Brokerages Anticipate DiamondRock Hospitality (DRH) to Post $0.32 Earnings Per Share

Equities analysts predict that DiamondRock Hospitality (NYSE:DRH) will report $0.32 earnings per share (EPS) for the current fiscal quarter, according to Zacks Investment Research. Seven analysts have issued estimates for DiamondRock Hospitality’s earnings, with the lowest EPS estimate coming in at $0.30 and the highest estimate coming in at $0.33. DiamondRock Hospitality also posted earnings of $0.32 per share during the same quarter last year. The firm is scheduled to report its next earnings report on Thursday, August 1st.

On average, analysts expect that DiamondRock Hospitality will report full year earnings of $1.03 per share for the current financial year, with EPS estimates ranging from $1.00 to $1.07. For the next financial year, analysts forecast that the company will post earnings of $1.04 per share, with EPS estimates ranging from $0.98 to $1.13. Zacks’ EPS calculations are an average based on a survey of sell-side research firms that cover DiamondRock Hospitality.

DiamondRock Hospitality (NYSE:DRH) last released its earnings results on Wednesday, May 8th. The real estate investment trust reported $0.04 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.18 by ($0.14). The firm had revenue of $202.38 million during the quarter, compared to analysts’ expectations of $194.62 million. DiamondRock Hospitality had a net margin of 10.44% and a return on equity of 4.90%. DiamondRock Hospitality’s revenue for the quarter was up 11.5% on a year-over-year basis. During the same quarter last year, the company posted $0.17 earnings per share.

A number of research analysts have issued reports on the stock. TheStreet upgraded shares of DiamondRock Hospitality from a “c+” rating to a “b-” rating in a report on Friday, February 15th. Zacks Investment Research upgraded shares of DiamondRock Hospitality from a “sell” rating to a “hold” rating in a report on Monday, May 6th. Deutsche Bank restated a “hold” rating and issued a $12.00 target price on shares of DiamondRock Hospitality in a report on Thursday, February 28th. Wells Fargo & Co restated a “sell” rating on shares of DiamondRock Hospitality in a report on Wednesday, March 6th. Finally, ValuEngine upgraded shares of DiamondRock Hospitality from a “sell” rating to a “hold” rating in a report on Monday, February 4th. Four research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $10.58.

Several institutional investors and hedge funds have recently added to or reduced their stakes in DRH. Bank of New York Mellon Corp boosted its position in shares of DiamondRock Hospitality by 3.9% in the third quarter. Bank of New York Mellon Corp now owns 3,215,605 shares of the real estate investment trust’s stock worth $37,526,000 after acquiring an additional 120,150 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of DiamondRock Hospitality by 5.9% in the third quarter. JPMorgan Chase & Co. now owns 3,997,125 shares of the real estate investment trust’s stock worth $46,647,000 after acquiring an additional 222,009 shares during the last quarter. Morgan Stanley boosted its position in shares of DiamondRock Hospitality by 24.9% in the third quarter. Morgan Stanley now owns 1,191,065 shares of the real estate investment trust’s stock worth $13,900,000 after acquiring an additional 237,286 shares during the last quarter. Vanguard Group Inc raised its holdings in DiamondRock Hospitality by 2.3% in the third quarter. Vanguard Group Inc now owns 31,517,952 shares of the real estate investment trust’s stock valued at $367,814,000 after buying an additional 703,803 shares during the period. Finally, State of Alaska Department of Revenue raised its holdings in DiamondRock Hospitality by 1.1% in the fourth quarter. State of Alaska Department of Revenue now owns 137,064 shares of the real estate investment trust’s stock valued at $1,243,000 after buying an additional 1,518 shares during the period.

NYSE:DRH traded up $0.12 on Thursday, reaching $10.71. The stock had a trading volume of 72,675 shares, compared to its average volume of 2,525,720. The firm has a market cap of $2.15 billion, a price-to-earnings ratio of 10.50, a price-to-earnings-growth ratio of 2.07 and a beta of 1.43. The company has a current ratio of 1.54, a quick ratio of 1.54 and a debt-to-equity ratio of 0.62. DiamondRock Hospitality has a 12-month low of $8.69 and a 12-month high of $12.99.

DiamondRock Hospitality Company Profile

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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