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

Ryman Hospitality Properties (NYSE:RHP) issued its quarterly earnings results on Monday. The real estate investment trust reported $0.94 EPS for the quarter, missing the consensus estimate of $1.83 by ($0.89), Zacks reports. The company had revenue of $549.90 million during the quarter, compared to analysts’ expectations of $545.93 million. Ryman Hospitality Properties had a return on equity of 60.97% and a net margin of 14.21%. Ryman Hospitality Properties’s revenue was up 4.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.73 EPS. 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 Price Performance

RHP stock opened at $108.92 on Tuesday. Ryman Hospitality Properties has a 1 year low of $88.14 and a 1 year high of $122.91. The firm has a market capitalization 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. The company has a debt-to-equity ratio of 5.96, a current ratio of 1.92 and a quick ratio of 1.92. The business has a 50 day simple moving average of $106.77 and a 200-day simple moving average of $103.79.

Ryman Hospitality Properties Announces Dividend

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

Wall Street Analysts Forecast Growth

RHP has been the subject of a number of research reports. Wells Fargo & Company cut their target price on shares of Ryman Hospitality Properties from $127.00 to $115.00 and set an “overweight” rating for the company in a research note on Friday, September 13th. JPMorgan Chase & Co. increased their target price on Ryman Hospitality Properties from $104.00 to $105.00 and gave the company a “neutral” rating in a report on Friday, August 2nd. Finally, StockNews.com upgraded Ryman Hospitality Properties from a “sell” rating to a “hold” rating in a research report on Friday, August 9th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $124.20.

Insider Buying and Selling

In other Ryman Hospitality Properties news, Director Alvin L. Bowles, Jr. sold 900 shares of the company’s stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $107.32, for a total value of $96,588.00. Following the completion of the sale, the director now directly owns 3,148 shares in the company, valued at $337,843.36. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 3.00% of the stock is currently owned by company 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.