Ryman Hospitality Properties (NYSE:RHP) Issues Earnings Results, Misses Estimates By $0.89 EPS

Ryman Hospitality Properties (NYSE:RHP) issued its quarterly earnings data on Monday. The real estate investment trust reported $0.94 EPS for the quarter, missing the consensus estimate of $1.83 by ($0.89), Zacks reports. The company had revenue of $549.90 million during the quarter, compared to the consensus estimate of $545.93 million. Ryman Hospitality Properties had a net margin of 14.21% and a return on equity of 60.97%. Ryman Hospitality Properties’s revenue for the quarter was up 4.0% on a year-over-year basis. During the same period in the previous year, the company earned $1.73 EPS. Ryman Hospitality Properties updated its FY24 guidance to $8.39-$8.68 EPS and its FY 2024 guidance to 8.390-8.680 EPS.

Ryman Hospitality Properties Trading Up 4.4 %

Shares of NYSE:RHP traded up $4.74 during trading on Wednesday, reaching $113.04. The stock had a trading volume of 949,574 shares, compared to its average volume of 455,771. Ryman Hospitality Properties has a 52 week low of $88.14 and a 52 week high of $122.91. The firm’s fifty day moving average is $106.88 and its 200 day moving average is $103.82. The stock has a market cap of $6.77 billion, a price-to-earnings ratio of 20.33, a P/E/G ratio of 2.05 and a beta of 1.65. The company has a debt-to-equity ratio of 5.96, a quick ratio of 1.92 and a current ratio of 1.92.

Ryman Hospitality Properties Increases Dividend

The company also recently declared 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. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $4.60 dividend on an annualized basis and a dividend yield of 4.07%. This is an increase from Ryman Hospitality Properties’s previous quarterly dividend of $1.10. Ryman Hospitality Properties’s payout ratio is 82.55%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on RHP shares. Wells Fargo & Company reduced their price objective on Ryman Hospitality Properties from $127.00 to $115.00 and set an “overweight” rating on the stock in a research report on Friday, September 13th. JPMorgan Chase & Co. boosted their price target on 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 initiated coverage on shares of Ryman Hospitality Properties in a report on Wednesday. They issued a “buy” rating and a $130.00 price objective for the company. Finally, StockNews.com raised shares of Ryman Hospitality Properties from a “sell” rating to a “hold” rating in a report 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. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $125.17.

Insider Activity at Ryman Hospitality Properties

In other news, Director Alvin L. Bowles, Jr. sold 900 shares of Ryman Hospitality Properties stock in a transaction dated Thursday, September 19th. The stock was 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 of the company’s stock, valued at approximately $337,843.36. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 3.00% of the stock is owned by company insiders.

Ryman Hospitality Properties Company Profile

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.