Summit Hotel Properties, Inc. reports results for the quarter ended September 30 - Earnings Summary

• Summit Hotel Properties, Inc. INN.N reported a quarterly adjusted loss of 7 cents​​ per share for the quarter ended September 30, higher than the same quarter last year, when the company reported EPS of -11 cents. The mean expectation of three analysts for the quarter was for a loss of 8 cents per share. Wall Street expected results to range from -10 cents to -7 cents per share.

• Revenue rose 4.8% to $185.71 million from a year ago; analysts expected $180.92 million.

• Summit Hotel Properties, Inc.'s reported EPS for the quarter was a loss of 7 cents​.

• The company reported a quarterly loss of $7.66 million.

• Summit Hotel Properties, Inc. shares had risen by 18.9% this quarter and gained 45.8% so far this year.

FORECAST CHANGES

• The mean earnings estimate of analysts had fallen by about 0.5% 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," 3 "hold" and 1 "sell" or "strong sell." The average consensus recommendation for the specialized reits peer group is "buy."

• Wall Street's median 12-month price target for Summit Hotel Properties, Inc. is $7.00, about 0.6% below its last closing price of $7.04

This summary was machine generated from LSEG data November 4 at 12:36 a.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)