Ryman Hospitality Properties (NYSE:RHP) Updates FY24 Earnings Guidance

Ryman Hospitality Properties (NYSE:RHP) updated its FY24 earnings guidance on Monday. The company provided EPS guidance of $8.39-$8.68 for the period, compared to the consensus EPS estimate of $8.22. Ryman Hospitality Properties also updated its FY 2024 guidance to 8.390-8.680 EPS.

Ryman Hospitality Properties Stock Performance

RHP traded down $1.64 on Thursday, reaching $111.40. The company had a trading volume of 241,223 shares, compared to its average volume of 454,777. The stock has a 50-day moving average price of $107.09 and a 200-day moving average price of $103.88. The stock has a market capitalization of $6.67 billion, a PE ratio of 20.08, a P/E/G ratio of 2.08 and a beta of 1.65. Ryman Hospitality Properties has a 1 year low of $90.80 and a 1 year high of $122.91. The company has a quick ratio of 1.92, a current ratio of 1.92 and a debt-to-equity ratio of 5.96.

Ryman Hospitality Properties (NYSE:RHP) last announced its earnings results on Monday, November 4th. The real estate investment trust reported $0.94 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.83 by ($0.89). Ryman Hospitality Properties had a net margin of 14.84% and a return on equity of 61.88%. The firm had revenue of $549.90 million during the quarter, compared to analyst estimates of $545.93 million. During the same period last year, the company earned $1.73 earnings per share. The firm’s revenue for the quarter was up 4.0% compared to the same quarter last year. As a group, research analysts forecast that Ryman Hospitality Properties will post 8.38 EPS for the current fiscal year.

Ryman Hospitality Properties Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be given a $1.15 dividend. This is an increase from Ryman Hospitality Properties’s previous quarterly dividend of $1.10. The ex-dividend date is Tuesday, December 31st. This represents a $4.60 annualized dividend and a yield of 4.13%. Ryman Hospitality Properties’s dividend payout ratio is 78.15%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. Jefferies Financial Group initiated coverage on shares of Ryman Hospitality Properties in a research note on Wednesday. They set a “buy” rating and a $130.00 target price for the company. JPMorgan Chase & Co. increased their price objective on Ryman Hospitality Properties from $104.00 to $105.00 and gave the stock a “neutral” rating in a research report on Friday, August 2nd. Wells Fargo & Company dropped their target price on Ryman Hospitality Properties from $127.00 to $115.00 and set an “overweight” rating on the stock in a report on Friday, September 13th. Finally, StockNews.com upgraded Ryman Hospitality Properties from a “sell” rating to a “hold” rating in a research note on Friday, August 9th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $125.17.

Insider Activity at Ryman Hospitality Properties

In other news, Director Alvin L. Bowles, Jr. sold 900 shares of the company’s stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $107.32, for a total transaction of $96,588.00. Following the transaction, the director now directly owns 3,148 shares of the company’s stock, valued at $337,843.36. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 3.00% of the company’s stock.

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.