CorePoint Lodging (CPLG) Releases Earnings Results, Misses Expectations By $0.18 EPS

CorePoint Lodging (NYSE:CPLG) issued its quarterly earnings results on Tuesday. The company reported ($0.22) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.04) by ($0.18), MarketWatch Earnings reports. The firm had revenue of $234.00 million during the quarter, compared to analysts’ expectations of $234.85 million.

Shares of CPLG traded down $0.20 during trading hours on Thursday, reaching $16.03. 1,858 shares of the company’s stock traded hands, compared to its average volume of 560,405. CorePoint Lodging has a 12 month low of $15.64 and a 12 month high of $28.30.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 15th. Stockholders of record on Monday, December 31st will be given a dividend of $0.20 per share. The ex-dividend date is Friday, December 28th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.99%.

Separately, JPMorgan Chase & Co. started coverage on CorePoint Lodging in a research report on Monday, October 15th. They set an “underweight” rating and a $16.00 price target for the company.

Several institutional investors and hedge funds have recently modified their holdings of CPLG. FMR LLC bought a new stake in shares of CorePoint Lodging during the 2nd quarter valued at about $54,284,000. Northern Trust Corp bought a new stake in shares of CorePoint Lodging during the 2nd quarter valued at about $15,374,000. JPMorgan Chase & Co. boosted its position in shares of CorePoint Lodging by 23.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,635,424 shares of the company’s stock valued at $51,259,000 after acquiring an additional 492,981 shares during the last quarter. MERIAN GLOBAL INVESTORS UK Ltd boosted its position in shares of CorePoint Lodging by 14,871.1% during the 3rd quarter. MERIAN GLOBAL INVESTORS UK Ltd now owns 356,462 shares of the company’s stock valued at $6,933,000 after acquiring an additional 354,081 shares during the last quarter. Finally, Wells Fargo & Company MN boosted its position in shares of CorePoint Lodging by 297.3% during the 3rd quarter. Wells Fargo & Company MN now owns 268,216 shares of the company’s stock valued at $5,216,000 after acquiring an additional 200,708 shares during the last quarter. Hedge funds and other institutional investors own 96.93% of the company’s stock.

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CorePoint Lodging Company Profile

CorePoint Lodging Inc, a real estate investment trust company, focuses on midscale and upper-midscale lodging business. As of May 31, 2018, it had a portfolio of 316 hotels and approximately 40,000 rooms across 41 states in the United States. CorePoint Lodging Inc is headquartered in Irving, Texas.

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