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 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 -.

DiamondRock Hospitality Stock Performance

NYSE DRH remained flat at $8.09 on Friday. 4,483,656 shares of the company were exchanged, compared to its average volume of 2,103,640. The stock has a market capitalization 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 company’s 50 day moving average price is $8.33 and its 200-day moving average price is $8.88. DiamondRock Hospitality has a twelve month low of $7.33 and a twelve month high of $9.99. The company has a debt-to-equity ratio of 0.71, a quick ratio of 2.04 and a current ratio of 2.04.

DiamondRock Hospitality Announces Dividend

The company also recently disclosed 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 of this dividend was Friday, June 28th. This represents a $0.12 annualized dividend and a yield of 1.48%. DiamondRock Hospitality’s dividend payout ratio is 33.33%.

Analysts Set New Price Targets

Separately, StockNews.com cut shares of DiamondRock Hospitality from a hold rating to a sell rating in a research note on Friday. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat, DiamondRock Hospitality has a consensus rating of Hold and a consensus price target 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.