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

Summit Hotel Properties

02/11/2023 11:11

* Summit Hotel Properties Inc  INN.N  reported a quarterly
adjusted loss of 5 cents​​ per share for the quarter ended in
September, lower than the same quarter last year, when the
company reported breakeven earnings per share.  The mean
expectation of three analysts for the quarter was for a loss
of 5 cents per share. Wall Street expected results to range from
-10 cents to 4 cents per share.
    * Revenue rose 2% to $181.82 million from a year ago;
analysts
expected $180.86 million. 
    * Summit Hotel Properties Inc's reported EPS for the quarter
was a
loss of 5 cents​.
    * The company reported a quarterly loss of $5.44 million.
    * Summit Hotel Properties Inc shares had fallen by 4.7% this
quarter and lost 23.4% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 5.4%
in the last three months.​ 
    * In the last 30 days, one analyst negatively revised an
earnings
estimate

RECOMMENDATIONS
    * The current average analyst rating on the shares is "hold"
and
the breakdown of recommendations is 2 "strong buy" or "buy," 2
"hold" and 1 "sell" or "strong sell." 
    * Wall Street's median 12-month price target for Summit
Hotel
Properties Inc is $8.00 

This summary was machine generated from LSEG data November 2 at
11:11 a.m. UTC. ​All figures in US dollars unless otherwise
stated. QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Sep. 30 2023      0.17           0.22           Beat
 Jun. 30 2023      0.25           0.27           Beat
 Mar. 31 2023      0.21           0.22           Beat
 Dec. 31 2022      0.21           0.25           Beat