Zacks: CorePoint Lodging Inc (NYSE:CPLG) Receives Consensus Rating of “Strong Sell” from Analysts

Shares of CorePoint Lodging Inc (NYSE:CPLG) have been given an average broker rating score of 5.00 (Strong Sell) from the one analysts that provide coverage for the company, Zacks Investment Research reports. One investment analyst has rated the stock with a strong sell recommendation. CorePoint Lodging’s rating score has declined by 66.7% from three months ago as a result of a number of analysts’ ratings changes.

Analysts have set a twelve-month consensus target price of $6.00 for the company and are expecting that the company will post $0.43 earnings per share for the current quarter, according to Zacks. Zacks has also given CorePoint Lodging an industry rank of 105 out of 256 based on the ratings given to its competitors.

Several equities research analysts have recently issued reports on CPLG shares. JPMorgan Chase & Co. lowered CorePoint Lodging from a “neutral” rating to an “underweight” rating and decreased their target price for the company from $13.00 to $11.00 in a research report on Tuesday, July 9th. ValuEngine raised CorePoint Lodging from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st. Finally, Zacks Investment Research raised CorePoint Lodging from a “sell” rating to a “hold” rating in a research report on Friday.

Institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in CorePoint Lodging by 9.4% in the 2nd quarter. Vanguard Group Inc. now owns 6,611,680 shares of the company’s stock worth $81,918,000 after acquiring an additional 569,063 shares during the last quarter. BlackRock Inc. increased its holdings in CorePoint Lodging by 7.2% in the 2nd quarter. BlackRock Inc. now owns 3,317,238 shares of the company’s stock worth $41,100,000 after acquiring an additional 221,841 shares during the last quarter. Donald Smith & CO. Inc. purchased a new stake in CorePoint Lodging in the 1st quarter worth about $33,510,000. Charles Schwab Investment Management Inc. increased its holdings in CorePoint Lodging by 11.4% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 771,262 shares of the company’s stock worth $9,556,000 after acquiring an additional 78,980 shares during the last quarter. Finally, Northern Trust Corp increased its holdings in CorePoint Lodging by 2.6% in the 2nd quarter. Northern Trust Corp now owns 560,409 shares of the company’s stock worth $6,943,000 after acquiring an additional 14,112 shares during the last quarter. 86.97% of the stock is owned by hedge funds and other institutional investors.

Shares of CorePoint Lodging stock traded up $0.15 during trading hours on Wednesday, hitting $10.49. 585,407 shares of the company’s stock traded hands, compared to its average volume of 307,425. CorePoint Lodging has a 12-month low of $7.25 and a 12-month high of $20.48. The stock has a market capitalization of $599.05 million, a price-to-earnings ratio of 5.09 and a beta of 0.95. The company has a fifty day simple moving average of $9.98 and a 200-day simple moving average of $11.96.

CorePoint Lodging (NYSE:CPLG) last announced its earnings results on Tuesday, August 13th. The company reported ($0.32) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.67). CorePoint Lodging had a negative net margin of 28.49% and a negative return on equity of 6.95%. The business had revenue of $219.00 million for the quarter, compared to analysts’ expectations of $226.19 million. Sell-side analysts anticipate that CorePoint Lodging will post 1.59 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 7.63%. The ex-dividend date is Friday, September 27th. CorePoint Lodging’s dividend payout ratio is presently 38.83%.

About CorePoint Lodging

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.

Recommended Story: What are economic reports?

Get a free copy of the Zacks research report on CorePoint Lodging (CPLG)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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.