Summit Hotel Properties Inc reports results for the quarter ended March 31 - Earnings Summary

• Summit Hotel Properties Inc INN.N reported a quarterly adjusted loss of 4 cents​​ per share for the quarter ended March 31, lower than the same quarter last year, when the company reported EPS of -2 cents. The mean expectation of two analysts for the quarter was for a loss of 2 cents per share. Wall Street expected results to range from -3 cents to -2 cents per share.

• Revenue fell 1.9% to $184.48 million from a year ago; analysts expected $184.04 million.

• Summit Hotel Properties Inc's reported EPS for the quarter was a loss of 4 cents​.

• The company reported a quarterly loss of $4.68 million.

• Summit Hotel Properties Inc shares had fallen by 25.0% this quarter and lost 40.7% so far this year.

FORECAST CHANGES

• The mean earnings estimate of analysts had fallen by about 8.4% in the last three months.​

• In the last 30 days, one analyst negatively revised an earnings estimate

RECOMMENDATIONS

• The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 2 "strong buy" or "buy," 4 "hold" and no "sell" or "strong sell." The average consensus recommendation for the specialized reits peer group is also "hold"

• Wall Street's median 12-month price target for Summit Hotel Properties Inc is $6.75

This summary was machine generated from LSEG data April 30 at 11:20 p.m. UTC. ​All figures in US dollars unless otherwise stated. (For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com)