Zacks: Analysts Expect Summit Hotel Properties Inc (NYSE:INN) to Post $0.27 Earnings Per Share

Analysts expect Summit Hotel Properties Inc (NYSE:INN) to post $0.27 earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Five analysts have issued estimates for Summit Hotel Properties’ earnings. The highest EPS estimate is $0.28 and the lowest is $0.26. Summit Hotel Properties reported earnings of $0.30 per share in the same quarter last year, which would indicate a negative year-over-year growth rate of 10%. The company is expected to announce its next quarterly earnings results on Tuesday, February 25th.

On average, analysts expect that Summit Hotel Properties will report full-year earnings of $1.26 per share for the current year, with EPS estimates ranging from $1.24 to $1.27. For the next fiscal year, analysts anticipate that the business will post earnings of $1.28 per share, with EPS estimates ranging from $1.23 to $1.33. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of research firms that follow Summit Hotel Properties.

Summit Hotel Properties (NYSE:INN) last announced its quarterly earnings data on Tuesday, November 5th. The real estate investment trust reported $0.07 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.31 by ($0.24). The company had revenue of $133.69 million for the quarter, compared to analysts’ expectations of $133.52 million. Summit Hotel Properties had a return on equity of 6.65% and a net margin of 14.44%. The company’s revenue was down 6.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.35 earnings per share.

Several research analysts have recently weighed in on the stock. TheStreet lowered shares of Summit Hotel Properties from a “b-” rating to a “c+” rating in a report on Wednesday, November 6th. Zacks Investment Research lowered shares of Summit Hotel Properties from a “buy” rating to a “hold” rating in a report on Friday, November 1st. Finally, ValuEngine lowered shares of Summit Hotel Properties from a “hold” rating to a “sell” rating in a report on Friday, November 1st. Two analysts have rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the stock. Summit Hotel Properties has a consensus rating of “Hold” and a consensus target price of $13.25.

Shares of INN stock traded up $0.07 during trading hours on Monday, hitting $12.11. 653,495 shares of the company were exchanged, compared to its average volume of 682,893. The firm has a market cap of $1.31 billion, a PE ratio of 8.97 and a beta of 1.19. Summit Hotel Properties has a 1 year low of $9.29 and a 1 year high of $12.63. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.69. The firm has a fifty day moving average of $11.86 and a 200 day moving average of $11.65.

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be issued a $0.18 dividend. The ex-dividend date is Thursday, November 14th. This represents a $0.72 annualized dividend and a yield of 5.95%. Summit Hotel Properties’s payout ratio is 53.33%.

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

Institutional investors and hedge funds have recently bought and sold shares of the company. Swiss National Bank raised its stake in shares of Summit Hotel Properties by 2.1% during the second quarter. Swiss National Bank now owns 195,000 shares of the real estate investment trust’s stock valued at $2,237,000 after purchasing an additional 4,100 shares during the period. Natixis Advisors L.P. raised its stake in shares of Summit Hotel Properties by 4.3% during the second quarter. Natixis Advisors L.P. now owns 48,166 shares of the real estate investment trust’s stock valued at $552,000 after purchasing an additional 1,991 shares during the period. Citadel Advisors LLC raised its stake in shares of Summit Hotel Properties by 275.3% during the second quarter. Citadel Advisors LLC now owns 176,605 shares of the real estate investment trust’s stock valued at $2,026,000 after purchasing an additional 129,545 shares during the period. Chicago Equity Partners LLC purchased a new stake in shares of Summit Hotel Properties during the third quarter valued at approximately $2,418,000. Finally, Crossmark Global Holdings Inc. raised its stake in shares of Summit Hotel Properties by 7.9% during the second quarter. Crossmark Global Holdings Inc. now owns 15,970 shares of the real estate investment trust’s stock valued at $183,000 after purchasing an additional 1,170 shares during the period.

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.

Further Reading: Options Trading

Get a free copy of the Zacks research report on Summit Hotel Properties (INN)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Summit Hotel Properties (NYSE:INN)

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