Analysts Expect DiamondRock Hospitality (DRH) Will Post Quarterly Sales of $252.82 Million

Wall Street brokerages expect that DiamondRock Hospitality (NYSE:DRH) will post $252.82 million in sales for the current quarter, according to Zacks. Seven analysts have made estimates for DiamondRock Hospitality’s earnings. The lowest sales estimate is $240.71 million and the highest is $274.99 million. DiamondRock Hospitality reported sales of $237.95 million during the same quarter last year, which indicates a positive year over year growth rate of 6.2%. The firm is scheduled to issue its next quarterly earnings results on Thursday, August 1st.

According to Zacks, analysts expect that DiamondRock Hospitality will report full year sales of $924.20 million for the current financial year, with estimates ranging from $871.93 million to $967.74 million. For the next fiscal year, analysts expect that the firm will report sales of $959.64 million, with estimates ranging from $889.66 million to $1.01 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that cover DiamondRock Hospitality.

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

DRH has been the subject of a number of research reports. KeyCorp downgraded DiamondRock Hospitality from a “sector weight” rating to an “underweight” rating and set a $8.00 target price for the company. in a research note on Friday, January 25th. Zacks Investment Research downgraded DiamondRock Hospitality from a “buy” rating to a “hold” rating in a research note on Tuesday, January 29th. ValuEngine upgraded DiamondRock Hospitality from a “sell” rating to a “hold” rating in a research note on Monday, February 4th. TheStreet upgraded DiamondRock Hospitality from a “c+” rating to a “b-” rating in a research note on Friday, February 15th. Finally, Deutsche Bank restated a “hold” rating and issued a $12.00 target price on shares of DiamondRock Hospitality in a research note on Thursday, February 28th. Four investment analysts have rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $10.58.

Hedge funds and other institutional investors have recently modified their holdings of the company. Bank of New York Mellon Corp raised its position 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 last quarter. JPMorgan Chase & Co. raised its holdings in 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 worth $46,647,000 after buying an additional 222,009 shares during the last quarter. Morgan Stanley raised its holdings in 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 worth $13,900,000 after buying an additional 237,286 shares during the last quarter. Vanguard Group Inc raised its holdings in DiamondRock Hospitality by 2.3% during the third quarter. Vanguard Group Inc now owns 31,517,952 shares of the real estate investment trust’s stock worth $367,814,000 after buying an additional 703,803 shares during the last quarter. Finally, State of Alaska Department of Revenue raised its holdings in DiamondRock Hospitality by 1.1% during the fourth quarter. State of Alaska Department of Revenue now owns 137,064 shares of the real estate investment trust’s stock worth $1,243,000 after buying an additional 1,518 shares during the last quarter.

DRH stock traded down $0.16 during midday trading on Friday, reaching $10.51. The company had a trading volume of 132,887 shares, compared to its average volume of 2,108,404. The company has a quick ratio of 1.54, a current ratio of 1.54 and a debt-to-equity ratio of 0.62. DiamondRock Hospitality has a fifty-two week low of $8.69 and a fifty-two week high of $12.99. The company has a market cap of $2.17 billion, a P/E ratio of 10.27, a PEG ratio of 2.08 and a beta of 1.43.

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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