Summit Hotel Properties (INN) Releases FY18 Earnings Guidance
Summit Hotel Properties (NYSE:INN) updated its FY18 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $1.33-1.45 for the period, compared to the Thomson Reuters consensus estimate of $1.46. Summit Hotel Properties also updated its Q1 guidance to $0.28-0.31 EPS.
Several research analysts have recently commented on the company. Zacks Investment Research downgraded Summit Hotel Properties from a hold rating to a sell rating in a report on Thursday, February 15th. Cantor Fitzgerald reissued a buy rating and issued a $17.00 target price on shares of Summit Hotel Properties in a report on Monday, November 20th. Janney Montgomery Scott downgraded Summit Hotel Properties from a buy rating to a neutral rating in a report on Monday, November 20th. Raymond James Financial raised Summit Hotel Properties from a market perform rating to an outperform rating and set a $17.50 target price on the stock in a report on Monday, October 30th. Finally, KeyCorp set a $17.00 target price on Summit Hotel Properties and gave the stock a buy rating in a report on Sunday, October 29th. Three analysts have rated the stock with a sell rating, two have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of Hold and a consensus price target of $17.50.
Summit Hotel Properties (NYSE:INN) traded down $0.30 during trading hours on Wednesday, reaching $13.89. The company’s stock had a trading volume of 747,386 shares, compared to its average volume of 772,722. Summit Hotel Properties has a 12-month low of $13.86 and a 12-month high of $19.39. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.61 and a current ratio of 1.61. The firm has a market cap of $1,504.71, a P/E ratio of 16.94, a price-to-earnings-growth ratio of 2.18 and a beta of 1.22.
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About Summit Hotel Properties
Summit Hotel Properties, Inc is a real estate investment trust (REIT). The Company is focused primarily on owning premium-branded, select-service hotels in the Upscale segment of the United States lodging industry. The Company’s portfolio consists of 83 hotels with a total of 12,242 guestrooms located in 26 states.
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