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

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

DiamondRock Hospitality Price Performance

Shares of NYSE DRH remained flat at $8.09 during midday trading on Friday. 4,483,656 shares of the company’s stock were exchanged, compared to its average volume of 2,103,640. The company’s 50 day moving average price is $8.33 and its 200-day moving average price is $8.88. The stock has a market capitalization of $1.70 billion, a PE ratio of 22.47, a P/E/G ratio of 4.75 and a beta of 1.60. DiamondRock Hospitality has a 12-month low of $7.33 and a 12-month high of $9.99. The company has a current ratio of 2.04, a quick ratio of 2.04 and a debt-to-equity ratio of 0.71.

DiamondRock Hospitality Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, July 12th. Shareholders of record on Friday, June 28th were paid 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 payout ratio is presently 33.33%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered shares of DiamondRock Hospitality from a hold rating to a sell rating in a report on Friday. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, DiamondRock Hospitality currently has an average rating of Hold and an average target price 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.