Summit Hotel Properties (NYSE:INN) issued an update on its fourth quarter earnings guidance on Tuesday morning. The company provided earnings per share guidance of $0.26-0.29 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.28.
Shares of INN traded down $0.02 during trading hours on Tuesday, hitting $11.54. 785,100 shares of the company were exchanged, compared to its average volume of 648,153. The company has a market cap of $1.19 billion, a PE ratio of 8.61, a price-to-earnings-growth ratio of 5.19 and a beta of 1.21. Summit Hotel Properties has a 52 week low of $10.91 and a 52 week high of $16.29. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.51 and a current ratio of 1.51.
Summit Hotel Properties (NYSE:INN) last released its quarterly earnings results on Wednesday, August 1st. The real estate investment trust reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.03. The company had revenue of $152.20 million during the quarter, compared to the consensus estimate of $151.13 million. Summit Hotel Properties had a return on equity of 6.53% and a net margin of 14.16%. The firm’s revenue was up 17.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.36 EPS. On average, research analysts predict that Summit Hotel Properties will post 1.28 earnings per share for the current year.
INN has been the subject of several recent analyst reports. Zacks Investment Research upgraded Summit Hotel Properties from a sell rating to a hold rating in a research note on Wednesday, July 11th. Bank of America downgraded Summit Hotel Properties from a buy rating to a neutral rating in a research note on Tuesday, October 23rd. Finally, ValuEngine downgraded Summit Hotel Properties from a sell rating to a strong sell rating in a research note on Tuesday, October 23rd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the company’s stock. The company presently has an average rating of Hold and a consensus price target of $16.08.
Summit Hotel Properties Company Profile
Summit Hotel Properties, Inc is a publicly-traded real estate investment trust focused on owning premium-branded hotels with efficient operating models primarily in the upscale segment of the lodging industry. As of August 1, 2018, the Company's portfolio consisted of 77 hotels with a total of 11,657 guestrooms located in 26 states.
Recommended Story: Determine Your Level of Risk Tolerance
Receive News & Ratings for Summit Hotel Properties Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Summit Hotel Properties and related companies with MarketBeat.com's FREE daily email newsletter.