Choice Hotels International Inc. (NYSE:CHH) was upgraded by Morgan Stanley from an “underweight” rating to an “equal weight” rating in a report released on Monday.
Several other research analysts have also weighed in on CHH. Zacks Investment Research raised Choice Hotels International from a “sell” rating to a “hold” rating in a research report on Monday, July 11th. JPMorgan Chase & Co. lowered Choice Hotels International from a “neutral” rating to an “underweight” rating and set a $43.00 target price on the stock. in a research report on Wednesday, June 1st. Wolfe Research began coverage on Choice Hotels International in a research report on Wednesday, July 6th. They issued a “market perform” rating on the stock. Deutsche Bank AG reaffirmed a “hold” rating on shares of Choice Hotels International in a research report on Sunday, June 26th. Finally, Bank of America Corp. reaffirmed a “buy” rating on shares of Choice Hotels International in a research report on Monday, July 18th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $48.89.
Shares of Choice Hotels International (NYSE:CHH) opened at 46.58 on Monday. The stock has a market capitalization of $2.59 billion, a P/E ratio of 20.33 and a beta of 1.10. Choice Hotels International has a one year low of $40.78 and a one year high of $54.66. The firm’s 50-day moving average price is $48.30 and its 200-day moving average price is $48.82.
Choice Hotels International (NYSE:CHH) last issued its quarterly earnings results on Tuesday, August 2nd. The company reported $0.68 earnings per share for the quarter, topping analysts’ consensus estimates 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 company had revenue of $241.80 million for the quarter, compared to analyst estimates of $244.21 million. During the same quarter in the prior year, the company posted $0.62 EPS. The business’s revenue for the quarter was up 4.1% compared to the same quarter last year. Equities research analysts anticipate that Choice Hotels International will post $2.41 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 17th. Stockholders of record on Monday, October 3rd will be paid a dividend of $0.205 per share. The ex-dividend date of this dividend is Thursday, September 29th. This represents a $0.82 annualized dividend and a dividend yield of 1.76%. Choice Hotels International’s dividend payout ratio is presently 36.28%.
In other news, insider Patrick Cimerola sold 13,515 shares of the firm’s stock in a transaction dated Friday, September 2nd. The stock was sold at an average price of $48.21, for a total transaction of $651,558.15. Following the completion of the sale, the insider now directly owns 50,882 shares in the company, valued at $2,453,021.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Patrick Pacious sold 4,745 shares of the firm’s stock in a transaction dated Friday, August 12th. The shares were sold at an average price of $48.73, for a total value of $231,223.85. Following the sale, the chief operating officer now owns 113,062 shares of the company’s stock, valued at $5,509,511.26. The disclosure for this sale can be found here. Insiders own 22.30% of the company’s stock.
Several hedge funds have recently made changes to their positions in CHH. Royal Bank of Canada increased its stake in shares of Choice Hotels International by 386.5% in the first quarter. Royal Bank of Canada now owns 11,924 shares of the company’s stock valued at $645,000 after buying an additional 9,473 shares in the last quarter. Legal & General Group Plc increased its position in Choice Hotels International by 3.9% in the first quarter. Legal & General Group Plc now owns 2,391 shares of the company’s stock worth $129,000 after buying an additional 90 shares during the period. Renaissance Technologies LLC increased its position in Choice Hotels International by 19.6% in the first quarter. Renaissance Technologies LLC now owns 48,900 shares of the company’s stock worth $2,643,000 after buying an additional 8,000 shares during the period. Wellington Management Group LLP increased its position in Choice Hotels International by 11.4% in the first quarter. Wellington Management Group LLP now owns 1,767,296 shares of the company’s stock worth $95,522,000 after buying an additional 180,342 shares during the period. Finally, Goldman Sachs Group Inc. increased its position in Choice Hotels International by 7.0% in the first quarter. Goldman Sachs Group Inc. now owns 76,799 shares of the company’s stock worth $4,151,000 after buying an additional 5,015 shares during the period. 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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