DiamondRock Hospitality (NYSE:DRH) Posts Quarterly Earnings Results, Beats Estimates By $0.01 EPS

DiamondRock Hospitality (NYSE:DRH) posted its quarterly earnings results on Tuesday. The real estate investment trust reported $0.16 EPS for the quarter, beating analysts’ consensus estimates of $0.15 by $0.01, Zacks reports. DiamondRock Hospitality had a net margin of 5.69% and a return on equity of 4.04%. The firm had revenue of $297.60 million for the quarter, compared to analysts’ expectations of $292.08 million. During the same quarter in the prior year, the company posted $0.29 earnings per share. The business’s revenue for the quarter was up 4.3% on a year-over-year basis.

DiamondRock Hospitality Price Performance

Shares of DRH opened at $14.52 on Wednesday. The firm has a market cap of $2.97 billion, a PE ratio of 58.08, a P/E/G ratio of 4.50 and a beta of 1.04. The company has a current ratio of 1.64, a quick ratio of 1.64 and a debt-to-equity ratio of 0.70. The firm has a fifty day simple moving average of $12.85 and a two-hundred day simple moving average of $11.35. DiamondRock Hospitality has a 1-year low of $7.86 and a 1-year high of $14.67.

Wall Street Analyst Weigh In

DRH has been the subject of a number of research analyst reports. Citigroup lifted their target price on DiamondRock Hospitality from $11.00 to $13.00 and gave the stock a “neutral” rating in a report on Wednesday, July 22nd. Barclays upped their price target on DiamondRock Hospitality from $12.00 to $14.00 and gave the company an “equal weight” rating in a report on Thursday, August 27th. Wells Fargo & Company increased their price objective on DiamondRock Hospitality from $13.00 to $14.00 and gave the company an “equal weight” rating in a research report on Monday, October 26th. Zacks Research downgraded DiamondRock Hospitality from a “strong-buy” rating to a “hold” rating in a report on Monday, September 28th. Finally, Morgan Stanley boosted their target price on DiamondRock Hospitality from $11.00 to $12.00 and gave the stock an “equal weight” rating in a research report on Monday, October 12th. Four investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat, DiamondRock Hospitality presently has a consensus rating of “Hold” and a consensus price target of $13.03.

About DiamondRock Hospitality

DiamondRock Hospitality Company (NYSE: DRH) is a self-advised real estate investment trust that owns a portfolio of hotels and resort properties in the United States. The company focuses on lodging real estate in leisure destinations and gateway markets, with properties serving business travelers, vacationers, and group customers.

DiamondRock’s portfolio includes hotels operated under nationally recognized brands as well as independent and boutique properties. Its business activities include acquiring, owning, leasing, and strategically managing hospitality real estate, while day-to-day hotel operations are generally carried out by third-party management companies and brand operators.

The company was formed in 2004 through a spin-off from Marriott International and is headquartered in Bethesda, Maryland.