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

Ryman Hospitality Properties (NYSE:RHP) posted its quarterly earnings results on Monday. The real estate investment trust reported $0.94 earnings per share (EPS) 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 business had revenue of $549.90 million during the quarter, compared to analyst estimates of $545.93 million. During the same period in the previous year, the business 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

RHP stock traded up $4.74 during midday trading on Wednesday, hitting $113.04. The company’s stock had a trading volume of 949,574 shares, compared to its average volume of 455,771. The stock has a market cap of $6.77 billion, a price-to-earnings ratio of 20.33, a PEG ratio of 2.05 and a beta of 1.65. 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’s 50-day moving average price is $106.88 and its 200 day moving average price is $103.82. Ryman Hospitality Properties has a 1 year low of $88.14 and a 1 year high of $122.91.

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 dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a dividend yield of 4.07%. This is an increase from Ryman Hospitality Properties’s previous quarterly dividend of $1.10. The ex-dividend date is Tuesday, December 31st. Ryman Hospitality Properties’s dividend payout ratio (DPR) is presently 82.55%.

Insider Activity

In related news, Director Alvin L. Bowles, Jr. sold 900 shares of the stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $107.32, for a total transaction of $96,588.00. Following the completion of the transaction, the director now owns 3,148 shares in the company, valued at approximately $337,843.36. This 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 link. Insiders own 3.00% of the company’s stock.

Wall Street Analyst Weigh In

RHP has been the subject of a number of analyst reports. JPMorgan Chase & Co. lifted their price objective on shares of Ryman Hospitality Properties from $104.00 to $105.00 and gave the company a “neutral” rating in a report on Friday, August 2nd. StockNews.com upgraded Ryman Hospitality Properties from a “sell” rating to a “hold” rating in a research note on Friday, August 9th. Jefferies Financial Group initiated coverage on Ryman Hospitality Properties in a report on Wednesday. They issued a “buy” rating and a $130.00 target price on the stock. Finally, Wells Fargo & Company decreased their price target on 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 analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $125.17.

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.