FY2017 Earnings Estimate for DiamondRock Hospitality Company (DRH) Issued By SunTrust Banks

DiamondRock Hospitality Company (NYSE:DRH) – SunTrust Banks raised their FY2017 earnings per share (EPS) estimates for shares of DiamondRock Hospitality in a research note issued to investors on Wednesday. SunTrust Banks analyst P. Scholes now forecasts that the real estate investment trust will post earnings per share of $1.00 for the year, up from their previous estimate of $0.99. SunTrust Banks also issued estimates for DiamondRock Hospitality’s Q1 2018 earnings at $0.19 EPS.

Several other analysts have also commented on the company. Zacks Investment Research lowered DiamondRock Hospitality from a “buy” rating to a “hold” rating in a research note on Thursday. Stifel Nicolaus restated a “buy” rating on shares of DiamondRock Hospitality in a research report on Thursday. Canaccord Genuity restated a “buy” rating and set a $13.00 target price on shares of DiamondRock Hospitality in a research report on Monday, August 7th. BidaskClub upgraded DiamondRock Hospitality from a “sell” rating to a “hold” rating in a research report on Thursday, August 3rd. Finally, ING Group upgraded DiamondRock Hospitality to an “outperform” rating and set a $13.00 target price for the company in a research report on Monday, July 17th. They noted that the move was a valuation call. Three analysts have rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $11.56.

ILLEGAL ACTIVITY WARNING: “FY2017 Earnings Estimate for DiamondRock Hospitality Company (DRH) Issued By SunTrust Banks” was published by StockNewsTimes and is owned by of StockNewsTimes. If you are accessing this news story on another website, it was copied illegally and republished in violation of U.S. & international copyright legislation. The original version of this news story can be accessed at https://stocknewstimes.com/2017/08/12/fy2017-earnings-estimate-for-diamondrock-hospitality-company-drh-issued-by-suntrust-banks.html.

Shares of DiamondRock Hospitality (DRH) opened at 11.00 on Thursday. The firm has a market cap of $2.20 billion, a P/E ratio of 22.27 and a beta of 1.38. The company’s 50-day moving average is $11.47 and its 200-day moving average is $11.23. DiamondRock Hospitality has a 52-week low of $8.73 and a 52-week high of $12.08.

DiamondRock Hospitality (NYSE:DRH) last posted its earnings results on Monday, August 7th. The real estate investment trust reported $0.32 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.31 by $0.01. The firm had revenue of $243.30 million during the quarter, compared to the consensus estimate of $240.73 million. DiamondRock Hospitality had a net margin of 15.04% and a return on equity of 8.03%. The company’s revenue was up 1.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.31 EPS.

Large investors have recently added to or reduced their stakes in the stock. Meeder Asset Management Inc. purchased a new stake in DiamondRock Hospitality during the first quarter valued at $116,000. Meadow Creek Investment Management LLC increased its stake in shares of DiamondRock Hospitality 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 in the last quarter. Ronald Blue & Co. LLC increased its stake in shares of DiamondRock Hospitality 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 in the last quarter. Piedmont Investment Advisors LLC purchased a new stake in shares of DiamondRock Hospitality during the first quarter valued at approximately $134,000. Finally, OLD National Bancorp IN purchased a new stake in shares of DiamondRock Hospitality during the first quarter valued at approximately $142,000.

About DiamondRock Hospitality

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.

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

Receive News & Ratings for DiamondRock Hospitality Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for DiamondRock Hospitality Company and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply