Analysts Expect DiamondRock Hospitality (DRH) Will Announce Earnings of $0.26 Per Share

Equities research analysts expect that DiamondRock Hospitality (NYSE:DRH) will post earnings per share of $0.26 for the current quarter, Zacks Investment Research reports. Seven analysts have issued estimates for DiamondRock Hospitality’s earnings, with estimates ranging from $0.25 to $0.29. DiamondRock Hospitality posted earnings of $0.25 per share during the same quarter last year, which would suggest a positive year-over-year growth rate of 4%. The company is expected to report its next quarterly earnings results on Monday, November 5th.

According to Zacks, analysts expect that DiamondRock Hospitality will report full-year earnings of $1.02 per share for the current year, with EPS estimates ranging from $0.97 to $1.06. For the next financial year, analysts anticipate that the company will report earnings of $1.02 per share, with EPS estimates ranging from $0.99 to $1.10. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research analysts that cover DiamondRock Hospitality.

DiamondRock Hospitality (NYSE:DRH) last issued its earnings results on Thursday, August 2nd. The real estate investment trust reported $0.14 EPS for the quarter, missing the Zacks’ consensus estimate of $0.32 by ($0.18). The business had revenue of $236.70 million during the quarter, compared to analyst estimates of $241.52 million. DiamondRock Hospitality had a net margin of 9.26% and a return on equity of 4.26%. DiamondRock Hospitality’s quarterly revenue was up 2.1% on a year-over-year basis. During the same quarter last year, the company earned $0.32 earnings per share.

DRH has been the subject of several recent analyst reports. TheStreet upgraded shares of DiamondRock Hospitality from a “c+” rating to a “b-” rating in a research report on Tuesday, June 5th. Zacks Investment Research upgraded shares of DiamondRock Hospitality from a “hold” rating to a “buy” rating and set a $14.00 price objective for the company in a research report on Tuesday, July 10th. ValuEngine upgraded shares of DiamondRock Hospitality from a “hold” rating to a “buy” rating in a research report on Tuesday, May 29th. Stifel Nicolaus raised their price objective on shares of DiamondRock Hospitality from $12.00 to $13.25 and gave the stock a “buy” rating in a research report on Friday, May 25th. Finally, Citigroup raised their price objective on shares of DiamondRock Hospitality from $11.00 to $12.00 and gave the stock a “neutral” rating in a research report on Wednesday. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $12.32.

Shares of DiamondRock Hospitality traded up $0.06, reaching $11.58, during mid-day trading on Friday, according to Marketbeat.com. The company’s stock had a trading volume of 1,833,441 shares, compared to its average volume of 1,892,366. The stock has a market capitalization of $2.39 billion, a price-to-earnings ratio of 11.58, a price-to-earnings-growth ratio of 2.26 and a beta of 1.39. The company has a quick ratio of 1.43, a current ratio of 2.43 and a debt-to-equity ratio of 0.49. DiamondRock Hospitality has a 1-year low of $9.87 and a 1-year high of $12.99.

In other DiamondRock Hospitality news, insider Briony R. Quinn sold 10,000 shares of the stock in a transaction dated Thursday, May 24th. The shares were sold at an average price of $12.58, for a total transaction of $125,800.00. Following the completion of the transaction, the insider now owns 83,172 shares of the company’s stock, valued at $1,046,303.76. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP William J. Tennis sold 30,000 shares of the stock in a transaction dated Wednesday, May 30th. The stock was sold at an average price of $12.79, for a total transaction of $383,700.00. Following the transaction, the executive vice president now directly owns 252,363 shares of the company’s stock, valued at approximately $3,227,722.77. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by company insiders.

A number of hedge funds have recently made changes to their positions in DRH. Cbre Clarion Securities LLC boosted its stake in DiamondRock Hospitality by 2,004.3% during the second quarter. Cbre Clarion Securities LLC now owns 6,298,144 shares of the real estate investment trust’s stock worth $77,341,000 after buying an additional 5,998,844 shares during the period. Prudential Financial Inc. boosted its stake in DiamondRock Hospitality by 38.0% during the first quarter. Prudential Financial Inc. now owns 7,952,866 shares of the real estate investment trust’s stock worth $83,028,000 after buying an additional 2,189,890 shares during the period. Citadel Advisors LLC boosted its stake in DiamondRock Hospitality by 614.2% during the second quarter. Citadel Advisors LLC now owns 2,190,052 shares of the real estate investment trust’s stock worth $26,894,000 after buying an additional 1,883,415 shares during the period. LSV Asset Management boosted its stake in DiamondRock Hospitality by 80.6% during the second quarter. LSV Asset Management now owns 4,115,221 shares of the real estate investment trust’s stock worth $50,534,000 after buying an additional 1,836,221 shares during the period. Finally, Ceredex Value Advisors LLC purchased a new position in DiamondRock Hospitality during the first quarter worth about $16,079,000.

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 30 premium quality hotels with over 9,900 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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