 earnings per share.

A number of brokerages have issued reports on DRH. ValuEngine downgraded DiamondRock Hospitality from a “hold” rating to a “sell” rating in a report on Tuesday, July 2nd. Zacks Investment Research downgraded DiamondRock Hospitality from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 18th. TheStreet downgraded DiamondRock Hospitality from a “b-” rating to a “c+” rating in a report on Thursday, August 1st. Barclays reaffirmed a “hold” rating and set a $10.00 price target on shares of DiamondRock Hospitality in a report on Tuesday, August 13th. Finally, Wells Fargo & Co reaffirmed a “market perform” rating and set a $9.50 price target on shares of DiamondRock Hospitality in a report on Monday. Four analysts have rated the stock with a sell rating and five have assigned a hold rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $9.64.

In related news, Director Maureen L. Mcavey sold 8,000 shares of the company’s stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $10.36, for a total value of $82,880.00. Following the sale, the director now owns 91,688 shares in the company, valued at approximately $949,887.68. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.90% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Municipal Employees Retirement System of Michigan lifted its stake in DiamondRock Hospitality by 1.8% in the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 60,240 shares of the real estate investment trust’s stock valued at $623,000 after buying an additional 1,040 shares in the last quarter. Bank of Montreal Can lifted its stake in DiamondRock Hospitality by 2.3% in the 1st quarter. Bank of Montreal Can now owns 47,249 shares of the real estate investment trust’s stock valued at $511,000 after buying an additional 1,072 shares in the last quarter. Eqis Capital Management Inc. lifted its stake in DiamondRock Hospitality by 7.9% in the 1st quarter. Eqis Capital Management Inc. now owns 17,211 shares of the real estate investment trust’s stock valued at $186,000 after buying an additional 1,257 shares in the last quarter. Eii Capital Management Inc. lifted its stake in DiamondRock Hospitality by 1.5% in the 2nd quarter. Eii Capital Management Inc. now owns 90,775 shares of the real estate investment trust’s stock valued at $939,000 after buying an additional 1,305 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund lifted its stake in DiamondRock Hospitality by 1.7% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 81,927 shares of the real estate investment trust’s stock valued at $847,000 after buying an additional 1,400 shares in the last quarter.

NYSE:DRH traded down $0.11 during midday trading on Thursday, reaching $9.40. The company had a trading volume of 12,749 shares, compared to its average volume of 1,627,484. The firm has a market capitalization of $1.88 billion, a price-to-earnings ratio of 9.28, a PEG ratio of 1.82 and a beta of 1.38. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.65. The stock’s fifty day simple moving average is $9.89 and its 200-day simple moving average is $10.42. DiamondRock Hospitality has a 12-month low of $8.69 and a 12-month high of $12.08.

About DiamondRock Hospitality

DiamondRock Hospitality Company is a self-advised real estate investment trust (REIT) that is an owner of a leading portfolio of geographically diversified hotels concentrated in top gateway markets and destination resort locations. The Company owns 31 premium quality hotels with over 10,000 rooms. The Company has strategically positioned its hotels to be operated both under leading global brand families such as Hilton and Marriott as well as unique boutique hotels in the lifestyle segment.

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