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

Ryman Hospitality Properties (NYSE:RHP) released its quarterly earnings data on Monday. The real estate investment trust reported $0.94 EPS for the quarter, missing the consensus estimate of $1.83 by ($0.89), Zacks reports. Ryman Hospitality Properties had a net margin of 14.84% and a return on equity of 61.88%. The business had revenue of $549.90 million for the quarter, compared to the consensus estimate of $545.93 million. During the same quarter last year, the business earned $1.73 EPS. Ryman Hospitality Properties’s revenue for the quarter was up 4.0% compared to the same quarter last year. 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

Shares of RHP stock opened at $113.04 on Thursday. The stock has a 50 day moving average price of $107.09 and a 200 day moving average price of $103.88. Ryman Hospitality Properties has a 52-week low of $88.14 and a 52-week high of $122.91. The company has a debt-to-equity ratio of 5.96, a quick ratio of 1.92 and a current ratio of 1.92. The firm has a market capitalization of $6.77 billion, a P/E ratio of 20.08, a P/E/G ratio of 2.08 and a beta of 1.65.

Ryman Hospitality Properties Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be issued a $1.15 dividend. This represents a $4.60 annualized dividend and a dividend yield of 4.07%. This is an increase from Ryman Hospitality Properties’s previous quarterly dividend of $1.10. The ex-dividend date of this dividend is Tuesday, December 31st. Ryman Hospitality Properties’s dividend payout ratio is presently 78.15%.

Insider Buying and Selling at Ryman Hospitality Properties

In other news, Director Alvin L. Bowles, Jr. sold 900 shares of Ryman Hospitality Properties stock in a transaction 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 completion of the sale, the director now directly owns 3,148 shares in the company, valued at approximately $337,843.36. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 3.00% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on RHP. Jefferies Financial Group began coverage on shares of Ryman Hospitality Properties in a report on Wednesday. They issued a “buy” rating and a $130.00 price target for the company. StockNews.com raised Ryman Hospitality Properties from a “sell” rating to a “hold” rating in a research note on Friday, August 9th. Wells Fargo & Company dropped their target price on Ryman Hospitality Properties from $127.00 to $115.00 and set an “overweight” rating for the company in a report on Friday, September 13th. Finally, JPMorgan Chase & Co. boosted their target price on 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 analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Ryman Hospitality Properties has a consensus rating of “Moderate Buy” and an average target price of $125.17.

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.