Choice Hotels International Inc. (NYSE:CHH) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Tuesday.
According to Zacks, “Choice Hotels Int’l. is one of the largest hotel franchise companies in the world with hotels, inns, all-suite hotels and resorts open and under development in countries across the globe under the brand names Comfort, Quality, Clarion, Sleep Inn, Rodeway Inn, Econo Lodge and MainStay Suites. “
A number of other equities research analysts have also weighed in on CHH. Deutsche Bank AG reaffirmed a “hold” rating on shares of Choice Hotels International in a research report on Sunday, June 26th. Morgan Stanley raised Choice Hotels International from an “underweight” rating to an “equal weight” rating and set a $47.00 target price for the company in a research report on Monday, September 26th. Wolfe Research assumed coverage on Choice Hotels International in a research report on Wednesday, July 6th. They set a “market perform” rating for the company. Finally, Bank of America Corp. reaffirmed a “buy” rating on shares of Choice Hotels International in a research report on Monday, July 18th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $48.78.
Choice Hotels International (NYSE:CHH) opened at 44.92 on Tuesday. The company has a market capitalization of $2.50 billion, a P/E ratio of 19.61 and a beta of 1.17. The stock’s 50 day moving average price is $47.33 and its 200-day moving average price is $48.41. Choice Hotels International has a one year low of $40.78 and a one year high of $54.66.
Choice Hotels International (NYSE:CHH) last issued its quarterly earnings results on Tuesday, August 2nd. The company reported $0.68 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.67 by $0.01. Choice Hotels International had a negative return on equity of 33.53% and a net margin of 14.32%. The firm earned $241.80 million during the quarter, compared to analyst estimates of $244.21 million. During the same period last year, the company earned $0.62 EPS. Choice Hotels International’s quarterly revenue was up 4.1% compared to the same quarter last year. Equities analysts forecast that Choice Hotels International will post $2.40 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 17th. Stockholders of record on Monday, October 3rd will be issued a $0.205 dividend. The ex-dividend date of this dividend is Thursday, September 29th. This represents a $0.82 dividend on an annualized basis and a dividend yield of 1.83%. Choice Hotels International’s dividend payout ratio is presently 36.28%.
In other news, CEO Stephen P. Joyce sold 32,000 shares of Choice Hotels International stock in a transaction on Wednesday, September 28th. The stock was sold at an average price of $45.09, for a total value of $1,442,880.00. Following the transaction, the chief executive officer now directly owns 180,548 shares in the company, valued at approximately $8,140,909.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Patrick Pacious sold 4,745 shares of the business’s stock in a transaction on Friday, August 12th. The stock was sold at an average price of $48.73, for a total value of $231,223.85. Following the transaction, the chief operating officer now owns 113,062 shares in the company, valued at $5,509,511.26. The disclosure for this sale can be found here. 22.30% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Legal & General Group Plc increased its position in shares of Choice Hotels International by 3.9% in the first quarter. Legal & General Group Plc now owns 2,391 shares of the company’s stock valued at $129,000 after buying an additional 90 shares during the period. Fuller & Thaler Asset Management Inc. acquired a new position in shares of Choice Hotels International during the second quarter valued at $119,000. Glenmede Trust Co. NA increased its position in shares of Choice Hotels International by 1.2% in the second quarter. Glenmede Trust Co. NA now owns 3,440 shares of the company’s stock valued at $162,000 after buying an additional 40 shares during the period. BlackRock Inc. increased its position in shares of Choice Hotels International by 323.4% in the first quarter. BlackRock Inc. now owns 4,331 shares of the company’s stock valued at $234,000 after buying an additional 3,308 shares during the period. Finally, Pacer Advisors Inc. acquired a new position in shares of Choice Hotels International during the second quarter valued at $218,000. Hedge funds and other institutional investors own 49.90% of the company’s stock.
Choice Hotels International Company Profile
Choice Hotels International, Inc (Choice) is a hotel franchisor. The Company operates in two segments: hotel franchising business and SkyTouch Technology (SkyTouch). It operates approximately 6,420 hotels open and over 720 hotels under construction, representing approximately 507,480 rooms open and over 58,130 rooms under construction, awaiting conversion or approved for development in approximately 50 states, the District of Columbia and over 35 countries and territories outside the United States.
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