DiamondRock Hospitality (DRH) Expected to Announce Quarterly Sales of $203.48 Million

Wall Street brokerages forecast that DiamondRock Hospitality (NYSE:DRH) will report $203.48 million in sales for the current quarter, Zacks reports. Seven analysts have issued estimates for DiamondRock Hospitality’s earnings, with the highest sales estimate coming in at $212.83 million and the lowest estimate coming in at $193.77 million. DiamondRock Hospitality posted sales of $206.62 million during the same quarter last year, which would indicate a negative year-over-year growth rate of 1.5%. The company is expected to report its next earnings results after the market closes on Monday, February 26th.

On average, analysts expect that DiamondRock Hospitality will report full year sales of $203.48 million for the current year, with estimates ranging from $856.74 million to $875.79 million. For the next fiscal year, analysts forecast that the company will post sales of $861.62 million per share, with estimates ranging from $828.90 million to $904.05 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that cover DiamondRock Hospitality.

DRH has been the subject of several recent analyst reports. Zacks Investment Research cut shares of DiamondRock Hospitality from a “hold” rating to a “sell” rating in a research report on Tuesday, November 14th. Boenning Scattergood set a $10.00 price objective on shares of DiamondRock Hospitality and gave the stock a “sell” rating in a research report on Thursday, October 26th. Robert W. Baird reaffirmed a “buy” rating and set a $12.00 price objective on shares of DiamondRock Hospitality in a research report on Friday, November 10th. Evercore ISI raised shares of DiamondRock Hospitality from an “in-line” rating to an “outperform” rating in a research report on Monday, December 4th. Finally, TheStreet cut shares of DiamondRock Hospitality from a “b” rating to a “c+” rating in a research report on Monday, November 6th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $12.00.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Xact Kapitalforvaltning AB purchased a new stake in DiamondRock Hospitality in the fourth quarter valued at $220,000. MetLife Investment Advisors LLC purchased a new stake in DiamondRock Hospitality in the fourth quarter valued at $1,043,000. Vident Investment Advisory LLC lifted its position in DiamondRock Hospitality by 9.0% in the fourth quarter. Vident Investment Advisory LLC now owns 241,231 shares of the real estate investment trust’s stock valued at $2,724,000 after acquiring an additional 19,904 shares during the last quarter. Zeke Capital Advisors LLC purchased a new stake in DiamondRock Hospitality in the fourth quarter valued at $140,000. Finally, Millennium Management LLC lifted its position in DiamondRock Hospitality by 281.3% in the fourth quarter. Millennium Management LLC now owns 6,601,651 shares of the real estate investment trust’s stock valued at $74,533,000 after acquiring an additional 4,870,152 shares during the last quarter.

Shares of DiamondRock Hospitality (DRH) opened at $10.91 on Friday. The stock has a market cap of $2,189.34, a price-to-earnings ratio of 11.04, a PEG ratio of 2.20 and a beta of 1.35. DiamondRock Hospitality has a 1 year low of $10.43 and a 1 year high of $12.11. The company has a debt-to-equity ratio of 0.51, a quick ratio of 2.41 and a current ratio of 2.41.

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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.

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

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