$0.26 EPS Expected for DiamondRock Hospitality (NYSE:DRH) This Quarter

Brokerages expect that DiamondRock Hospitality (NYSE:DRH) will post earnings of $0.26 per share for the current quarter, Zacks Investment Research reports. Six analysts have made estimates for DiamondRock Hospitality’s earnings, with estimates ranging from $0.25 to $0.27. DiamondRock Hospitality reported earnings per share of $0.27 during the same quarter last year, which suggests a negative year over year growth rate of 3.7%. The company is scheduled to announce its next quarterly earnings report before the market opens on Friday, November 8th.

According to Zacks, analysts expect that DiamondRock Hospitality will report full year earnings of $1.02 per share for the current financial year, with EPS estimates ranging from $0.95 to $1.05. For the next year, analysts anticipate that the business will post earnings of $1.01 per share, with EPS estimates ranging from $0.97 to $1.08. Zacks’ EPS averages are a mean average based on a survey of sell-side research firms that that provide coverage for DiamondRock Hospitality.

DiamondRock Hospitality (NYSE:DRH) last issued 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. The company had revenue of $257.92 million for the quarter, compared to analysts’ expectations of $253.67 million. DiamondRock Hospitality had a net margin of 10.32% and a return on equity of 5.00%. The firm’s revenue was up 8.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.32 EPS.

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

Hedge funds have recently added to or reduced their stakes in the business. Quantamental Technologies LLC purchased a new position in shares of DiamondRock Hospitality in the second quarter valued at about $54,000. Redpoint Investment Management Pty Ltd increased its position in shares of DiamondRock Hospitality by 17.8% in the second quarter. Redpoint Investment Management Pty Ltd now owns 17,784 shares of the real estate investment trust’s stock valued at $184,000 after acquiring an additional 2,684 shares during the period. JPMorgan Chase & Co. increased its position in shares of DiamondRock Hospitality by 1.0% in the second quarter. JPMorgan Chase & Co. now owns 3,668,436 shares of the real estate investment trust’s stock valued at $38,005,000 after acquiring an additional 36,085 shares during the period. Oregon Public Employees Retirement Fund increased its position in shares of 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 acquiring an additional 1,400 shares during the period. Finally, Prudential PLC purchased a new position in shares of DiamondRock Hospitality in the second quarter valued at about $5,810,000.

Shares of NYSE:DRH opened at $10.10 on Wednesday. The stock has a market cap of $1.98 billion, a PE ratio of 9.90, a PEG ratio of 1.93 and a beta of 1.38. The company’s fifty day moving average is $9.99 and its 200 day moving average is $10.16. DiamondRock Hospitality has a 52 week low of $8.69 and a 52 week high of $11.22. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 0.65.

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Monday, September 30th were given a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 4.95%. The ex-dividend date was Friday, September 27th. DiamondRock Hospitality’s payout ratio 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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