Brokerages Expect Diamondrock Hospitality Company (DRH) Will Post Quarterly Sales of $206.64 Million

Brokerages predict that Diamondrock Hospitality Company (NYSE:DRH) will post sales of $206.64 million for the current quarter, Zacks reports. Eight analysts have provided estimates for Diamondrock Hospitality’s earnings, with the highest sales estimate coming in at $217.30 million and the lowest estimate coming in at $193.77 million. Diamondrock Hospitality posted sales of $206.62 million during the same quarter last year, which suggests a positive year over year growth rate of 0%. The business is scheduled to issue its next quarterly earnings results on Wednesday, February 28th.

According to Zacks, analysts expect that Diamondrock Hospitality will report full-year sales of $206.64 million for the current year, with estimates ranging from $856.74 million to $882.70 million. For the next year, analysts forecast that the firm will post sales of $873.38 million per share, with estimates ranging from $828.90 million to $910.71 million. Zacks’ sales calculations are an average based on a survey of research analysts that that provide coverage for Diamondrock Hospitality.

Diamondrock Hospitality (NYSE:DRH) last announced its quarterly earnings results on Monday, November 6th. The real estate investment trust reported $0.25 EPS for the quarter, meeting the consensus estimate of $0.25. The firm had revenue of $223.50 million for the quarter, compared to analyst estimates of $223.30 million. Diamondrock Hospitality had a return on equity of 4.97% and a net margin of 10.47%. The business’s revenue for the quarter was up 1.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.26 earnings per share.

DRH has been the topic of several research reports. Robert W. Baird set a $12.00 price target on Diamondrock Hospitality and gave the company a “buy” rating in a research note on Sunday, September 10th. Stifel Nicolaus restated a “buy” rating and set a $12.00 price target on shares of Diamondrock Hospitality in a research note on Thursday, September 21st. KeyCorp restated a “hold” rating on shares of Diamondrock Hospitality in a research note on Sunday, September 24th. Zacks Investment Research upgraded Diamondrock Hospitality from a “hold” rating to a “buy” rating and set a $12.00 price target on the stock in a research note on Wednesday, October 11th. Finally, Boenning Scattergood set a $10.00 price target on Diamondrock Hospitality and gave the company a “sell” rating in a research note on Thursday, October 26th. One analyst has rated the stock with a sell rating, four have given a hold rating and eight have issued a buy rating to the stock. Diamondrock Hospitality presently has an average rating of “Buy” and an average target price of $12.00.

Shares of Diamondrock Hospitality (NYSE:DRH) traded down $0.21 during trading on Friday, hitting $11.49. The stock had a trading volume of 1,673,300 shares, compared to its average volume of 2,255,474. The stock has a market capitalization of $2,343.57, a price-to-earnings ratio of 11.82, a P/E/G ratio of 2.41 and a beta of 1.33. The company has a debt-to-equity ratio of 0.51, a quick ratio of 2.41 and a current ratio of 2.41. Diamondrock Hospitality has a 1 year low of $10.43 and a 1 year high of $12.07.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 12th. Investors of record on Friday, December 29th will be given a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 4.35%. The ex-dividend date is Thursday, December 28th. Diamondrock Hospitality’s payout ratio is currently 111.11%.

Hedge funds have recently modified their holdings of the stock. HRT Financial LLC acquired a new stake in Diamondrock Hospitality in the second quarter worth about $142,000. World Asset Management Inc boosted its holdings in Diamondrock Hospitality by 2.2% in the second quarter. World Asset Management Inc now owns 13,047 shares of the real estate investment trust’s stock worth $143,000 after acquiring an additional 282 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Diamondrock Hospitality by 15.2% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,787 shares of the real estate investment trust’s stock worth $173,000 after acquiring an additional 2,081 shares in the last quarter. GSA Capital Partners LLP boosted its holdings in Diamondrock Hospitality by 6.0% in the second quarter. GSA Capital Partners LLP now owns 16,442 shares of the real estate investment trust’s stock worth $180,000 after acquiring an additional 930 shares in the last quarter. Finally, GAM Holding AG boosted its holdings in Diamondrock Hospitality by 5.3% in the second quarter. GAM Holding AG now owns 17,012 shares of the real estate investment trust’s stock worth $186,000 after acquiring an additional 862 shares in the last quarter.

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About Diamondrock Hospitality

DiamondRock Hospitality Company is a real estate investment trust (REIT). As of December 31, 2016, the Company owned a portfolio of 26 hotels and resorts that contains 9,472 guest rooms located in 17 different markets in North America and the United States Virgin Islands. Its business is to acquire, own, asset manage and renovate hotel properties in the United States.

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Earnings History and Estimates for Diamondrock Hospitality (NYSE:DRH)

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