Ryman Hospitality Properties (NYSE:RHP) Posts Earnings Results, Misses Expectations By $0.89 EPS

Ryman Hospitality Properties (NYSE:RHP) announced its earnings results on Monday. The real estate investment trust reported $0.94 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.83 by ($0.89), Zacks reports. Ryman Hospitality Properties had a return on equity of 60.97% and a net margin of 14.21%. The company had revenue of $549.90 million during the quarter, compared to analysts’ expectations of $545.93 million. During the same quarter last year, the firm posted $1.73 earnings per share. The firm’s revenue was up 4.0% on a year-over-year basis. Ryman Hospitality Properties updated its FY24 guidance to $8.39-$8.68 EPS and its FY 2024 guidance to 8.390-8.680 EPS.

Ryman Hospitality Properties Price Performance

NYSE RHP traded down $3.42 during trading hours on Tuesday, reaching $105.50. The company’s stock had a trading volume of 163,626 shares, compared to its average volume of 450,587. The company has a market capitalization of $6.32 billion, a price-to-earnings ratio of 20.44, a PEG ratio of 2.05 and a beta of 1.65. The firm’s 50-day moving average price is $106.77 and its 200-day moving average price is $103.79. Ryman Hospitality Properties has a 1 year low of $88.14 and a 1 year high of $122.91. The company has a quick ratio of 1.92, a current ratio of 1.92 and a debt-to-equity ratio of 5.96.

Ryman Hospitality Properties Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were paid a dividend of $1.10 per share. This represents a $4.40 dividend on an annualized basis and a dividend yield of 4.17%. The ex-dividend date of this dividend was Monday, September 30th. Ryman Hospitality Properties’s dividend payout ratio (DPR) is 82.55%.

Insiders Place Their Bets

In other Ryman Hospitality Properties news, Director Alvin L. Bowles, Jr. sold 900 shares of the company’s stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $107.32, for a total transaction of $96,588.00. Following the sale, the director now directly owns 3,148 shares in the company, valued at $337,843.36. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 3.00% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. StockNews.com raised shares of Ryman Hospitality Properties from a “sell” rating to a “hold” rating in a research note on Friday, August 9th. Wells Fargo & Company cut their price objective on Ryman Hospitality Properties from $127.00 to $115.00 and set an “overweight” rating on the stock in a research report on Friday, September 13th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Ryman Hospitality Properties from $104.00 to $105.00 and gave the company a “neutral” rating in a research report on Friday, August 2nd. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $124.20.

About Ryman Hospitality Properties

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.