Choice Hotels International Inc. to Issue Quarterly Dividend of $0.21 (CHH)
Choice Hotels International Inc. (NYSE:CHH) announced a quarterly dividend on Tuesday, September 20th. Shareholders of record on Monday, October 3rd will be given a dividend of 0.205 per share on Monday, October 17th. This represents a $0.82 annualized dividend and a yield of 1.77%.
Several research firms have weighed in on CHH. Deutsche Bank AG reaffirmed a “hold” rating on shares of Choice Hotels International in a research report on Sunday, June 26th. Zacks Investment Research raised Choice Hotels International from a “sell” rating to a “hold” rating in a research report on Thursday, August 4th. Morgan Stanley reaffirmed a “sell” rating and set a $48.00 price objective on shares of Choice Hotels International in a research report on Wednesday, August 3rd. JPMorgan Chase & Co. cut Choice Hotels International from a “neutral” rating to an “underweight” rating and set a $43.00 price target on the stock. in a research report on Wednesday, June 1st. Finally, Wolfe Research assumed coverage on Choice Hotels International in a research report on Wednesday, July 6th. They issued a “market perform” rating on the stock. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $48.89.
Choice Hotels International (NYSE:CHH) opened at 46.28 on Wednesday. Choice Hotels International has a one year low of $40.78 and a one year high of $54.66. The company has a 50-day moving average of $48.52 and a 200-day moving average of $48.89. The stock has a market capitalization of $2.58 billion, a price-to-earnings ratio of 20.20 and a beta of 1.10.
Choice Hotels International (NYSE:CHH) last posted its quarterly earnings data on Tuesday, August 2nd. The company reported $0.68 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.67 by $0.01. Choice Hotels International had a net margin of 14.32% and a negative return on equity of 33.53%. The company had revenue of $241.80 million for the quarter, compared to analyst estimates of $244.21 million. During the same period in the prior year, the company posted $0.62 EPS. The firm’s revenue for the quarter was up 4.1% on a year-over-year basis. On average, equities analysts forecast that Choice Hotels International will post $2.41 EPS for the current fiscal year.
In other news, insider Patrick Cimerola sold 13,515 shares of the firm’s stock in a transaction that occurred on Friday, September 2nd. The shares were sold at an average price of $48.21, for a total transaction of $651,558.15. Following the transaction, the insider now directly owns 50,882 shares of the company’s stock, valued at $2,453,021.22. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, COO Patrick Pacious sold 4,745 shares of the firm’s stock in a transaction that occurred on Friday, August 12th. The stock was sold at an average price of $48.73, for a total transaction of $231,223.85. Following the transaction, the chief operating officer now directly owns 113,062 shares in the company, valued at $5,509,511.26. The disclosure for this sale can be found here. Insiders own 22.30% of the company’s stock.
Institutional investors have recently modified their holdings of the company. Atlanta Capital Management Co. L L C raised its position in shares of Choice Hotels International by 6.5% in the second quarter. Atlanta Capital Management Co. L L C now owns 762,789 shares of the company’s stock worth $36,324,000 after buying an additional 46,847 shares during the period. State Street Corp raised its position in shares of Choice Hotels International by 0.3% in the second quarter. State Street Corp now owns 464,816 shares of the company’s stock worth $22,137,000 after buying an additional 1,219 shares during the period. Citadel Advisors LLC raised its position in shares of Choice Hotels International by 124.6% in the second quarter. Citadel Advisors LLC now owns 457,760 shares of the company’s stock worth $21,799,000 after buying an additional 253,948 shares during the period. State of Wisconsin Investment Board raised its position in shares of Choice Hotels International by 19.8% in the second quarter. State of Wisconsin Investment Board now owns 227,073 shares of the company’s stock worth $10,813,000 after buying an additional 37,500 shares during the period. Finally, AQR Capital Management LLC bought a new position in shares of Choice Hotels International during the second quarter worth approximately $2,789,000. 49.89% of the stock is currently owned by institutional investors and hedge funds.
About Choice Hotels International
Choice Hotels International, Inc (Choice) is a hotel franchisor. The Company operates in two segments: hotel franchising business and SkyTouch Technology (SkyTouch). It operates approximately 6,420 hotels open and over 720 hotels under construction, representing approximately 507,480 rooms open and over 58,130 rooms under construction, awaiting conversion or approved for development in approximately 50 states, the District of Columbia and over 35 countries and territories outside the United States.
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