Zacks: Brokerages Anticipate Summit Hotel Properties Llc (INN) Will Post Quarterly Sales of $138.89 Million

Equities research analysts expect Summit Hotel Properties Llc (NYSE:INN) to post $138.89 million in sales for the current fiscal quarter, according to Zacks. Four analysts have provided estimates for Summit Hotel Properties’ earnings, with estimates ranging from $137.27 million to $141.20 million. Summit Hotel Properties posted sales of $117.99 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 17.7%. The firm is expected to announce its next quarterly earnings report after the market closes on Wednesday, May 2nd.

According to Zacks, analysts expect that Summit Hotel Properties will report full-year sales of $138.89 million for the current financial year, with estimates ranging from $576.90 million to $584.62 million. For the next financial year, analysts forecast that the firm will post sales of $600.38 million per share, with estimates ranging from $593.82 million to $609.76 million. Zacks’ sales averages are an average based on a survey of sell-side analysts that that provide coverage for Summit Hotel Properties.

Summit Hotel Properties (NYSE:INN) last issued its quarterly earnings data on Wednesday, February 21st. The real estate investment trust reported $0.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.05 by $0.25. The firm had revenue of $131.75 million during the quarter, compared to analysts’ expectations of $126.28 million. Summit Hotel Properties had a return on equity of 8.41% and a net margin of 19.25%. Summit Hotel Properties’s revenue was up 19.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.30 earnings per share.



INN has been the subject of several recent research reports. ValuEngine raised Summit Hotel Properties from a “hold” rating to a “buy” rating in a research report on Wednesday, March 28th. Royal Bank of Canada reissued a “buy” rating and set a $16.00 price target on shares of Summit Hotel Properties in a research report on Tuesday, February 27th. Robert W. Baird set a $16.00 price target on Summit Hotel Properties and gave the stock a “buy” rating in a research report on Monday, February 26th. Deutsche Bank dropped their price target on Summit Hotel Properties from $17.00 to $16.00 and set a “buy” rating for the company in a research report on Monday, February 26th. Finally, Cantor Fitzgerald set a $17.00 price target on Summit Hotel Properties and gave the stock a “buy” rating in a research report on Friday, February 23rd. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the company. Summit Hotel Properties presently has an average rating of “Hold” and a consensus target price of $16.83.

Summit Hotel Properties stock opened at $13.64 on Thursday. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.68. The firm has a market cap of $1,407.37, a price-to-earnings ratio of 10.18, a P/E/G ratio of 4.81 and a beta of 1.23. Summit Hotel Properties has a fifty-two week low of $12.77 and a fifty-two week high of $19.39.

Several large investors have recently made changes to their positions in the company. Elkfork Partners LLC purchased a new stake in shares of Summit Hotel Properties in the fourth quarter valued at $183,000. Xact Kapitalforvaltning AB purchased a new stake in shares of Summit Hotel Properties in the fourth quarter valued at $200,000. Envestnet Asset Management Inc. grew its position in shares of Summit Hotel Properties by 22.6% in the fourth quarter. Envestnet Asset Management Inc. now owns 43,973 shares of the real estate investment trust’s stock valued at $669,000 after purchasing an additional 8,112 shares during the period. MetLife Investment Advisors LLC purchased a new stake in shares of Summit Hotel Properties in the fourth quarter valued at $733,000. Finally, Westwood Holdings Group Inc. grew its position in shares of Summit Hotel Properties by 8.2% in the fourth quarter. Westwood Holdings Group Inc. now owns 1,747,576 shares of the real estate investment trust’s stock valued at $26,616,000 after purchasing an additional 132,435 shares during the period. 98.76% of the stock is owned by institutional investors and hedge funds.

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Summit Hotel Properties Company Profile

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 February 21, 2018, the Company's portfolio consisted of 83 hotels with a total of 12,242 guestrooms located in 26 states.

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