DiamondRock Hospitality (DRH) Expected to Announce Earnings of $0.32 Per Share

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Equities research analysts expect DiamondRock Hospitality (NYSE:DRH) to post earnings per share (EPS) of $0.32 for the current quarter, according to Zacks Investment Research. Eight analysts have provided estimates for DiamondRock Hospitality’s earnings. The lowest EPS estimate is $0.31 and the highest is $0.33. DiamondRock Hospitality also posted earnings of $0.32 per share in the same quarter last year. The business is expected to report its next quarterly earnings results on Monday, August 6th.

On average, analysts expect that DiamondRock Hospitality will report full-year earnings of $1.03 per share for the current fiscal year, with EPS estimates ranging from $0.97 to $1.04. For the next fiscal year, analysts forecast that the firm will post earnings of $1.03 per share, with EPS estimates ranging from $0.98 to $1.07. Zacks’ EPS calculations are a mean average based on a survey of sell-side research analysts that cover DiamondRock Hospitality.

DiamondRock Hospitality (NYSE:DRH) last released its quarterly earnings data on Thursday, May 3rd. The real estate investment trust reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.13). The firm had revenue of $181.50 million during the quarter, compared to analysts’ expectations of $183.37 million. DiamondRock Hospitality had a net margin of 10.21% and a return on equity of 4.77%. The firm’s quarterly revenue was down 7.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.18 EPS.

Several brokerages have recently commented on DRH. Morgan Stanley decreased their price objective on shares of DiamondRock Hospitality from $11.00 to $10.00 and set an “underweight” rating on the stock in a report on Wednesday, February 28th. ValuEngine raised shares of DiamondRock Hospitality from a “hold” rating to a “buy” rating in a research report on Tuesday, May 29th. Boenning Scattergood reissued a “hold” rating on shares of DiamondRock Hospitality in a research report on Wednesday, February 28th. Barclays increased their price objective on shares of DiamondRock Hospitality from $12.00 to $14.00 and gave the company an “overweight” rating in a research report on Friday, June 1st. Finally, TheStreet raised shares of DiamondRock Hospitality from a “c+” rating to a “b-” rating in a research report on Tuesday, June 5th. Three investment analysts have rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating to the company’s stock. DiamondRock Hospitality has a consensus rating of “Hold” and an average price target of $12.36.

In related news, Director Gilbert T. Ray sold 11,268 shares of the firm’s stock in a transaction dated Wednesday, May 9th. The shares were sold at an average price of $11.74, for a total value of $132,286.32. Following the completion of the sale, the director now owns 63,360 shares in the company, valued at $743,846.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Briony R. Quinn sold 10,000 shares of the firm’s 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 sale, the insider now owns 83,172 shares of the company’s stock, valued at approximately $1,046,303.76. The disclosure for this sale can be found here. Insiders sold 51,268 shares of company stock valued at $641,786 in the last quarter. Company insiders own 1.10% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Kempen Capital Management N.V. increased its holdings in DiamondRock Hospitality by 7.5% during the 1st quarter. Kempen Capital Management N.V. now owns 341,293 shares of the real estate investment trust’s stock valued at $3,563,000 after acquiring an additional 23,916 shares in the last quarter. Principal Financial Group Inc. increased its holdings in DiamondRock Hospitality by 3.1% during the 1st quarter. Principal Financial Group Inc. now owns 1,571,436 shares of the real estate investment trust’s stock valued at $16,406,000 after acquiring an additional 47,627 shares in the last quarter. Xact Kapitalforvaltning AB increased its holdings in DiamondRock Hospitality by 61.2% during the 1st quarter. Xact Kapitalforvaltning AB now owns 31,350 shares of the real estate investment trust’s stock valued at $327,000 after acquiring an additional 11,900 shares in the last quarter. Legal & General Group Plc increased its holdings in DiamondRock Hospitality by 6.6% during the 1st quarter. Legal & General Group Plc now owns 1,068,776 shares of the real estate investment trust’s stock valued at $11,182,000 after acquiring an additional 65,994 shares in the last quarter. Finally, Amundi Pioneer Asset Management Inc. increased its holdings in DiamondRock Hospitality by 31.8% during the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 321,864 shares of the real estate investment trust’s stock valued at $3,360,000 after acquiring an additional 77,701 shares in the last quarter.

Shares of DRH stock traded down $0.02 on Friday, reaching $12.48. 2,290,566 shares of the company were exchanged, compared to its average volume of 2,836,585. The stock has a market capitalization of $2.50 billion, a P/E ratio of 12.48, a P/E/G ratio of 2.42 and a beta of 1.40. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.52. DiamondRock Hospitality has a 1 year low of $9.87 and a 1 year high of $12.99.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 12th. Investors of record on Friday, June 29th will be paid a $0.125 dividend. This represents a $0.50 annualized dividend and a dividend yield of 4.01%. The ex-dividend date of this dividend is Thursday, June 28th. DiamondRock Hospitality’s dividend payout ratio (DPR) is 50.00%.

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. As of February 26, 2018, the Company owns 28 premium quality hotels with over 9,600 rooms.

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

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