FY2019 EPS Estimates for DiamondRock Hospitality Increased by Analyst (NYSE:DRH)

DiamondRock Hospitality (NYSE:DRH) – Equities research analysts at KeyCorp increased their FY2019 earnings per share estimates for DiamondRock Hospitality in a research note issued to investors on Tuesday, July 9th. KeyCorp analyst A. Wurschmidt now forecasts that the real estate investment trust will earn $1.01 per share for the year, up from their prior estimate of $1.00. KeyCorp also issued estimates for DiamondRock Hospitality’s FY2020 earnings at $0.99 EPS.

DiamondRock Hospitality (NYSE:DRH) last posted its earnings results on Wednesday, May 8th. The real estate investment trust reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.14). DiamondRock Hospitality had a net margin of 10.44% and a return on equity of 4.90%. The company had revenue of $202.38 million during the quarter, compared to analysts’ expectations of $194.62 million. During the same period in the previous year, the company posted $0.17 EPS. DiamondRock Hospitality’s quarterly revenue was up 11.5% compared to the same quarter last year.

DRH has been the topic of a number of other research reports. ValuEngine lowered Zumiez from a “hold” rating to a “sell” rating in a research note on Tuesday, July 2nd. Wells Fargo & Co raised Centurylink from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $12.00 to $14.00 in a research note on Wednesday, June 26th. Finally, Zacks Investment Research lowered ExlService from a “hold” rating to a “sell” rating in a research note on Wednesday. Four equities research analysts have rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $10.19.

Shares of DiamondRock Hospitality stock opened at $10.17 on Friday. DiamondRock Hospitality has a fifty-two week low of $8.69 and a fifty-two week high of $12.39. The stock has a market cap of $2.03 billion, a price-to-earnings ratio of 9.97, a PEG ratio of 1.95 and a beta of 1.39. The business’s fifty day simple moving average is $10.19. The company has a current ratio of 1.54, a quick ratio of 1.54 and a debt-to-equity ratio of 0.62.

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 12th. Stockholders of record on Friday, June 28th were issued a dividend of $0.125 per share. The ex-dividend date was Thursday, June 27th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 4.92%. DiamondRock Hospitality’s payout ratio is 49.02%.

In other news, Director Maureen L. Mcavey sold 8,000 shares of the company’s stock in a transaction on Friday, June 28th. The stock was sold at an average price of $10.36, for a total transaction of $82,880.00. Following the completion of the sale, the director now directly 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 available at this link. Corporate insiders own 0.90% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the company. Bank of Montreal Can increased its holdings in shares of DiamondRock Hospitality by 2.3% during the 1st quarter. Bank of Montreal Can now owns 47,249 shares of the real estate investment trust’s stock worth $511,000 after buying an additional 1,072 shares during the last quarter. Eqis Capital Management Inc. increased its holdings in shares of DiamondRock Hospitality by 7.9% during the 1st quarter. Eqis Capital Management Inc. now owns 17,211 shares of the real estate investment trust’s stock worth $186,000 after buying an additional 1,257 shares during the last quarter. Eii Capital Management Inc. increased its holdings in shares of DiamondRock Hospitality by 1.5% during the 2nd quarter. Eii Capital Management Inc. now owns 90,775 shares of the real estate investment trust’s stock worth $939,000 after buying an additional 1,305 shares during the last quarter. Piedmont Investment Advisors Inc. increased its holdings in shares of DiamondRock Hospitality by 2.8% during the 1st quarter. Piedmont Investment Advisors Inc. now owns 50,873 shares of the real estate investment trust’s stock worth $551,000 after buying an additional 1,405 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund increased its holdings in shares of DiamondRock Hospitality by 1.8% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 80,527 shares of the real estate investment trust’s stock worth $872,000 after buying an additional 1,455 shares during the last quarter.

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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Earnings History and Estimates for DiamondRock Hospitality (NYSE:DRH)

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