$241.19 Million in Sales Anticipated for DiamondRock Hospitality Company (DRH) This Quarter

$241.19 Million in Sales Anticipated for DiamondRock Hospitality Company (DRH) This Quarter

Wall Street brokerages expect DiamondRock Hospitality Company (NYSE:DRH) to post sales of $241.19 million for the current fiscal quarter, according to Zacks. Eight analysts have made estimates for DiamondRock Hospitality Company’s earnings. The lowest sales estimate is $226.86 million and the highest is $258.28 million. DiamondRock Hospitality Company posted sales of $256.66 million in the same quarter last year, which would indicate a negative year over year growth rate of 6%. The firm is expected to report its next earnings results on Friday, August 4th.

On average, analysts expect that DiamondRock Hospitality Company will report full year sales of $241.19 million for the current financial year, with estimates ranging from $847.40 million to $889.23 million. For the next financial year, analysts forecast that the firm will report sales of $888.43 million per share, with estimates ranging from $854.18 million to $906.22 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that cover DiamondRock Hospitality Company.

DiamondRock Hospitality Company (NYSE:DRH) last announced its earnings results on Friday, May 5th. The real estate investment trust reported $0.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.17 by $0.01. The company had revenue of $196.21 million during the quarter, compared to analysts’ expectations of $192.85 million. DiamondRock Hospitality Company had a net margin of 12.62% and a return on equity of 6.37%. The firm’s quarterly revenue was down 7.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.21 earnings per share.

Several equities analysts have commented on the company. Zacks Investment Research downgraded DiamondRock Hospitality Company from a “buy” rating to a “hold” rating in a report on Wednesday. Boenning Scattergood reiterated an “underperform” rating on shares of DiamondRock Hospitality Company in a report on Wednesday, April 12th. Canaccord Genuity reiterated a “buy” rating and set a $13.00 price target on shares of DiamondRock Hospitality Company in a report on Friday, May 5th. Stifel Nicolaus upgraded DiamondRock Hospitality Company from a “hold” rating to a “buy” rating and increased their price target for the company from $11.50 to $11.75 in a report on Monday, May 15th. They noted that the move was a valuation call. Finally, Goldman Sachs Group Inc assumed coverage on DiamondRock Hospitality Company in a report on Monday, April 10th. They set a “neutral” rating and a $11.00 price target on the stock. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the company’s stock. DiamondRock Hospitality Company currently has an average rating of “Hold” and a consensus target price of $11.25.

Shares of DiamondRock Hospitality Company (DRH) traded down 0.45% during trading on Friday, reaching $11.09. 1,847,414 shares of the company’s stock were exchanged. The company’s 50-day moving average price is $11.10 and its 200 day moving average price is $11.10. The firm has a market capitalization of $2.22 billion, a PE ratio of 20.92 and a beta of 1.28. DiamondRock Hospitality Company has a 52 week low of $8.57 and a 52 week high of $12.00.

Hedge funds have recently added to or reduced their stakes in the company. K2 Principal Fund L.P. bought a new stake in DiamondRock Hospitality Company during the third quarter valued at about $109,000. Meeder Asset Management Inc. bought a new stake in DiamondRock Hospitality Company during the first quarter valued at about $116,000. CAMG Solamere Management LLC bought a new stake in DiamondRock Hospitality Company during the fourth quarter valued at about $122,000. Meadow Creek Investment Management LLC raised its stake in DiamondRock Hospitality Company by 6.3% in the first quarter. Meadow Creek Investment Management LLC now owns 10,892 shares of the real estate investment trust’s stock valued at $122,000 after buying an additional 644 shares during the period. Finally, Ronald Blue & Co. LLC raised its stake in DiamondRock Hospitality Company by 4.6% in the first quarter. Ronald Blue & Co. LLC now owns 11,087 shares of the real estate investment trust’s stock valued at $124,000 after buying an additional 483 shares during the period.

About DiamondRock Hospitality Company

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.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “DRH”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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