Brokerages predict that Braemar Hotels & Resorts (NYSE:BHR) will announce $124.63 million in sales for the current quarter, Zacks Investment Research reports. Five analysts have made estimates for Braemar Hotels & Resorts’ earnings, with the highest sales estimate coming in at $129.81 million and the lowest estimate coming in at $121.86 million. Braemar Hotels & Resorts posted sales of $121.12 million in the same quarter last year, which would suggest a positive year over year growth rate of 2.9%. The company is expected to announce its next earnings results after the market closes on Wednesday, July 31st.
According to Zacks, analysts expect that Braemar Hotels & Resorts will report full-year sales of $486.48 million for the current financial year, with estimates ranging from $474.34 million to $503.86 million. For the next financial year, analysts expect that the business will post sales of $513.65 million, with estimates ranging from $484.43 million to $562.00 million. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Braemar Hotels & Resorts.
Braemar Hotels & Resorts (NYSE:BHR) last released its quarterly earnings results on Wednesday, May 1st. The company reported ($0.11) EPS for the quarter, missing the Zacks’ consensus estimate of $0.38 by ($0.49). The business had revenue of $128.51 million for the quarter, compared to analyst estimates of $120.97 million. Braemar Hotels & Resorts had a negative return on equity of 0.97% and a negative net margin of 0.80%.
Several research firms have weighed in on BHR. ValuEngine lowered Braemar Hotels & Resorts from a “hold” rating to a “sell” rating in a research report on Monday, June 24th. Zacks Investment Research downgraded Braemar Hotels & Resorts from a “buy” rating to a “hold” rating in a research note on Thursday, May 16th. Finally, B. Riley cut Braemar Hotels & Resorts from a “buy” rating to a “neutral” rating and set a $14.00 price objective for the company. in a report on Wednesday, May 1st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $14.75.
A number of large investors have recently made changes to their positions in the business. Martingale Asset Management L P increased its stake in shares of Braemar Hotels & Resorts by 15.4% during the first quarter. Martingale Asset Management L P now owns 172,100 shares of the company’s stock worth $2,103,000 after purchasing an additional 23,000 shares in the last quarter. Hancock Whitney Corp purchased a new stake in shares of Braemar Hotels & Resorts in the 4th quarter valued at approximately $145,000. Mackay Shields LLC raised its stake in shares of Braemar Hotels & Resorts by 10.6% in the 4th quarter. Mackay Shields LLC now owns 110,693 shares of the company’s stock valued at $989,000 after acquiring an additional 10,593 shares during the period. United Services Automobile Association increased its stake in Braemar Hotels & Resorts by 37.6% during the 4th quarter. United Services Automobile Association now owns 259,060 shares of the company’s stock worth $2,313,000 after buying an additional 70,823 shares during the period. Finally, California Public Employees Retirement System increased its stake in Braemar Hotels & Resorts by 3.2% during the 4th quarter. California Public Employees Retirement System now owns 90,478 shares of the company’s stock worth $808,000 after buying an additional 2,797 shares during the period. Institutional investors and hedge funds own 74.07% of the company’s stock.
Shares of Braemar Hotels & Resorts stock opened at $9.51 on Thursday. The company has a 50 day moving average price of $10.55. Braemar Hotels & Resorts has a 52-week low of $8.32 and a 52-week high of $14.03. The firm has a market cap of $312.72 million, a price-to-earnings ratio of 6.38 and a beta of 1.15. The company has a debt-to-equity ratio of 2.96, a quick ratio of 2.75 and a current ratio of 2.75.
The company also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be issued a $0.16 dividend. The ex-dividend date is Thursday, June 27th. This represents a $0.64 annualized dividend and a yield of 6.73%. Braemar Hotels & Resorts’s payout ratio is currently 41.29%.
Braemar Hotels & Resorts Company Profile
Braemar Hotels & Resorts is a conservatively capitalized REIT that invests primarily in high RevPAR, full-service luxury hotels and resorts. We are listed on the New York Stock Exchange under the symbol BHR and are externally-advised by Ashford (NYSE American: AINC).
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