DiamondRock Hospitality (NYSE:DRH) Expected to Post Quarterly Sales of $236.84 Million

Equities analysts expect DiamondRock Hospitality (NYSE:DRH) to announce $236.84 million in sales for the current quarter, Zacks Investment Research reports. Six analysts have issued estimates for DiamondRock Hospitality’s earnings. The lowest sales estimate is $225.08 million and the highest is $244.52 million. DiamondRock Hospitality reported sales of $220.82 million in the same quarter last year, which indicates a positive year-over-year growth rate of 7.3%. The firm is scheduled to announce its next quarterly earnings report on Monday, November 4th.

According to Zacks, analysts expect that DiamondRock Hospitality will report full year sales of $932.52 million for the current fiscal year, with estimates ranging from $911.56 million to $945.83 million. For the next year, analysts forecast that the company will report sales of $971.66 million, with estimates ranging from $916.65 million to $1.01 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that that provide coverage for DiamondRock Hospitality.

DiamondRock Hospitality (NYSE:DRH) last released its earnings results on Monday, August 5th. The real estate investment trust reported $0.32 EPS for the quarter, topping analysts’ consensus estimates of $0.31 by $0.01. DiamondRock Hospitality had a net margin of 10.32% and a return on equity of 5.00%. The firm had revenue of $257.92 million during the quarter, compared to analyst estimates of $253.67 million. During the same quarter in the previous year, the business earned $0.32 EPS. The business’s quarterly revenue was up 8.4% compared to the same quarter last year.

A number of analysts have commented on the stock. ValuEngine raised shares of DiamondRock Hospitality from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. Zacks Investment Research lowered shares of DiamondRock Hospitality from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 18th. Wells Fargo & Co reaffirmed a “market perform” rating and set a $9.50 target price on shares of DiamondRock Hospitality in a report on Monday, August 19th. TheStreet lowered shares of DiamondRock Hospitality from a “b-” rating to a “c+” rating in a report on Thursday, August 1st. Finally, Barclays reaffirmed a “hold” rating and set a $10.00 target price on shares of DiamondRock Hospitality in a report on Tuesday, August 13th. Three research analysts have rated the stock with a sell rating and six have assigned a hold rating to the stock. DiamondRock Hospitality presently has an average rating of “Hold” and a consensus target price of $9.64.

Hedge funds have recently made changes to their positions in the company. Quantamental Technologies LLC acquired a new position in shares of DiamondRock Hospitality in the 2nd quarter valued at $54,000. First Trust Advisors LP grew its holdings in shares of DiamondRock Hospitality by 172.9% in the 1st quarter. First Trust Advisors LP now owns 482,130 shares of the real estate investment trust’s stock valued at $5,221,000 after buying an additional 305,470 shares during the period. Redpoint Investment Management Pty Ltd grew its holdings in shares of DiamondRock Hospitality by 17.8% in the 2nd quarter. Redpoint Investment Management Pty Ltd now owns 17,784 shares of the real estate investment trust’s stock valued at $184,000 after buying an additional 2,684 shares during the period. JPMorgan Chase & Co. grew its holdings in shares of DiamondRock Hospitality by 1.0% in the 2nd quarter. JPMorgan Chase & Co. now owns 3,668,436 shares of the real estate investment trust’s stock valued at $38,005,000 after buying an additional 36,085 shares during the period. Finally, Oregon Public Employees Retirement Fund grew its holdings in shares of DiamondRock Hospitality by 1.7% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 81,927 shares of the real estate investment trust’s stock valued at $847,000 after buying an additional 1,400 shares during the period.

DRH traded up $0.09 during trading on Wednesday, reaching $9.97. 2,557,534 shares of the company’s stock were exchanged, compared to its average volume of 2,368,733. The company’s fifty day moving average price is $9.83 and its 200-day moving average price is $10.23. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.49 and a current ratio of 1.49. DiamondRock Hospitality has a fifty-two week low of $8.69 and a fifty-two week high of $11.45. The firm has a market capitalization of $1.99 billion, a PE ratio of 9.77, a P/E/G ratio of 1.93 and a beta of 1.38.

The company also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Monday, September 30th will be issued a $0.125 dividend. This represents a $0.50 annualized dividend and a dividend yield of 5.02%. The ex-dividend date is Friday, September 27th. DiamondRock Hospitality’s dividend payout ratio (DPR) is 49.02%.

About DiamondRock Hospitality

DiamondRock Hospitality Company is a self-advised real estate investment trust (REIT) that is an owner of a leading portfolio of geographically diversified hotels concentrated in top gateway markets and destination resort locations. The Company owns 31 premium quality hotels with over 10,000 rooms. The Company has strategically positioned its hotels to be operated both under leading global brand families such as Hilton and Marriott as well as unique boutique hotels in the lifestyle segment.

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Earnings History and Estimates for DiamondRock Hospitality (NYSE:DRH)

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