Choice Hotels International (CHH) reported first quarter net income of $0.26 per share Monday morning, down from $0.34 a year ago. The consensus estimate was for EPS of $0.27. Second quarter EPS is expected to be $0.45, compared to the consensus estimate of $0.53. The company also lowered its full year 2013 EPS forecast to between $1.87 and $1.91, from prior expectations of $1.96 to $1.98. The consensus estimate is for EPS of $1.97.
Choice Hotels International steadily declined throughout Monday's session and closed down by 4.78 at $40.52, with volume at a 10-month high. The stock sank to a 1-month low and slipped beneath its 50-day moving average.
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