Ryman Hospitality Properties (NYSE:RHP) Issues FY24 Earnings Guidance

Ryman Hospitality Properties (NYSE:RHP) issued an update on its FY24 earnings guidance on Monday morning. The company provided earnings per share guidance of $8.39-$8.68 for the period, compared to the consensus earnings per share estimate of $8.22. Ryman Hospitality Properties also updated its FY 2024 guidance to 8.390-8.680 EPS.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on RHP shares. Wells Fargo & Company decreased their price objective on Ryman Hospitality Properties from $127.00 to $115.00 and set an “overweight” rating on the stock in a report on Friday, September 13th. JPMorgan Chase & Co. increased their price objective on shares of Ryman Hospitality Properties from $104.00 to $105.00 and gave the stock a “neutral” rating in a report on Friday, August 2nd. Jefferies Financial Group began coverage on shares of Ryman Hospitality Properties in a report on Wednesday. They issued a “buy” rating and a $130.00 target price for the company. Finally, StockNews.com raised shares of Ryman Hospitality Properties from a “sell” rating to a “hold” rating in a research note on Friday, August 9th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $125.17.

Ryman Hospitality Properties Trading Down 1.5 %

RHP stock traded down $1.64 during midday trading on Thursday, reaching $111.40. 241,223 shares of the company’s stock traded hands, compared to its average volume of 454,777. The company has a debt-to-equity ratio of 5.96, a current ratio of 1.92 and a quick ratio of 1.92. Ryman Hospitality Properties has a fifty-two week low of $90.80 and a fifty-two week high of $122.91. The business has a 50-day moving average price of $107.09 and a two-hundred day moving average price of $103.88. The company has a market capitalization of $6.67 billion, a P/E ratio of 20.08, a PEG ratio of 2.08 and a beta of 1.65.

Ryman Hospitality Properties (NYSE:RHP) last posted its earnings results on Monday, November 4th. The real estate investment trust reported $0.94 earnings per share for the quarter, missing the consensus estimate of $1.83 by ($0.89). Ryman Hospitality Properties had a net margin of 14.84% and a return on equity of 61.88%. The business had revenue of $549.90 million for the quarter, compared to analyst estimates of $545.93 million. During the same quarter in the previous year, the firm posted $1.73 EPS. The business’s revenue was up 4.0% compared to the same quarter last year. Equities research analysts forecast that Ryman Hospitality Properties will post 8.38 EPS for the current fiscal year.

Ryman Hospitality Properties Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be given a $1.15 dividend. This is an increase from Ryman Hospitality Properties’s previous quarterly dividend of $1.10. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $4.60 annualized dividend and a dividend yield of 4.13%. Ryman Hospitality Properties’s dividend payout ratio is presently 78.15%.

Insider Activity at Ryman Hospitality Properties

In other news, Director Alvin L. Bowles, Jr. sold 900 shares of the company’s stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $107.32, for a total value of $96,588.00. Following the completion of the transaction, the director now directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 3.00% of the company’s stock.

About Ryman Hospitality Properties

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.