Analysts predict that DiamondRock Hospitality (NYSE:DRH) will post sales of $184.03 million for the current quarter, Zacks reports. Seven analysts have made estimates for DiamondRock Hospitality’s earnings. The highest sales estimate is $206.13 million and the lowest is $169.93 million. DiamondRock Hospitality posted sales of $196.21 million during the same quarter last year, which suggests a negative year-over-year growth rate of 6.2%. The business is scheduled to announce its next quarterly earnings report on Friday, May 4th.
According to Zacks, analysts expect that DiamondRock Hospitality will report full year sales of $184.03 million for the current year, with estimates ranging from $828.90 million to $905.84 million. For the next year, analysts forecast that the firm will report sales of $875.90 million per share, with estimates ranging from $857.09 million to $908.02 million. Zacks Investment Research’s sales averages 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, February 26th. The real estate investment trust reported $0.25 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.23 by $0.02. DiamondRock Hospitality had a net margin of 10.56% and a return on equity of 5.02%. The firm had revenue of $207.04 million during the quarter, compared to analyst estimates of $206.36 million. During the same period last year, the business earned $0.24 earnings per share. The business’s revenue was up .2% on a year-over-year basis.
A number of equities analysts recently weighed in on the stock. TheStreet upgraded shares of DiamondRock Hospitality from a “c+” rating to a “b-” rating in a report on Friday, December 29th. Morgan Stanley decreased their price objective on shares of DiamondRock Hospitality from $11.00 to $10.00 and set an “underweight” rating for the company in a report on Wednesday, February 28th. Boenning Scattergood restated a “hold” rating on shares of DiamondRock Hospitality in a report on Wednesday, February 28th. Zacks Investment Research lowered shares of DiamondRock Hospitality from a “hold” rating to a “sell” rating in a report on Tuesday, November 14th. Finally, Evercore ISI upgraded shares of DiamondRock Hospitality from an “in-line” rating to an “outperform” rating in a report on Monday, December 4th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $11.78.
In related news, insider Mark W. Brugger bought 10,000 shares of the business’s stock in a transaction on Friday, March 2nd. The stock was acquired at an average price of $9.98 per share, with a total value of $99,800.00. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 1.10% of the company’s stock.
A number of large investors have recently bought and sold shares of the business. Crossmark Global Holdings Inc. bought a new stake in DiamondRock Hospitality in the third quarter worth about $410,000. Stevens Capital Management LP bought a new stake in DiamondRock Hospitality in the third quarter worth about $1,890,000. Pzena Investment Management LLC raised its position in DiamondRock Hospitality by 5.1% in the third quarter. Pzena Investment Management LLC now owns 1,099,717 shares of the real estate investment trust’s stock worth $12,042,000 after acquiring an additional 53,768 shares in the last quarter. BNP Paribas Arbitrage SA raised its position in DiamondRock Hospitality by 228.0% in the third quarter. BNP Paribas Arbitrage SA now owns 413,090 shares of the real estate investment trust’s stock worth $4,523,000 after acquiring an additional 287,152 shares in the last quarter. Finally, Municipal Employees Retirement System of Michigan raised its position in DiamondRock Hospitality by 50.9% in the third quarter. Municipal Employees Retirement System of Michigan now owns 82,680 shares of the real estate investment trust’s stock worth $906,000 after acquiring an additional 27,880 shares in the last quarter.
DiamondRock Hospitality (NYSE:DRH) opened at $10.69 on Monday. DiamondRock Hospitality has a 1-year low of $9.87 and a 1-year high of $12.11. The firm has a market cap of $2,143.75, a P/E ratio of 23.76, a P/E/G ratio of 2.13 and a beta of 1.42. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.35 and a quick ratio of 2.35.
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About DiamondRock Hospitality
DiamondRock Hospitality Company is a real estate investment trust (REIT). As of December 31, 2016, the Company owned a portfolio of 26 hotels and resorts that contains 9,472 guest rooms located in 17 different markets in North America and the United States Virgin Islands. Its business is to acquire, own, asset manage and renovate hotel properties in the United States.
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