DiamondRock Hospitality (NYSE:DRH) Releases Quarterly Earnings Results, Beats Expectations By $0.17 EPS

Key Points

• DiamondRock Hospitality reported quarterly EPS of $0.32, beating the consensus estimate of $0.15 by $0.17.
• Shares were unchanged at $14.52 on the day, despite trading volume above its average.
• Analysts’ consensus rating was Hold, with an average price target of $13.03; four analysts rated the stock Buy and seven rated it Hold.

DiamondRock Hospitality (NYSE:DRH - Get Free Report) posted its quarterly earnings data on Tuesday. The real estate investment trust reported $0.32 EPS for the quarter, topping the consensus estimate of $0.15 by $0.17, Zacks reports. DiamondRock Hospitality had a return on equity of 4.04% and a net margin of 5.69%.

DiamondRock Hospitality Stock Performance

Shares of DRH remained flat at $14.52 during trading hours on Tuesday. 4,456,174 shares of the company were exchanged, compared to its average volume of 2,561,097. The company has a market capitalization of $2.97 billion, a P/E ratio of 58.08, a P/E/G ratio of 4.50 and a beta of 1.04. 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's 50-day simple moving average is $12.82 and its 200-day simple moving average is $11.33. DiamondRock Hospitality has a 52 week low of $7.86 and a 52 week high of $14.67.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on DRH shares. Stifel Nicolaus boosted their price target on DiamondRock Hospitality from $12.50 to $13.25 and gave the company a "hold" rating in a report on Friday, July 31st. Wells Fargo & Company upped their price target on DiamondRock Hospitality from $13.00 to $14.00 and gave the stock an "equal weight" rating in a research report on Monday, October 26th. Bank of America raised their price objective on DiamondRock Hospitality from $12.50 to $13.00 and gave the stock a "buy" rating in a research note on Monday, July 20th. Barclays boosted their price objective on DiamondRock Hospitality from $12.00 to $14.00 and gave the company an "equal weight" rating in a research note on Thursday, August 27th. Finally, Citigroup increased their target price on shares of DiamondRock Hospitality from $11.00 to $13.00 and gave the stock a "neutral" rating in a report on Wednesday, July 22nd. Four analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $13.03.

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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