Zacks: Brokerages Anticipate DiamondRock Hospitality (NYSE:DRH) Will Post Quarterly Sales of $247.54 Million

Equities research analysts expect DiamondRock Hospitality (NYSE:DRHGet Rating) to announce $247.54 million in sales for the current quarter, according to Zacks Investment Research. Five analysts have provided estimates for DiamondRock Hospitality’s earnings. The lowest sales estimate is $210.99 million and the highest is $260.59 million. DiamondRock Hospitality reported sales of $124.79 million during the same quarter last year, which suggests a positive year-over-year growth rate of 98.4%. The firm is scheduled to issue its next quarterly earnings results on Monday, January 1st.

On average, analysts expect that DiamondRock Hospitality will report full-year sales of $906.54 million for the current financial year, with estimates ranging from $826.69 million to $958.65 million. For the next year, analysts expect that the firm will post sales of $976.99 million, with estimates ranging from $914.40 million to $1.04 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that that provide coverage for DiamondRock Hospitality.

DiamondRock Hospitality (NYSE:DRHGet Rating) last issued its quarterly earnings data on Thursday, May 5th. The real estate investment trust reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.03). The company had revenue of $196.80 million for the quarter, compared to the consensus estimate of $179.36 million. DiamondRock Hospitality had a negative net margin of 1.98% and a negative return on equity of 0.90%. DiamondRock Hospitality’s revenue was up 170.0% on a year-over-year basis. During the same quarter last year, the business posted ($0.12) earnings per share.

Several analysts have weighed in on DRH shares. Deutsche Bank Aktiengesellschaft boosted their price objective on DiamondRock Hospitality from $11.00 to $12.00 in a research report on Wednesday, May 18th. Wells Fargo & Company upped their price target on DiamondRock Hospitality from $10.50 to $11.00 and gave the company an “overweight” rating in a report on Thursday, March 10th. StockNews.com began coverage on DiamondRock Hospitality in a report on Thursday, March 31st. They issued a “hold” rating on the stock. The Goldman Sachs Group raised their price objective on DiamondRock Hospitality from $10.00 to $11.00 and gave the stock a “sell” rating in a research note on Wednesday, April 6th. Finally, Zacks Investment Research downgraded DiamondRock Hospitality from a “buy” rating to a “hold” rating in a research note on Friday, April 22nd. One research analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $10.58.

Institutional investors have recently bought and sold shares of the business. CIBC Asset Management Inc grew its holdings in shares of DiamondRock Hospitality by 4.2% during the fourth quarter. CIBC Asset Management Inc now owns 27,895 shares of the real estate investment trust’s stock worth $268,000 after buying an additional 1,118 shares during the last quarter. PNC Financial Services Group Inc. grew its stake in shares of DiamondRock Hospitality by 9.4% during the 1st quarter. PNC Financial Services Group Inc. now owns 13,193 shares of the real estate investment trust’s stock valued at $133,000 after buying an additional 1,130 shares during the period. Thrivent Financial for Lutherans lifted its holdings in DiamondRock Hospitality by 0.7% in the 4th quarter. Thrivent Financial for Lutherans now owns 171,405 shares of the real estate investment trust’s stock worth $1,647,000 after buying an additional 1,159 shares in the last quarter. Mackenzie Financial Corp grew its position in shares of DiamondRock Hospitality by 10.8% during the 1st quarter. Mackenzie Financial Corp now owns 13,036 shares of the real estate investment trust’s stock valued at $132,000 after buying an additional 1,272 shares during the last quarter. Finally, Advisor Partners LLC grew its position in DiamondRock Hospitality by 14.0% in the 1st quarter. Advisor Partners LLC now owns 11,789 shares of the real estate investment trust’s stock worth $119,000 after purchasing an additional 1,448 shares during the last quarter. Institutional investors own 99.54% of the company’s stock.

Shares of NYSE DRH opened at $10.40 on Friday. The business has a 50-day moving average of $10.01 and a 200-day moving average of $9.68. The firm has a market capitalization of $2.19 billion, a price-to-earnings ratio of -94.55 and a beta of 1.57. DiamondRock Hospitality has a 12 month low of $8.04 and a 12 month high of $11.15. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 0.77.

About DiamondRock Hospitality (Get Rating)

DiamondRock Hospitality Company is a self-advised real estate investment trust (REIT) that is an owner of a leading portfolio of geographically diversified hotels concentrated in top gateway markets and destination resort locations. The Company owns 31 premium quality hotels with over 10,000 rooms. The Company has strategically positioned its hotels to be operated both under leading global brand families as well as unique boutique hotels in the lifestyle segment.

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