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

Ryman Hospitality Properties (NYSE:RHP) released its earnings results on Monday. The real estate investment trust reported $0.94 earnings per share for the quarter, missing the consensus estimate of $1.83 by ($0.89), Zacks reports. Ryman Hospitality Properties had a net margin of 14.21% and a return on equity of 60.97%. The company had revenue of $549.90 million for the quarter, compared to the consensus estimate of $545.93 million. During the same period in the prior year, the firm posted $1.73 EPS. The business’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 Stock Performance

Shares of RHP stock opened at $108.92 on Tuesday. The business has a 50-day simple moving average of $106.77 and a 200-day simple moving average of $103.79. The company has a quick ratio of 1.92, a current ratio of 1.92 and a debt-to-equity ratio of 5.96. The stock has a market cap of $6.52 billion, a PE ratio of 20.44, a price-to-earnings-growth ratio of 2.05 and a beta of 1.65. Ryman Hospitality Properties has a 52-week low of $88.14 and a 52-week high of $122.91.

Ryman Hospitality Properties Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were issued a $1.10 dividend. This represents a $4.40 annualized dividend and a yield of 4.04%. The ex-dividend date was Monday, September 30th. Ryman Hospitality Properties’s payout ratio is 82.55%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on RHP shares. StockNews.com raised Ryman Hospitality Properties from a “sell” rating to a “hold” rating in a research note on Friday, August 9th. JPMorgan Chase & Co. boosted their target price on shares of Ryman Hospitality Properties from $104.00 to $105.00 and gave the company a “neutral” rating in a research note on Friday, August 2nd. Finally, Wells Fargo & Company decreased their price objective on shares of Ryman Hospitality Properties from $127.00 to $115.00 and set an “overweight” rating for the company in a report on Friday, September 13th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, Ryman Hospitality Properties presently has a consensus rating of “Moderate Buy” and a consensus price target of $124.20.

Insider Buying and Selling at Ryman Hospitality Properties

In related news, Director Alvin L. Bowles, Jr. sold 900 shares of the firm’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 sale, the director now 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.00% of the stock is currently owned by corporate insiders.

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.