Zacks: Brokerages Expect Chesapeake Lodging Trust (NYSE:CHSP) Will Post Quarterly Sales of $160.47 Million

Wall Street brokerages forecast that Chesapeake Lodging Trust (NYSE:CHSP) will report $160.47 million in sales for the current quarter, Zacks reports. Seven analysts have issued estimates for Chesapeake Lodging Trust’s earnings, with the highest sales estimate coming in at $163.98 million and the lowest estimate coming in at $157.97 million. Chesapeake Lodging Trust posted sales of $156.35 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 2.6%. The company is expected to report its next earnings results on Thursday, November 7th.

On average, analysts expect that Chesapeake Lodging Trust will report full year sales of $604.65 million for the current year, with estimates ranging from $587.11 million to $617.80 million. For the next fiscal year, analysts forecast that the company will post sales of $615.84 million, with estimates ranging from $578.35 million to $627.37 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that cover Chesapeake Lodging Trust.

CHSP has been the subject of several research reports. Deutsche Bank set a $27.00 target price on shares of Chesapeake Lodging Trust and gave the company a “hold” rating in a report on Friday, August 2nd. Zacks Investment Research upgraded shares of Chesapeake Lodging Trust from a “sell” rating to a “hold” rating in a report on Tuesday. Wells Fargo & Co reiterated a “hold” rating and issued a $27.00 target price on shares of Chesapeake Lodging Trust in a report on Friday, August 9th. Finally, Robert W. Baird downgraded shares of Chesapeake Lodging Trust from an “outperform” rating to a “neutral” rating and set a $31.00 target price for the company. in a report on Wednesday, May 8th. Five investment analysts have rated the stock with a hold rating, The company has an average rating of “Hold” and an average target price of $29.75.



Chesapeake Lodging Trust stock traded up $0.29 during trading on Friday, hitting $26.04. The company had a trading volume of 188,258 shares, compared to its average volume of 352,799. Chesapeake Lodging Trust has a 1-year low of $23.68 and a 1-year high of $33.81. The company has a current ratio of 1.60, a quick ratio of 1.60 and a debt-to-equity ratio of 0.79. The company’s 50 day simple moving average is $27.55 and its 200-day simple moving average is $28.66. The stock has a market cap of $1.59 billion, a price-to-earnings ratio of 11.13, a price-to-earnings-growth ratio of 2.16 and a beta of 0.97.

A number of institutional investors have recently bought and sold shares of the stock. Jane Street Group LLC bought a new position in Chesapeake Lodging Trust in the 4th quarter valued at $221,000. Millennium Management LLC bought a new position in Chesapeake Lodging Trust in the 4th quarter valued at $525,000. Norges Bank bought a new position in Chesapeake Lodging Trust in the 4th quarter valued at $20,831,000. Geode Capital Management LLC grew its stake in Chesapeake Lodging Trust by 6.9% in the 4th quarter. Geode Capital Management LLC now owns 955,576 shares of the real estate investment trust’s stock valued at $23,268,000 after purchasing an additional 61,413 shares during the period. Finally, American Century Companies Inc. grew its stake in Chesapeake Lodging Trust by 0.4% in the 4th quarter. American Century Companies Inc. now owns 260,404 shares of the real estate investment trust’s stock valued at $6,341,000 after purchasing an additional 1,045 shares during the period. Hedge funds and other institutional investors own 96.63% of the company’s stock.

About Chesapeake Lodging Trust

Chesapeake Lodging Trust is a self-advised lodging real estate investment trust (REIT) focused on investments primarily in upper-upscale hotels in major business and convention markets and, on a selective basis, premium select-service hotels in urban settings or unique locations in the United States.

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Earnings History and Estimates for Chesapeake Lodging Trust (NYSE:CHSP)

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