Equities Analysts Offer Predictions for DiamondRock Hospitality Co.’s FY2016 Earnings (DRH)
DiamondRock Hospitality Co. (NYSE:DRH) – Stock analysts at KeyCorp issued their FY2016 EPS estimates for shares of DiamondRock Hospitality in a research note issued to investors on Wednesday. KeyCorp analyst A. Wurschmidt anticipates that the brokerage will earn $1.01 per share for the year. KeyCorp also issued estimates for DiamondRock Hospitality’s Q4 2016 earnings at $0.24 EPS, Q1 2017 earnings at $0.18 EPS, Q2 2017 earnings at $0.27 EPS, Q3 2017 earnings at $0.24 EPS, Q4 2017 earnings at $0.23 EPS and FY2017 earnings at $0.95 EPS.
Several other analysts also recently weighed in on the company. Zacks Investment Research downgraded DiamondRock Hospitality from a “hold” rating to a “strong sell” rating in a report on Tuesday, July 19th. Canaccord Genuity restated a “buy” rating and issued a $12.00 price objective on shares of DiamondRock Hospitality in a report on Tuesday, August 16th. Barclays PLC set a $11.00 price objective on DiamondRock Hospitality and gave the company a “buy” rating in a report on Thursday, November 10th. TheStreet upgraded DiamondRock Hospitality from a “hold” rating to a “buy” rating in a report on Tuesday, July 19th. Finally, Morgan Stanley downgraded DiamondRock Hospitality from an “equal weight” rating to an “underweight” rating and decreased their price objective for the company from $10.00 to $8.00 in a report on Monday, September 26th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $10.60.
Shares of DiamondRock Hospitality (NYSE:DRH) opened at 10.43 on Monday. The stock’s 50 day moving average is $9.24 and its 200-day moving average is $9.45. DiamondRock Hospitality has a one year low of $7.28 and a one year high of $11.34. The stock has a market cap of $2.09 billion, a P/E ratio of 17.98 and a beta of 1.25.
DiamondRock Hospitality (NYSE:DRH) last announced its quarterly earnings data on Wednesday, November 9th. The real estate investment trust reported $0.26 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.25 by $0.01. DiamondRock Hospitality had a net margin of 12.62% and a return on equity of 6.37%. The company had revenue of $220.24 million for the quarter, compared to the consensus estimate of $225.08 million. During the same period in the prior year, the firm posted $0.26 EPS. DiamondRock Hospitality’s revenue for the quarter was down 7.7% on a year-over-year basis.
Institutional investors have recently bought and sold shares of the stock. M&T Bank Corp increased its position in DiamondRock Hospitality by 25.9% in the first quarter. M&T Bank Corp now owns 18,575 shares of the real estate investment trust’s stock valued at $189,000 after buying an additional 3,818 shares during the period. State Street Corp increased its position in DiamondRock Hospitality by 4.8% in the first quarter. State Street Corp now owns 6,998,326 shares of the real estate investment trust’s stock valued at $70,820,000 after buying an additional 317,694 shares during the period. Goldman Sachs Group Inc. increased its position in DiamondRock Hospitality by 36.1% in the first quarter. Goldman Sachs Group Inc. now owns 1,188,733 shares of the real estate investment trust’s stock valued at $12,030,000 after buying an additional 315,619 shares during the period. Geode Capital Management LLC increased its position in DiamondRock Hospitality by 2.5% in the first quarter. Geode Capital Management LLC now owns 1,576,686 shares of the real estate investment trust’s stock valued at $15,956,000 after buying an additional 37,999 shares during the period. Finally, Wellington Management Group LLP increased its position in DiamondRock Hospitality by 8.6% in the first quarter. Wellington Management Group LLP now owns 4,228,239 shares of the real estate investment trust’s stock valued at $42,790,000 after buying an additional 336,303 shares during the period.
About DiamondRock Hospitality
DiamondRock Hospitality Company is a lodging-focused Maryland corporation operating as a real estate investment trust (REIT). The Company owns a portfolio of approximately 30 hotels and resorts throughout North America and the United States Virgin Islands that consists of over 10,925 guest rooms. Its primary business is to acquire, own, asset manage and renovate full-service hotel properties in the United States.
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