Ryman Hospitality Properties (NYSE:RHP) Releases FY24 Earnings Guidance

Ryman Hospitality Properties (NYSE:RHP) issued an update on its FY24 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of $8.09-8.51 for the period, compared to the consensus estimate of $8.03.

Ryman Hospitality Properties Stock Down 2.2 %

Shares of NYSE RHP traded down $2.28 on Wednesday, hitting $100.64. The company had a trading volume of 1,135,612 shares, compared to its average volume of 445,167. Ryman Hospitality Properties has a 12-month low of $79.86 and a 12-month high of $122.91. The business has a 50 day moving average of $101.13 and a two-hundred day moving average of $108.47. The company has a quick ratio of 1.99, a current ratio of 1.99 and a debt-to-equity ratio of 6.33. The firm has a market capitalization of $6.03 billion, a P/E ratio of 21.31, a PEG ratio of 2.15 and a beta of 1.64.

Ryman Hospitality Properties Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Friday, June 28th were issued a $1.10 dividend. This represents a $4.40 dividend on an annualized basis and a yield of 4.37%. The ex-dividend date of this dividend was Friday, June 28th. Ryman Hospitality Properties’s dividend payout ratio is currently 91.10%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on RHP. StockNews.com cut Ryman Hospitality Properties from a hold rating to a sell rating in a research report on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft decreased their price target on Ryman Hospitality Properties from $141.00 to $136.00 and set a buy rating for the company in a research note on Thursday, May 9th. Finally, Truist Financial reduced their price objective on Ryman Hospitality Properties from $135.00 to $130.00 and set a buy rating for the company in a research note on Thursday, May 30th. One research analyst has rated the stock with a sell rating, one has given a hold rating and six have issued a buy rating to the company. According to MarketBeat, Ryman Hospitality Properties has an average rating of Moderate Buy and a consensus price target of $118.29.

Insider Buying and Selling

In other news, Director William E. Haslam acquired 9,972 shares of the firm’s stock in a transaction that occurred on Thursday, June 13th. The shares were acquired at an average cost of $100.28 per share, with a total value of $999,992.16. Following the completion of the purchase, the director now directly owns 22,790 shares of the company’s stock, valued at approximately $2,285,381.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Ryman Hospitality Properties news, Chairman Colin V. Reed bought 13,800 shares of the stock in a transaction that occurred on Tuesday, May 7th. The shares were bought at an average price of $106.40 per share, for a total transaction of $1,468,320.00. Following the acquisition, the chairman now directly owns 819,143 shares of the company’s stock, valued at approximately $87,156,815.20. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director William E. Haslam acquired 9,972 shares of Ryman Hospitality Properties stock in a transaction on Thursday, June 13th. The stock was purchased at an average cost of $100.28 per share, with a total value of $999,992.16. Following the completion of the transaction, the director now directly owns 22,790 shares in the company, valued at approximately $2,285,381.20. The disclosure for this purchase can be found here. 3.00% of the stock is currently owned by corporate insiders.

Ryman Hospitality Properties Company Profile

Ryman Hospitality Properties, Inc (NYSE: RHP) is a leading lodging and hospitality real estate investment trust that specializes in upscale convention center resorts and entertainment experiences. The Company's holdings include Gaylord Opryland Resort & Convention Center; Gaylord Palms Resort & Convention Center; Gaylord Texan Resort & Convention Center; Gaylord National Resort & Convention Center; and Gaylord Rockies Resort & Convention Center, five of the top seven largest non-gaming convention center hotels in the United States based on total indoor meeting space.