Choice Hotels International, Inc. (NYSE:CHH) to Issue $0.24 Quarterly Dividend

Choice Hotels International, Inc. (NYSE:CHHGet Rating) announced a quarterly dividend on Friday, September 23rd, Wall Street Journal reports. Shareholders of record on Monday, October 3rd will be paid a dividend of 0.2375 per share on Friday, October 14th. This represents a $0.95 annualized dividend and a yield of 0.89%. The ex-dividend date of this dividend is Friday, September 30th.

Choice Hotels International has decreased its dividend payment by an average of 7.2% annually over the last three years and has raised its dividend annually for the last 1 consecutive years. Choice Hotels International has a dividend payout ratio of 16.4% indicating that its dividend is sufficiently covered by earnings. Analysts expect Choice Hotels International to earn $5.94 per share next year, which means the company should continue to be able to cover its $0.95 annual dividend with an expected future payout ratio of 16.0%.

Choice Hotels International Stock Down 0.2 %

Shares of NYSE CHH traded down $0.19 during mid-day trading on Friday, hitting $106.22. The company had a trading volume of 525,972 shares, compared to its average volume of 330,129. Choice Hotels International has a one year low of $104.44 and a one year high of $157.46. The company has a market capitalization of $5.92 billion, a PE ratio of 16.86, a price-to-earnings-growth ratio of 1.63 and a beta of 1.32. The company has a current ratio of 1.69, a quick ratio of 1.69 and a debt-to-equity ratio of 2.03. The firm has a 50-day simple moving average of $115.98 and a two-hundred day simple moving average of $125.08.

Choice Hotels International (NYSE:CHHGet Rating) last posted its quarterly earnings results on Thursday, August 4th. The company reported $1.43 earnings per share for the quarter, missing the consensus estimate of $1.47 by ($0.04). The company had revenue of $367.80 million for the quarter, compared to analyst estimates of $322.24 million. Choice Hotels International had a return on equity of 92.23% and a net margin of 28.72%. The firm’s revenue for the quarter was up 32.1% compared to the same quarter last year. During the same period last year, the firm earned $1.22 EPS. On average, equities analysts expect that Choice Hotels International will post 5.22 EPS for the current year.

Hedge Funds Weigh In On Choice Hotels International

Several institutional investors and hedge funds have recently modified their holdings of the business. Invesco Ltd. increased its stake in Choice Hotels International by 51.6% during the 1st quarter. Invesco Ltd. now owns 1,740,428 shares of the company’s stock worth $246,722,000 after acquiring an additional 592,654 shares during the period. Goldman Sachs Group Inc. raised its stake in Choice Hotels International by 116.0% in the first quarter. Goldman Sachs Group Inc. now owns 627,869 shares of the company’s stock valued at $89,006,000 after purchasing an additional 337,252 shares in the last quarter. Renaissance Technologies LLC lifted its position in Choice Hotels International by 121.0% during the first quarter. Renaissance Technologies LLC now owns 133,500 shares of the company’s stock worth $18,925,000 after purchasing an additional 73,100 shares during the period. Prudential Financial Inc. lifted its position in Choice Hotels International by 193.5% during the first quarter. Prudential Financial Inc. now owns 80,876 shares of the company’s stock worth $11,465,000 after purchasing an additional 53,320 shares during the period. Finally, State Street Corp increased its holdings in Choice Hotels International by 5.8% in the 1st quarter. State Street Corp now owns 894,468 shares of the company’s stock valued at $127,007,000 after buying an additional 49,022 shares during the period. 61.37% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

CHH has been the subject of a number of recent analyst reports. Wells Fargo & Company cut shares of Choice Hotels International from an “equal weight” rating to an “underweight” rating and cut their price target for the company from $130.00 to $123.00 in a research note on Monday, August 29th. Robert W. Baird lifted their price target on Choice Hotels International from $129.00 to $133.00 and gave the stock a “neutral” rating in a report on Thursday, September 15th. Barclays boosted their price target on Choice Hotels International from $107.00 to $108.00 and gave the stock an “underweight” rating in a research report on Friday, August 5th. JPMorgan Chase & Co. decreased their target price on Choice Hotels International from $126.00 to $110.00 and set an “underweight” rating on the stock in a report on Tuesday, August 9th. Finally, UBS Group downgraded Choice Hotels International from a “buy” rating to a “neutral” rating and cut their price target for the company from $167.00 to $124.00 in a report on Tuesday, August 2nd. Four analysts have rated the stock with a sell rating and seven have given a hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $126.10.

Choice Hotels International Company Profile

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Choice Hotels International, Inc, together with its subsidiaries, operates as a hotel franchisor worldwide. The company operates in Hotel Franchising and Corporate & Other segments. It franchises lodging properties under the brand names of Comfort Inn, Comfort Suites, Quality, Clarion, Clarion Pointe, Sleep Inn, Econo Lodge, Rodeway Inn, MainStay Suites, Suburban Extended Stay Hotel, WoodSpring Suites, Everhome Suites, Cambria Hotels, and Ascend Hotel Collection.

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Dividend History for Choice Hotels International (NYSE:CHH)

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