CorePoint Lodging (CPLG) Shares Down 6.6% Following Weak Earnings
Shares of CorePoint Lodging Inc (NYSE:CPLG) traded down 6.6% during mid-day trading on Wednesday following a dissappointing earnings announcement. The stock traded as low as $12.77 and last traded at $12.90. 866,800 shares traded hands during mid-day trading, an increase of 67% from the average session volume of 519,443 shares. The stock had previously closed at $13.81.
The company reported ($0.47) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.31) by ($0.16). The firm had revenue of $208.00 million during the quarter, compared to analyst estimates of $202.35 million. CorePoint Lodging had a negative net margin of 29.30% and a negative return on equity of 6.91%.
The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Tuesday, April 2nd were given a $0.20 dividend. The ex-dividend date of this dividend was Monday, April 1st. This represents a $0.80 dividend on an annualized basis and a yield of 6.20%. CorePoint Lodging’s payout ratio is currently 38.83%.
Several hedge funds have recently bought and sold shares of the company. SEI Investments Co acquired a new stake in shares of CorePoint Lodging during the 1st quarter valued at approximately $76,000. Loomis Sayles & Co. L P lifted its position in shares of CorePoint Lodging by 72.6% during the 1st quarter. Loomis Sayles & Co. L P now owns 392,917 shares of the company’s stock valued at $4,389,000 after acquiring an additional 165,284 shares during the period. Geode Capital Management LLC lifted its position in shares of CorePoint Lodging by 9.7% during the 1st quarter. Geode Capital Management LLC now owns 601,512 shares of the company’s stock valued at $6,718,000 after acquiring an additional 52,939 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of CorePoint Lodging by 16.2% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 692,282 shares of the company’s stock valued at $7,733,000 after acquiring an additional 96,471 shares during the period. Finally, AQR Capital Management LLC lifted its position in shares of CorePoint Lodging by 266.2% during the 1st quarter. AQR Capital Management LLC now owns 199,926 shares of the company’s stock valued at $2,233,000 after acquiring an additional 145,338 shares during the period. Institutional investors own 97.17% of the company’s stock.
The stock has a market cap of $791.99 million and a PE ratio of 6.26.
CorePoint Lodging Company Profile (NYSE:CPLG)
CorePoint Lodging Inc, a real estate investment trust company, operates midscale and upper-midscale select-service hotels primarily under the La Quinta brand. As of March 21, 2019, it had a portfolio of 313 hotels and approximately 40,000 rooms across 41 states in the United States. CorePoint Lodging Inc is based in Irving, Texas.
Further Reading: Dow Jones Industrial Average (DJIA)
Receive News & Ratings for CorePoint Lodging Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CorePoint Lodging and related companies with MarketBeat.com's FREE daily email newsletter.