DiamondRock Hospitality (NYSE:DRH) Issues FY 2024 Earnings Guidance

DiamondRock Hospitality (NYSE:DRH) updated its FY 2024 earnings guidance on Thursday. The company provided EPS guidance of 0.970-0.990 for the period, compared to the consensus EPS estimate of 0.980. The company issued revenue guidance of -. DiamondRock Hospitality also updated its FY24 guidance to $0.97-0.99 EPS.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Truist Financial dropped their price target on shares of DiamondRock Hospitality from $11.00 to $10.00 and set a “hold” rating for the company in a research report on Wednesday, September 4th. Wells Fargo & Company dropped 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 research report on Friday, September 13th. Compass Point raised shares of DiamondRock Hospitality from a “neutral” rating to a “buy” rating and set a $10.00 price target for the company in a research report on Monday, August 5th. Finally, StockNews.com lowered shares of DiamondRock Hospitality from a “hold” rating to a “sell” rating in a report on Monday. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $9.92.

DiamondRock Hospitality Price Performance

Shares of DiamondRock Hospitality stock traded down $0.05 during midday trading on Thursday, reaching $9.25. The company had a trading volume of 2,068,577 shares, compared to its average volume of 1,872,065. The company has a current ratio of 2.03, a quick ratio of 2.03 and a debt-to-equity ratio of 0.71. 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. The stock has a fifty day simple moving average of $8.77 and a 200 day simple moving average of $8.54. DiamondRock Hospitality has a 1-year low of $7.74 and a 1-year high of $9.99.

DiamondRock Hospitality Dividend Announcement

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

About DiamondRock Hospitality

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.