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

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

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut DiamondRock Hospitality from a hold rating to a sell rating in a report on Friday. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, DiamondRock Hospitality presently has a consensus rating of Hold and a consensus price target of $10.30.

DiamondRock Hospitality Stock Performance

DRH stock opened at $8.09 on Friday. 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 has a 12-month low of $7.33 and a 12-month high of $9.99. The stock has a market cap of $1.70 billion, a price-to-earnings ratio of 22.47, a PEG ratio of 4.75 and a beta of 1.60. The business’s 50-day moving average is $8.33 and its 200 day moving average is $8.88.

DiamondRock Hospitality Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, July 12th. Shareholders of record on Friday, June 28th were paid a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 1.48%. The ex-dividend date was Friday, June 28th. DiamondRock Hospitality’s dividend payout ratio (DPR) is 33.33%.

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.