Wall Street brokerages expect DiamondRock Hospitality (NYSE:DRH) to post $236.84 million in sales for the current quarter, according to Zacks Investment Research. Six analysts have made estimates for DiamondRock Hospitality’s earnings. The highest sales estimate is $244.52 million and the lowest is $225.08 million. DiamondRock Hospitality reported sales of $220.82 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 7.3%. The firm is scheduled to announce its next earnings report on Monday, November 4th.
According to Zacks, analysts expect that DiamondRock Hospitality will report full-year sales of $932.52 million for the current year, with estimates ranging from $911.56 million to $945.83 million. For the next financial year, analysts forecast that the company will report sales of $971.66 million, with estimates ranging from $916.65 million to $1.01 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for DiamondRock Hospitality.
DiamondRock Hospitality (NYSE:DRH) last released its earnings results on Monday, August 5th. The real estate investment trust reported $0.32 EPS for the quarter, topping analysts’ consensus estimates of $0.31 by $0.01. DiamondRock Hospitality had a return on equity of 5.00% and a net margin of 10.32%. The company had revenue of $257.92 million for the quarter, compared to the consensus estimate of $253.67 million. During the same quarter last year, the business posted $0.32 EPS. DiamondRock Hospitality’s quarterly revenue was up 8.4% compared to the same quarter last year.
NYSE:DRH traded down $0.01 during trading hours on Wednesday, reaching $9.79. 1,164,377 shares of the stock were exchanged, compared to its average volume of 2,359,425. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 0.65. The firm has a 50 day simple moving average of $9.84 and a 200-day simple moving average of $10.22. DiamondRock Hospitality has a 52 week low of $8.69 and a 52 week high of $11.26. The stock has a market capitalization of $1.98 billion, a P/E ratio of 9.60, a P/E/G ratio of 1.92 and a beta of 1.38.
The business also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Monday, September 30th will be issued a $0.125 dividend. This represents a $0.50 annualized dividend and a dividend yield of 5.11%. The ex-dividend date is Friday, September 27th. DiamondRock Hospitality’s dividend payout ratio (DPR) is 49.02%.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. First Hawaiian Bank lifted its holdings in shares of DiamondRock Hospitality by 8.3% in the 3rd quarter. First Hawaiian Bank now owns 19,165 shares of the real estate investment trust’s stock worth $197,000 after purchasing an additional 1,462 shares during the last quarter. State of Alaska Department of Revenue lifted its holdings in shares of DiamondRock Hospitality by 16.0% in the 3rd quarter. State of Alaska Department of Revenue now owns 170,402 shares of the real estate investment trust’s stock worth $1,746,000 after purchasing an additional 23,537 shares during the last quarter. Hancock Whitney Corp bought a new stake in shares of DiamondRock Hospitality in the 2nd quarter worth approximately $115,000. Magnetar Financial LLC lifted its holdings in shares of DiamondRock Hospitality by 4.1% in the 2nd quarter. Magnetar Financial LLC now owns 36,340 shares of the real estate investment trust’s stock worth $376,000 after purchasing an additional 1,429 shares during the last quarter. Finally, Prudential PLC bought a new stake in shares of DiamondRock Hospitality in the 2nd quarter worth approximately $5,810,000.
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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