CorePoint Lodging (NYSE:CPLG) Hits New 52-Week Low Following Weak Earnings

CorePoint Lodging Inc (NYSE:CPLG)’s stock price hit a new 52-week low during trading on Wednesday following a weaker than expected earnings announcement. The company traded as low as $7.09 and last traded at $7.75, with a volume of 18939 shares traded. The stock had previously closed at $10.90.

The company reported ($0.32) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.67). The business had revenue of $219.00 million for the quarter, compared to analysts’ expectations of $226.19 million. CorePoint Lodging had a negative return on equity of 7.22% and a negative net margin of 31.35%.

CPLG has been the subject of a number of analyst reports. ValuEngine raised CorePoint Lodging from a “sell” rating to a “hold” rating in a research note on Thursday, August 1st. Zacks Investment Research raised CorePoint Lodging from a “sell” rating to a “hold” rating in a research note on Tuesday, July 16th. Finally, JPMorgan Chase & Co. downgraded 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 note on Tuesday, July 9th.



Several hedge funds have recently modified their holdings of the company. BlackRock Inc. raised its stake in shares of CorePoint Lodging by 7.2% during the 2nd quarter. BlackRock Inc. now owns 3,317,238 shares of the company’s stock worth $41,100,000 after buying an additional 221,841 shares in the last quarter. Donald Smith & CO. Inc. acquired a new stake in shares of CorePoint Lodging in the 1st quarter worth approximately $33,510,000. Charles Schwab Investment Management Inc. grew its holdings in shares of CorePoint Lodging by 11.4% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 771,262 shares of the company’s stock worth $9,556,000 after acquiring an additional 78,980 shares during the period. MERIAN GLOBAL INVESTORS UK Ltd grew its holdings in shares of CorePoint Lodging by 22.7% in the 1st quarter. MERIAN GLOBAL INVESTORS UK Ltd now owns 747,594 shares of the company’s stock worth $8,350,000 after acquiring an additional 138,083 shares during the period. Finally, Northern Trust Corp grew its holdings in shares of CorePoint Lodging by 2.6% in the 2nd quarter. Northern Trust Corp now owns 560,409 shares of the company’s stock worth $6,943,000 after acquiring an additional 14,112 shares during the period. 93.05% of the stock is owned by institutional investors and hedge funds.

The stock has a market cap of $635.06 million, a price-to-earnings ratio of 3.78 and a beta of 0.84. The firm has a fifty day moving average of $11.99.

About CorePoint Lodging (NYSE:CPLG)

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.

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