DiamondRock Hospitality (DRH) Posts Earnings Results, Misses Expectations By $0.14 EPS

DiamondRock Hospitality (NYSE:DRH) posted its quarterly earnings results on Wednesday, May 8th. The real estate investment trust reported $0.04 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.18 by ($0.14), Fidelity Earnings reports. The business had revenue of $202.38 million during the quarter, compared to the consensus estimate of $194.62 million. DiamondRock Hospitality had a return on equity of 4.90% and a net margin of 10.44%. The company’s revenue for the quarter was up 11.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.17 earnings per share. DiamondRock Hospitality updated its FY19 guidance to $1.00 to $1.04 EPS.

DRH stock opened at $9.91 on Friday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.54 and a current ratio of 1.54. DiamondRock Hospitality has a twelve month low of $8.69 and a twelve month high of $12.99. The firm has a market capitalization of $2.06 billion, a price-to-earnings ratio of 9.72, a price-to-earnings-growth ratio of 1.98 and a beta of 1.43.

A number of hedge funds have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp increased its stake in shares of DiamondRock Hospitality by 3.9% during the third quarter. Bank of New York Mellon Corp now owns 3,215,605 shares of the real estate investment trust’s stock valued at $37,526,000 after buying an additional 120,150 shares during the period. Standard Life Aberdeen plc increased its stake in shares of DiamondRock Hospitality by 48.4% during the third quarter. Standard Life Aberdeen plc now owns 833,349 shares of the real estate investment trust’s stock valued at $9,721,000 after buying an additional 271,629 shares during the period. JPMorgan Chase & Co. increased its stake in shares of DiamondRock Hospitality by 5.9% during the third quarter. JPMorgan Chase & Co. now owns 3,997,125 shares of the real estate investment trust’s stock valued at $46,647,000 after buying an additional 222,009 shares during the period. Macquarie Group Ltd. increased its stake in shares of DiamondRock Hospitality by 168.4% during the third quarter. Macquarie Group Ltd. now owns 112,200 shares of the real estate investment trust’s stock valued at $1,309,000 after buying an additional 70,400 shares during the period. Finally, Morgan Stanley increased its stake in shares of DiamondRock Hospitality by 24.9% during the third quarter. Morgan Stanley now owns 1,191,065 shares of the real estate investment trust’s stock valued at $13,900,000 after buying an additional 237,286 shares during the period.

A number of research firms have recently commented on DRH. Zacks Investment Research downgraded DiamondRock Hospitality from a “buy” rating to a “hold” rating in a research report on Wednesday, April 3rd. Wells Fargo & Co restated a “sell” rating on shares of DiamondRock Hospitality in a report on Wednesday, March 6th. TheStreet upgraded DiamondRock Hospitality from a “c+” rating to a “b-” rating in a report on Friday, February 15th. Deutsche Bank restated a “hold” rating and set a $12.00 price target on shares of DiamondRock Hospitality in a report on Thursday, February 28th. Finally, ValuEngine upgraded DiamondRock Hospitality from a “sell” rating to a “hold” rating in a report on Monday, February 4th. Four investment analysts have rated the stock with a sell rating and six have given a hold rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $10.25.

WARNING: This story was originally posted by Rockland Register and is the property of of Rockland Register. If you are viewing this story on another domain, it was illegally stolen and republished in violation of United States and international trademark & copyright law. The correct version of this story can be viewed at https://rocklandregister.com/2019/06/01/diamondrock-hospitality-drh-issues-earnings-results-misses-estimates-by-0-14-eps.html.

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.

Featured Article: What does a market perform rating mean?

Earnings History for DiamondRock Hospitality (NYSE:DRH)

Receive News & Ratings for DiamondRock Hospitality Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for DiamondRock Hospitality and related companies with MarketBeat.com's FREE daily email newsletter.