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

DiamondRock Hospitality (NYSE:DRH) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided EPS guidance of 0.950-1.000 for the period, compared to the consensus EPS estimate of 0.970. The company issued revenue guidance of -.

DiamondRock Hospitality Stock Performance

Shares of NYSE DRH remained flat at $8.09 during mid-day trading on Friday. The company had a trading volume of 4,483,656 shares, compared to its average volume of 2,103,640. The company has a debt-to-equity ratio of 0.71, a quick ratio of 2.04 and a current ratio of 2.04. The stock has a market capitalization of $1.70 billion, a PE ratio of 22.47, a PEG ratio of 4.75 and a beta of 1.60. The business has a fifty day moving average price of $8.33 and a 200-day moving average price of $8.88. DiamondRock Hospitality has a twelve month low of $7.33 and a twelve month high of $9.99.

DiamondRock Hospitality Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, July 12th. Stockholders of record on Friday, June 28th were issued a dividend of $0.03 per share. The ex-dividend date was Friday, June 28th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.48%. DiamondRock Hospitality’s dividend payout ratio is 33.33%.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded DiamondRock Hospitality from a hold rating to a sell rating in a report on Friday. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of Hold and a consensus price target of $10.30.

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.