Ryman Hospitality Properties (NYSE:RHP) Updates FY 2024 Earnings Guidance

Ryman Hospitality Properties (NYSE:RHP) issued an update on its FY 2024 earnings guidance on Monday morning. The company provided EPS guidance of 8.390-8.680 for the period, compared to the consensus EPS estimate of 8.370. The company issued revenue guidance of -. Ryman Hospitality Properties also updated its FY24 guidance to $8.39-$8.68 EPS.

Wall Street Analyst Weigh In

RHP has been the subject of several recent research reports. StockNews.com raised shares of Ryman Hospitality Properties from a “sell” rating to a “hold” rating in a research report on Friday, August 9th. Wells Fargo & Company decreased their price objective on Ryman Hospitality Properties from $127.00 to $115.00 and set an “overweight” rating for the company in a report on Friday, September 13th. JPMorgan Chase & Co. raised their target price on Ryman Hospitality Properties from $104.00 to $105.00 and gave the company a “neutral” rating in a report on Friday, August 2nd. Finally, Jefferies Financial Group initiated coverage on Ryman Hospitality Properties in a report on Wednesday. They set a “buy” rating and a $130.00 price target for the company. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $125.17.

Ryman Hospitality Properties Stock Performance

Ryman Hospitality Properties stock traded down $2.84 during mid-day trading on Thursday, reaching $110.20. 302,089 shares of the company’s stock were exchanged, compared to its average volume of 455,059. The business’s fifty day simple moving average is $107.09 and its 200 day simple moving average is $103.88. 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 one year low of $90.80 and a one year high of $122.91. The firm has a market capitalization of $6.60 billion, a PE ratio of 20.08, a P/E/G ratio of 2.08 and a beta of 1.65.

Ryman Hospitality Properties (NYSE:RHP) last released its earnings results on Monday, November 4th. The real estate investment trust reported $0.94 EPS for the quarter, missing analysts’ consensus estimates of $1.83 by ($0.89). The business had revenue of $549.90 million for the quarter, compared to the consensus estimate of $545.93 million. Ryman Hospitality Properties had a return on equity of 61.88% and a net margin of 14.84%. The company’s revenue for the quarter was up 4.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.73 earnings per share. On average, sell-side analysts expect that Ryman Hospitality Properties will post 8.38 earnings per share for the current year.

Ryman Hospitality Properties Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be paid a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a yield of 4.17%. This is a boost from Ryman Hospitality Properties’s previous quarterly dividend of $1.10. The ex-dividend date of this dividend is Tuesday, December 31st. Ryman Hospitality Properties’s payout ratio is presently 78.15%.

Insider Transactions at Ryman Hospitality Properties

In related news, Director Alvin L. Bowles, Jr. sold 900 shares of the company’s stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $107.32, for a total value of $96,588.00. Following the transaction, the director now owns 3,148 shares in the company, valued at approximately $337,843.36. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 3.00% of the stock is currently owned by company insiders.

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.