DiamondRock Hospitality (NYSE:DRH – Get Free Report) released its quarterly earnings results on Thursday. The real estate investment trust reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.22), Zacks reports. The business had revenue of $309.28 million for the quarter, compared to analysts’ expectations of $301.77 million. DiamondRock Hospitality had a net margin of 6.43% and a return on equity of 4.31%. DiamondRock Hospitality’s revenue for the quarter was up 6.2% compared to the same quarter last year. During the same period in the previous year, the company earned $0.32 EPS. DiamondRock Hospitality updated its FY 2024 guidance to 0.950-1.000 EPS.
DiamondRock Hospitality Price Performance
Shares of DRH remained flat at $8.09 during midday trading on Friday. 4,483,656 shares of the stock traded hands, compared to its average volume of 2,103,640. The company’s 50-day moving average is $8.33 and its 200 day moving average is $8.88. The company has a current ratio of 2.04, a quick ratio of 2.04 and a debt-to-equity ratio of 0.71. The stock has a market capitalization of $1.70 billion, a price-to-earnings ratio of 22.47, a PEG ratio of 4.75 and a beta of 1.60. DiamondRock Hospitality has a 1-year low of $7.33 and a 1-year high of $9.99.
DiamondRock Hospitality Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Friday, July 12th. Stockholders of record on Friday, June 28th were paid a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 1.48%. The ex-dividend date was Friday, June 28th. DiamondRock Hospitality’s dividend payout ratio is currently 33.33%.
Wall Street Analysts Forecast Growth
View Our Latest Research Report on DRH
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.
Further Reading
- Five stocks we like better than DiamondRock Hospitality
- Airline Stocks – Top Airline Stocks to Buy Now
- Market Crash? No Problem for DoorDash Stock’s Impressive Earnings
- Best Stocks Under $5.00
- Snap’s Stock Plummets on Q2 Revenue Guidance Shortfall
- Dividend Capture Strategy: What You Need to Know
- Hims & Hers Stock Falls on DexCom Fears: Analysts Predict Rally
Receive News & Ratings for DiamondRock Hospitality Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for DiamondRock Hospitality and related companies with MarketBeat.com's FREE daily email newsletter.