$33.72 Million in Sales Expected for DiamondRock Hospitality (NYSE:DRH) This Quarter

Analysts expect that DiamondRock Hospitality (NYSE:DRH) will report $33.72 million in sales for the current fiscal quarter, Zacks Investment Research reports. Five analysts have provided estimates for DiamondRock Hospitality’s earnings. The lowest sales estimate is $21.22 million and the highest is $48.95 million. DiamondRock Hospitality reported sales of $257.92 million during the same quarter last year, which indicates a negative year over year growth rate of 86.9%. The company is expected to issue its next quarterly earnings report on Monday, August 3rd.

On average, analysts expect that DiamondRock Hospitality will report full-year sales of $467.54 million for the current fiscal year, with estimates ranging from $383.45 million to $500.35 million. For the next year, analysts anticipate that the company will report sales of $732.56 million, with estimates ranging from $635.52 million to $807.26 million. Zacks’ sales calculations are an average based on a survey of research firms that that provide coverage for DiamondRock Hospitality.

DiamondRock Hospitality (NYSE:DRH) last released its quarterly earnings results on Monday, May 11th. The real estate investment trust reported ($0.17) EPS for the quarter, missing the Zacks’ consensus estimate of $0.06 by ($0.23). DiamondRock Hospitality had a return on equity of 7.53% and a net margin of 15.46%. The company had revenue of $170.00 million during the quarter, compared to analysts’ expectations of $161.32 million. During the same period in the prior year, the firm earned $0.21 EPS. DiamondRock Hospitality’s quarterly revenue was down 16.0% on a year-over-year basis.

Several research analysts recently issued reports on DRH shares. Stifel Nicolaus decreased their price target on shares of DiamondRock Hospitality from $12.00 to $7.00 and set a “buy” rating for the company in a research note on Tuesday, March 17th. ValuEngine upgraded shares of DiamondRock Hospitality from a “strong sell” rating to a “sell” rating in a research note on Monday, April 27th. SunTrust Banks reduced their price objective on shares of DiamondRock Hospitality from $9.00 to $4.00 and set a “hold” rating on the stock in a research report on Wednesday, April 29th. Morgan Stanley reduced their price target on shares of DiamondRock Hospitality from $6.00 to $5.00 and set an “underweight” rating on the stock in a research report on Friday, May 15th. Finally, Deutsche Bank reaffirmed a “hold” rating and set a $6.00 price objective on shares of DiamondRock Hospitality in a research note on Monday, May 18th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $5.78.

DRH traded down $0.08 during trading on Monday, hitting $5.69. 2,161,750 shares of the stock traded hands, compared to its average volume of 3,856,492. The firm has a market capitalization of $1.15 billion, a P/E ratio of 8.25 and a beta of 1.76. The company has a debt-to-equity ratio of 0.81, a current ratio of 3.42 and a quick ratio of 3.42. The firm has a 50-day moving average of $5.05 and a 200 day moving average of $8.37. DiamondRock Hospitality has a 12-month low of $1.96 and a 12-month high of $11.79.

Institutional investors have recently made changes to their positions in the business. Tower Research Capital LLC TRC raised its holdings in DiamondRock Hospitality by 6,365.0% in the first quarter. Tower Research Capital LLC TRC now owns 6,465 shares of the real estate investment trust’s stock worth $33,000 after purchasing an additional 6,365 shares in the last quarter. grace capital bought a new position in DiamondRock Hospitality in the fourth quarter worth about $34,000. Federated Hermes Inc. raised its holdings in DiamondRock Hospitality by 394.9% in the first quarter. Federated Hermes Inc. now owns 6,761 shares of the real estate investment trust’s stock worth $35,000 after purchasing an additional 5,395 shares in the last quarter. Bailard Inc. bought a new position in DiamondRock Hospitality in the first quarter worth about $51,000. Finally, First Quadrant L P CA bought a new position in DiamondRock Hospitality in the fourth quarter worth about $58,000.

DiamondRock Hospitality Company Profile

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 such as Hilton and Marriott as well as unique boutique hotels in the lifestyle segment.

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

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