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Feb. 19, 2016, 8:24 a.m. EST

Choice Hotels upgraded at J.P. Morgan on potential room growth

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By Tonya Garcia

CHH

Choice Hotels International Inc. /zigman2/quotes/202943946/composite CHH -1.38% was upgraded to neutral from underweight at J.P. Morgan on the assumption that the company will add a significant of number rooms. J.P. Morgan raised the price target to $46 from $43. Choice Hotels had 720 hotels in the pipeline at the end of the fourth quarter, up from 638 hotels at the end of the third quarter, J.P. Morgan wrote in a Friday note. The domestic new contruction pipeline is up 22% year-over-year, led by the Comfort and Cambria brands. "[W]e believe Choice Hotels is at a point where it can sustain positive, low-single-digit growth," analysts wrote. The company reported fourth-quarter earnings of 51 cents per share on Thursday, topping the FactSet estimate of 47 cents. Revenue of $211 million also exceeded the FactSet estimate of $195 million. Choice said it sees earnings for the first quarter of at least 38 cents per share, just below the 39 cents FactSet estimate. The company sees full-year 2016 earnings between $2.30 and $2.36, also below the FactSet estimate of $2.38. Choice shares are inactive in premarket trading and down 20.6% over the past year. The S&P 500 is down 8.6% over the past 12 months.

/zigman2/quotes/202943946/composite
US : U.S.: NYSE
$ 85.75
-1.20 -1.38%
Volume: 90,564
Oct. 22, 2019 1:13p
P/E Ratio
22.33
Dividend Yield
1.00%
Market Cap
$4.84 billion
Rev. per Employee
$553,296
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