CorePoint Lodging (NYSE:CPLG) Issues Earnings Results

CorePoint Lodging (NYSE:CPLG) issued its earnings results on Tuesday. The company reported ($0.32) earnings per share for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.67), Fidelity Earnings reports. The business had revenue of $219.00 million for the quarter, compared to the consensus estimate of $226.19 million. CorePoint Lodging had a negative return on equity of 7.22% and a negative net margin of 31.35%.

NYSE:CPLG traded down $3.14 on Wednesday, reaching $7.76. 21,189 shares of the company’s stock were exchanged, compared to its average volume of 457,858. The firm has a market capitalization of $635.06 million, a price-to-earnings ratio of 3.77 and a beta of 0.84. CorePoint Lodging has a 52 week low of $10.16 and a 52 week high of $25.21. The company has a fifty day moving average of $11.99.

Hedge funds have recently added to or reduced their stakes in the company. Aperio Group LLC bought a new position in shares of CorePoint Lodging in the second quarter valued at approximately $25,000. Quantamental Technologies LLC boosted its position in shares of CorePoint Lodging by 29.1% in the first quarter. Quantamental Technologies LLC now owns 4,600 shares of the company’s stock valued at $51,000 after acquiring an additional 1,037 shares during the period. Meeder Asset Management Inc. boosted its position in shares of CorePoint Lodging by 139.7% in the second quarter. Meeder Asset Management Inc. now owns 4,099 shares of the company’s stock valued at $51,000 after acquiring an additional 2,389 shares during the period. Nisa Investment Advisors LLC boosted its position in shares of CorePoint Lodging by 82.2% in the second quarter. Nisa Investment Advisors LLC now owns 5,073 shares of the company’s stock valued at $63,000 after acquiring an additional 2,288 shares during the period. Finally, BNP Paribas Arbitrage SA boosted its position in shares of CorePoint Lodging by 38.4% in the first quarter. BNP Paribas Arbitrage SA now owns 9,600 shares of the company’s stock valued at $107,000 after acquiring an additional 2,662 shares during the period. Institutional investors own 93.05% of the company’s stock.

CPLG has been the subject of a number of research reports. Zacks Investment Research upgraded shares of CorePoint Lodging from a “sell” rating to a “hold” rating in a research report on Tuesday, July 16th. ValuEngine upgraded shares of CorePoint Lodging from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st. Finally, JPMorgan Chase & Co. lowered shares of CorePoint Lodging from a “neutral” rating to an “underweight” rating and cut their target price for the stock from $13.00 to $11.00 in a research report on Tuesday, July 9th.

CorePoint Lodging Company Profile

CorePoint Lodging Inc, a real estate investment trust company, operates midscale and upper-midscale select-service hotels primarily under the La Quinta brand. As of March 21, 2019, it had a portfolio of 313 hotels and approximately 40,000 rooms across 41 states in the United States. CorePoint Lodging Inc is based in Irving, Texas.

Featured Article: What are the most popular ETFs

Receive News & Ratings for CorePoint Lodging Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CorePoint Lodging and related companies with MarketBeat.com's FREE daily email newsletter.