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

Ryman Hospitality Properties (NYSE:RHP) updated its FY 2024 earnings guidance on Monday. 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.

Analysts Set New Price Targets

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

Ryman Hospitality Properties Price Performance

RHP stock traded up $5.50 on Wednesday, reaching $113.80. The company had a trading volume of 413,460 shares, compared to its average volume of 453,276. Ryman Hospitality Properties has a 1 year low of $88.14 and a 1 year high of $122.91. The company has a debt-to-equity ratio of 5.96, a quick ratio of 1.92 and a current ratio of 1.92. The company’s fifty day moving average is $106.88 and its 200 day moving average is $103.82. The company has a market cap of $6.82 billion, a P/E ratio of 20.33, a PEG ratio of 2.05 and a beta of 1.65.

Ryman Hospitality Properties (NYSE:RHP) last issued its quarterly earnings results on Monday, November 4th. The real estate investment trust reported $0.94 earnings per share for the quarter, missing the consensus estimate of $1.83 by ($0.89). The business had revenue of $549.90 million during the quarter, compared to analyst estimates of $545.93 million. Ryman Hospitality Properties had a net margin of 14.21% and a return on equity of 60.97%. The company’s revenue was up 4.0% on a year-over-year basis. During the same quarter last year, the firm posted $1.73 earnings per share. On average, research analysts forecast that Ryman Hospitality Properties will post 8.38 earnings per share for the current year.

Ryman Hospitality Properties Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be issued a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a dividend yield of 4.04%. This is an increase from Ryman Hospitality Properties’s previous quarterly dividend of $1.10. The ex-dividend date is Tuesday, December 31st. Ryman Hospitality Properties’s dividend payout ratio is presently 82.55%.

Insider Buying and Selling

In related news, Director Alvin L. Bowles, Jr. sold 900 shares of the company’s stock in a transaction 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 completion of the sale, the director now directly owns 3,148 shares of the company’s stock, valued at approximately $337,843.36. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 3.00% of the stock is owned by corporate 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.