Summit Hotel Properties Inc reports results for the quarter ended in March - Earnings Summary

Summit Hotel Properties

02/05/2024 17:16

* Summit Hotel Properties Inc  INN.N  reported a quarterly
adjusted loss of 2 cents​​ per share for the quarter ended in
March, higher than the same quarter last year, when the company
reported EPS of -5 cents.  The mean expectation of two analysts
for the quarter was for a loss of 8 cents per share. Wall Street
expected results to range from -11 cents to -5 cents per share.
    * Revenue rose 3.2% to $188.14 million from a year ago;
analysts
expected $184.85 million. 
    * Summit Hotel Properties Inc's reported EPS for the quarter
was a
loss of 2 cents​.
    * The company reported a quarterly loss of $2.12 million.
    * Summit Hotel Properties Inc shares had fallen by 6.8% this
quarter and lost 9.7% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 1.7%
in the last three months.​ 
    * In the last 30 days, there have been no negative revisions
of
earnings estimates

RECOMMENDATIONS
    * The current average analyst rating on the shares is "hold"
and
the breakdown of recommendations is 2 "strong buy" or "buy," 3
"hold" and 1 "sell" or "strong sell." 
    * The average consensus recommendation for the specialized
reits
peer group is also "hold"

Wall Street's median 12-month price target for Summit Hotel
Properties Inc is $7.50 
This summary was machine generated from LSEG data May 2 at 04:16
p.m. UTC. ​All figures in US dollars unless otherwise stated.
(For questions concerning the data in this report, contact
Estimates.Support@lseg.com. For any other questions or feedback,
contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Mar. 31 2024      0.20           0.24           Beat
 Dec. 31 2023      0.20           0.22           Beat
 Sep. 30 2023      0.17           0.22           Beat
 Jun. 30 2023      0.25           0.27           Beat