Ryman Hospitality Properties (NYSE:RHP) Posts Quarterly Earnings Results, Misses Expectations By $0.89 EPS

Ryman Hospitality Properties (NYSE:RHP - Get Free Report) announced its quarterly earnings results on Monday. The real estate investment trust reported $0.94 EPS for the quarter, missing analysts' consensus estimates of $1.83 by ($0.89), Zacks reports. The business 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%. The firm's revenue was up 4.0% on a year-over-year basis. During the same period in the previous year, the business posted $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 Stock Down 0.5 %

RHP stock traded down $0.55 during trading on Tuesday, hitting $108.38. 779,094 shares of the company's stock traded hands, compared to its average volume of 453,463. The firm has a market capitalization of $6.49 billion, a P/E ratio of 20.33, a PEG ratio of 2.05 and a beta of 1.65. The business has a fifty day simple moving average of $106.88 and a two-hundred day simple moving average of $103.82. The company has a quick ratio of 1.92, a current ratio of 1.92 and a debt-to-equity ratio of 5.96. Ryman Hospitality Properties has a 1 year low of $88.14 and a 1 year high of $122.91.

Ryman Hospitality Properties Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were issued a dividend of $1.10 per share. This represents a $4.40 annualized dividend and a yield of 4.06%. The ex-dividend date of this dividend was Monday, September 30th. Ryman Hospitality Properties's payout ratio is 82.55%.

Insider Activity at Ryman Hospitality Properties

In related news, Director Alvin L. Bowles, Jr. sold 900 shares of Ryman Hospitality Properties stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $107.32, for a total transaction of $96,588.00. Following the transaction, the director now directly owns 3,148 shares of the company's stock, valued at $337,843.36. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 3.00% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages have issued reports on RHP. Wells Fargo & Company decreased their price objective on shares of Ryman Hospitality Properties from $127.00 to $115.00 and set an "overweight" rating for the company in a research note on Friday, September 13th. JPMorgan Chase & Co. raised their target price on shares of Ryman Hospitality Properties from $104.00 to $105.00 and gave the stock a "neutral" rating in a research report on Friday, August 2nd. Finally, StockNews.com raised shares of Ryman Hospitality Properties from a "sell" rating to a "hold" rating in a research report on Friday, August 9th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $124.20.

About Ryman Hospitality Properties

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.