Zacks: Analysts Expect DiamondRock Hospitality (NYSE:DRH) to Post $0.26 Earnings Per Share

Wall Street brokerages expect DiamondRock Hospitality (NYSE:DRH) to post $0.26 earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Six analysts have issued estimates for DiamondRock Hospitality’s earnings. The lowest EPS estimate is $0.25 and the highest is $0.27. DiamondRock Hospitality posted earnings per share of $0.27 in the same quarter last year, which would indicate a negative year-over-year growth rate of 3.7%. The company is scheduled to announce its next earnings results on Monday, November 4th.

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 $1.01 to $1.05. For the next fiscal year, analysts anticipate that the company will post earnings of $1.01 per share, with EPS estimates ranging from $0.97 to $1.08. Zacks Investment Research’s 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 quarterly earnings results on Monday, August 5th. The real estate investment trust reported $0.32 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.31 by $0.01. DiamondRock Hospitality had a net margin of 10.32% and a return on equity of 5.00%. The company had revenue of $257.92 million for the quarter, compared to analysts’ expectations of $253.67 million. During the same period last year, the company earned $0.32 EPS. The firm’s revenue for the quarter was up 8.4% compared to the same quarter last year.

Several equities research analysts have issued reports on the stock. Wells Fargo & Co reaffirmed a “market perform” rating and set a $9.50 price target on shares of DiamondRock Hospitality in a research note on Monday. TheStreet cut shares of DiamondRock Hospitality from a “b-” rating to a “c+” rating in a research note on Thursday, August 1st. ValuEngine cut shares of DiamondRock Hospitality from a “hold” rating to a “sell” rating in a research note on Tuesday, July 2nd. Zacks Investment Research cut shares of DiamondRock Hospitality from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 18th. Finally, Barclays reissued a “hold” rating and issued a $10.00 target price on shares of DiamondRock Hospitality in a research report on Tuesday, August 13th. Four research analysts have rated the stock with a sell rating and five have given a hold rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $9.64.

In related news, Director Maureen L. Mcavey sold 8,000 shares of the firm’s stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of $10.36, for a total value of $82,880.00. Following the sale, the director now directly owns 91,688 shares of the company’s stock, valued at $949,887.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.90% of the stock is currently owned by company insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in DRH. Pzena Investment Management LLC raised its holdings in DiamondRock Hospitality by 7.9% in the first quarter. Pzena Investment Management LLC now owns 1,277,729 shares of the real estate investment trust’s stock valued at $13,838,000 after buying an additional 93,148 shares during the period. First Trust Advisors LP raised its holdings in DiamondRock Hospitality by 172.9% in the first 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. Oregon Public Employees Retirement Fund raised its holdings in DiamondRock Hospitality by 1.7% in the second 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. Norges Bank purchased a new position in DiamondRock Hospitality in the fourth quarter valued at approximately $23,362,000. Finally, Millennium Management LLC purchased a new position in DiamondRock Hospitality in the fourth quarter valued at approximately $3,102,000.

Shares of DiamondRock Hospitality stock traded down $0.01 during mid-day trading on Thursday, hitting $9.44. 213,971 shares of the stock were exchanged, compared to its average volume of 1,619,035. DiamondRock Hospitality has a twelve month low of $8.69 and a twelve month high of $12.08. The stock has a market capitalization of $1.90 billion, a price-to-earnings ratio of 9.25, a price-to-earnings-growth ratio of 1.84 and a beta of 1.38. The company has a 50-day simple moving average of $9.86 and a 200 day simple moving average of $10.41. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.65.

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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