Analysts Expect Diamondrock Hospitality Company (NYSE:DRH) Will Post Quarterly Sales of $241.23 Million
Wall Street brokerages expect that Diamondrock Hospitality Company (NYSE:DRH) will announce sales of $241.23 million for the current quarter, Zacks Investment Research reports. Eight analysts have provided estimates for Diamondrock Hospitality’s earnings. The lowest sales estimate is $226.86 million and the highest is $258.28 million. Diamondrock Hospitality posted sales of $256.66 million during the same quarter last year, which suggests a negative year over year growth rate of 6%. The company is scheduled to announce its next quarterly earnings report before the market opens on Tuesday, August 8th.
On average, analysts expect that Diamondrock Hospitality will report full year sales of $241.23 million for the current financial year, with estimates ranging from $847.40 million to $889.39 million. For the next year, analysts forecast that the business will post sales of $889.67 million per share, with estimates ranging from $854.18 million to $914.09 million. Zacks’ sales calculations are a mean average based on a survey of research analysts that follow Diamondrock Hospitality.
Diamondrock Hospitality (NYSE:DRH) last released its quarterly earnings results on Friday, May 5th. The real estate investment trust reported $0.18 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.17 by $0.01. The company had revenue of $196.21 million for the quarter, compared to the consensus estimate of $192.85 million. Diamondrock Hospitality had a net margin of 12.15% and a return on equity of 5.83%. Diamondrock Hospitality’s revenue was down 7.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.21 earnings per share.
Several equities research analysts have issued reports on DRH shares. Zacks Investment Research cut shares of Diamondrock Hospitality from a “buy” rating to a “hold” rating in a research note on Wednesday, June 7th. Goldman Sachs Group, Inc. (The) initiated coverage on shares of Diamondrock Hospitality in a research report on Monday, April 10th. They set a “neutral” rating and a $11.00 price target on the stock. BidaskClub cut shares of Diamondrock Hospitality from a “buy” rating to a “hold” rating in a research report on Saturday, July 1st. Boenning Scattergood reissued an “underperform” rating and set a $10.00 price target on shares of Diamondrock Hospitality in a research report on Tuesday, April 18th. Finally, Canaccord Genuity reissued a “buy” rating and set a $13.00 price target on shares of Diamondrock Hospitality in a research report on Monday, May 15th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $11.56.
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Diamondrock Hospitality (NYSE DRH) traded down 0.26% during midday trading on Wednesday, reaching $11.56. 2,621,099 shares of the company were exchanged. The firm’s 50 day moving average price is $11.45 and its 200-day moving average price is $11.23. Diamondrock Hospitality has a 52 week low of $8.73 and a 52 week high of $12.08. The stock has a market capitalization of $2.32 billion, a P/E ratio of 21.81 and a beta of 1.37.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 12th. Investors of record on Friday, June 30th were issued a $0.125 dividend. The ex-dividend date of this dividend was Wednesday, June 28th. This represents a $0.50 annualized dividend and a yield of 4.33%. Diamondrock Hospitality’s dividend payout ratio (DPR) is currently 94.34%.
A number of hedge funds have recently modified their holdings of the stock. World Asset Management Inc raised its stake in shares of Diamondrock Hospitality by 0.9% in the first quarter. World Asset Management Inc now owns 12,765 shares of the real estate investment trust’s stock valued at $142,000 after buying an additional 108 shares during the period. Ronald Blue & Co. LLC raised its stake in shares of Diamondrock Hospitality by 4.6% in the first quarter. Ronald Blue & Co. LLC now owns 11,087 shares of the real estate investment trust’s stock valued at $124,000 after buying an additional 483 shares during the period. Meadow Creek Investment Management LLC raised its stake in shares of Diamondrock Hospitality by 6.3% in the first quarter. Meadow Creek Investment Management LLC now owns 10,892 shares of the real estate investment trust’s stock valued at $122,000 after buying an additional 644 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Diamondrock Hospitality by 5.7% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,706 shares of the real estate investment trust’s stock valued at $153,000 after buying an additional 741 shares during the period. Finally, Glen Harbor Capital Management LLC raised its stake in shares of Diamondrock Hospitality by 6.3% in the first quarter. Glen Harbor Capital Management LLC now owns 13,226 shares of the real estate investment trust’s stock valued at $148,000 after buying an additional 782 shares during the period.
Diamondrock Hospitality Company Profile
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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