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Choice Hotels International increases FY'19 adjusted EPS outlook

Choice Hotels International Inc. said in its second-quarter earnings release that it expects its full-year adjusted EPS in the range of $4.16 to $4.22, an increase from the previously provided range of $4.06 to $4.18.

The hotelier also provided third-quarter adjusted EPS guidance in the range of $1.25 to $1.29.

In late July, Choice redeemed a third party's remaining equity stake in a joint venture that held four Cambria hotels, bringing its outstanding investment under the Cambria program to about $553 million. Choice does not intend to own the hotels permanently.

The S&P Global Market Intelligence consensus EPS estimates for the third quarter and full year are $1.28 and $4.18, respectively.