Analysts Anticipate Summit Hotel Properties Inc (NYSE:INN) to Announce $0.31 Earnings Per Share

Wall Street brokerages expect Summit Hotel Properties Inc (NYSE:INN) to announce earnings per share of $0.31 for the current quarter, according to Zacks. Five analysts have made estimates for Summit Hotel Properties’ earnings. The highest EPS estimate is $0.32 and the lowest is $0.30. Summit Hotel Properties reported earnings per share of $0.35 during the same quarter last year, which would suggest a negative year over year growth rate of 11.4%. The business is expected to issue its next quarterly earnings results after the market closes on Tuesday, November 5th.

On average, analysts expect that Summit Hotel Properties will report full-year earnings of $1.26 per share for the current financial year, with EPS estimates ranging from $1.25 to $1.28. For the next year, analysts expect that the business will report earnings of $1.26 per share, with EPS estimates ranging from $1.23 to $1.31. Zacks Investment Research’s EPS calculations are an average based on a survey of research analysts that cover Summit Hotel Properties.

Summit Hotel Properties (NYSE:INN) last released its quarterly earnings results on Wednesday, July 31st. The real estate investment trust reported $0.43 EPS for the quarter, topping the Zacks’ consensus estimate of $0.34 by $0.09. The business had revenue of $142.93 million for the quarter, compared to analyst estimates of $141.05 million. Summit Hotel Properties had a return on equity of 8.82% and a net margin of 18.95%. Summit Hotel Properties’s revenue for the quarter was down 6.1% on a year-over-year basis. During the same period in the prior year, the company earned $0.40 EPS.

A number of research firms recently commented on INN. ValuEngine upgraded Summit Hotel Properties from a “sell” rating to a “hold” rating in a research report on Thursday, August 15th. Capital One Financial initiated coverage on Summit Hotel Properties in a report on Tuesday, June 25th. They set an “equal weight” rating and a $13.00 price objective on the stock. Finally, Zacks Investment Research raised Summit Hotel Properties from a “hold” rating to a “buy” rating and set a $13.00 price objective on the stock in a report on Wednesday, September 25th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the stock. Summit Hotel Properties presently has a consensus rating of “Hold” and an average target price of $13.40.

NYSE INN traded up $0.05 during trading hours on Friday, reaching $12.18. 19,685 shares of the company’s stock were exchanged, compared to its average volume of 1,194,872. The stock has a market cap of $1.28 billion, a PE ratio of 9.01 and a beta of 1.20. Summit Hotel Properties has a one year low of $9.29 and a one year high of $12.63. The firm has a fifty day moving average of $11.65 and a 200-day moving average of $11.61. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.69.

In related news, COO Craig J. Aniszewski sold 40,000 shares of the firm’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $11.60, for a total transaction of $464,000.00. Following the sale, the chief operating officer now owns 397,913 shares of the company’s stock, valued at approximately $4,615,790.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 2.32% of the company’s stock.

A number of institutional investors have recently modified their holdings of the stock. Private Capital Group LLC grew its holdings in shares of Summit Hotel Properties by 82.7% in the 2nd quarter. Private Capital Group LLC now owns 3,263 shares of the real estate investment trust’s stock valued at $47,000 after acquiring an additional 1,477 shares in the last quarter. Tower Research Capital LLC TRC bought a new position in shares of Summit Hotel Properties in the 2nd quarter valued at about $69,000. NJ State Employees Deferred Compensation Plan bought a new position in shares of Summit Hotel Properties in the 3rd quarter valued at about $117,000. Coldstream Capital Management Inc. bought a new position in shares of Summit Hotel Properties in the 2nd quarter valued at about $123,000. Finally, CWM Advisors LLC grew its holdings in shares of Summit Hotel Properties by 8.5% in the 2nd quarter. CWM Advisors LLC now owns 14,840 shares of the real estate investment trust’s stock valued at $170,000 after acquiring an additional 1,160 shares in the last quarter.

About Summit Hotel Properties

Summit Hotel Properties, Inc is a publicly-traded real estate investment trust focused on owning premium-branded hotels with efficient operating models primarily in the upscale segment of the lodging industry. As of April 18, 2019, the Company's portfolio consisted of 69 hotels with a total of 10,714 guestrooms located in 24 states.

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