DiamondRock Hospitality (NYSE:DRH – Get Free Report) released its earnings results on Tuesday. The real estate investment trust reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.15 by $0.01, Zacks reports. The business had revenue of $297.60 million for the quarter, compared to analyst estimates of $292.08 million. DiamondRock Hospitality had a net margin of 5.69% and a return on equity of 4.04%. DiamondRock Hospitality’s revenue for the quarter was up 4.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.29 earnings per share.
DiamondRock Hospitality Price Performance
DRH stock opened at $14.52 on Wednesday. The stock’s 50 day simple moving average is $12.85 and its 200 day simple moving average is $11.35. DiamondRock Hospitality has a fifty-two week low of $7.86 and a fifty-two week high of $14.67. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.64 and a current ratio of 1.64. The company has a market cap of $2.97 billion, a P/E ratio of 58.08, a price-to-earnings-growth ratio of 4.50 and a beta of 1.04.
Wall Street Analysts Forecast Growth
Several research firms recently commented on DRH. Zacks Research cut DiamondRock Hospitality from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 28th. Stifel Nicolaus boosted their price target on DiamondRock Hospitality from $12.50 to $13.25 and gave the company a “hold” rating in a research note on Friday, July 31st. Wells Fargo & Company increased their price target on DiamondRock Hospitality from $13.00 to $14.00 and gave the stock an “equal weight” rating in a report on Monday, October 26th. Barclays increased their price target on DiamondRock Hospitality from $12.00 to $14.00 and gave the stock an “equal weight” rating in a report on Thursday, August 27th. Finally, Citigroup raised their price objective on shares of DiamondRock Hospitality from $11.00 to $13.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 22nd. Four analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $13.03.
Read Our Latest Analysis on DRH
About DiamondRock Hospitality
DiamondRock Hospitality Company (NYSE: DRH) is a self-advised real estate investment trust that owns a portfolio of hotels and resort properties in the United States. The company focuses on lodging real estate in leisure destinations and gateway markets, with properties serving business travelers, vacationers, and group customers.
DiamondRock’s portfolio includes hotels operated under nationally recognized brands as well as independent and boutique properties. Its business activities include acquiring, owning, leasing, and strategically managing hospitality real estate, while day-to-day hotel operations are generally carried out by third-party management companies and brand operators.
The company was formed in 2004 through a spin-off from Marriott International and is headquartered in Bethesda, Maryland.
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