DiamondRock Hospitality (NYSE:DRH) Updates FY24 Earnings Guidance

DiamondRock Hospitality (NYSE:DRH) issued an update on its FY24 earnings guidance on Thursday morning. The company provided earnings per share guidance of $0.97-0.99 for the period, compared to the consensus earnings per share estimate of $0.96.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on DRH. Wells Fargo & Company reduced their price target on shares of DiamondRock Hospitality from $9.50 to $9.00 and set an “equal weight” rating for the company in a report on Friday, September 13th. Truist Financial lowered their target price on DiamondRock Hospitality from $11.00 to $10.00 and set a “hold” rating for the company in a report on Wednesday, September 4th. Compass Point raised DiamondRock Hospitality from a “neutral” rating to a “buy” rating and set a $10.00 price target on the stock in a research note on Monday, August 5th. Finally, StockNews.com cut DiamondRock Hospitality from a “hold” rating to a “sell” rating in a research report on Monday. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, DiamondRock Hospitality has a consensus rating of “Hold” and an average target price of $9.92.

DiamondRock Hospitality Stock Down 0.5 %

DiamondRock Hospitality stock traded down $0.05 during mid-day trading on Thursday, reaching $9.25. The company’s stock had a trading volume of 2,068,577 shares, compared to its average volume of 1,872,065. The business’s 50 day simple moving average is $8.77 and its 200 day simple moving average is $8.54. The company has a debt-to-equity ratio of 0.71, a quick ratio of 2.03 and a current ratio of 2.03. DiamondRock Hospitality has a 12 month low of $7.74 and a 12 month high of $9.99. The company has a market capitalization of $1.92 billion, a price-to-earnings ratio of 32.07, a price-to-earnings-growth ratio of 5.10 and a beta of 1.60.

DiamondRock Hospitality Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Monday, September 30th were given a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.30%. The ex-dividend date was Monday, September 30th. DiamondRock Hospitality’s dividend payout ratio is currently 41.38%.

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 leisure destinations and top gateway markets. The Company currently owns 36 premium quality hotels with over 9,700 rooms. The Company has strategically positioned its portfolio to be operated both under leading global brand families as well as independent boutique hotels in the lifestyle segment.