Wall Street brokerages predict that Extended Stay America Inc (NYSE:STAY) will announce $289.78 million in sales for the current quarter, according to Zacks Investment Research. Four analysts have provided estimates for Extended Stay America’s earnings, with the lowest sales estimate coming in at $285.63 million and the highest estimate coming in at $293.00 million. Extended Stay America reported sales of $290.99 million in the same quarter last year, which would suggest a negative year-over-year growth rate of 0.4%. The firm is expected to report its next earnings results on Monday, January 1st.
According to Zacks, analysts expect that Extended Stay America will report full-year sales of $289.78 million for the current fiscal year, with estimates ranging from $1.27 billion to $1.28 billion. For the next year, analysts forecast that the firm will report sales of $1.28 billion per share, with estimates ranging from $1.25 billion to $1.29 billion. Zacks’ sales averages are an average based on a survey of sell-side research firms that that provide coverage for Extended Stay America.
Extended Stay America (NYSE:STAY) last posted its earnings results on Tuesday, February 27th. The company reported $0.19 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.17 by $0.02. Extended Stay America had a return on equity of 14.42% and a net margin of 6.15%. The company had revenue of $302.50 million for the quarter, compared to analyst estimates of $299.75 million. During the same quarter last year, the company earned $0.20 earnings per share. The company’s revenue for the quarter was up 2.3% on a year-over-year basis.
A number of research firms have recently weighed in on STAY. Zacks Investment Research upgraded Extended Stay America from a “hold” rating to a “buy” rating and set a $22.00 target price on the stock in a report on Wednesday, February 21st. Stifel Nicolaus restated a “buy” rating and issued a $19.50 target price (up previously from $19.25) on shares of Extended Stay America in a report on Tuesday, December 19th. Morgan Stanley dropped their target price on Extended Stay America from $20.00 to $18.00 and set an “equal weight” rating on the stock in a report on Wednesday, November 8th. Deutsche Bank dropped their target price on Extended Stay America from $23.00 to $21.00 and set a “buy” rating on the stock in a report on Wednesday, November 8th. Finally, ValuEngine lowered Extended Stay America from a “buy” rating to a “hold” rating in a report on Tuesday, November 7th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and eight have given a buy rating to the company’s stock. Extended Stay America currently has an average rating of “Buy” and a consensus price target of $21.06.
Extended Stay America (STAY) traded up $0.13 during mid-day trading on Friday, hitting $19.18. The stock had a trading volume of 1,644,113 shares, compared to its average volume of 1,970,840. Extended Stay America has a 52 week low of $15.63 and a 52 week high of $21.28. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 0.94. The company has a market capitalization of $3,748.81, a price-to-earnings ratio of 46.46, a PEG ratio of 3.48 and a beta of 0.96.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 27th. Investors of record on Tuesday, March 13th will be issued a dividend of $0.21 per share. The ex-dividend date is Monday, March 12th. This represents a $0.84 dividend on an annualized basis and a yield of 4.38%. Extended Stay America’s dividend payout ratio (DPR) is currently 148.78%.
Extended Stay America announced that its Board of Directors has approved a share buyback program on Tuesday, February 27th that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the company to repurchase shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.
Institutional investors have recently modified their holdings of the stock. Howe & Rusling Inc. bought a new stake in Extended Stay America during the fourth quarter worth $116,000. The Manufacturers Life Insurance Company lifted its holdings in Extended Stay America by 6.3% during the second quarter. The Manufacturers Life Insurance Company now owns 6,181 shares of the company’s stock worth $120,000 after acquiring an additional 367 shares during the period. Bronfman E.L. Rothschild L.P. lifted its holdings in Extended Stay America by 108.3% during the third quarter. Bronfman E.L. Rothschild L.P. now owns 7,073 shares of the company’s stock worth $141,000 after acquiring an additional 3,678 shares during the period. CENTRAL TRUST Co lifted its holdings in Extended Stay America by 1,359.4% during the fourth quarter. CENTRAL TRUST Co now owns 8,304 shares of the company’s stock worth $158,000 after acquiring an additional 7,735 shares during the period. Finally, Cubist Systematic Strategies LLC bought a new stake in Extended Stay America during the third quarter worth $175,000. Institutional investors and hedge funds own 97.08% of the company’s stock.
COPYRIGHT VIOLATION WARNING: “Zacks: Analysts Anticipate Extended Stay America Inc (STAY) Will Announce Quarterly Sales of $289.78 Million” was first reported by The Lincolnian Online and is owned by of The Lincolnian Online. If you are reading this piece on another website, it was illegally stolen and reposted in violation of United States & international copyright & trademark legislation. The original version of this piece can be read at https://www.thelincolnianonline.com/2018/03/14/zacks-analysts-anticipate-extended-stay-america-inc-stay-will-announce-quarterly-sales-of-289-78-million.html.
About Extended Stay America
Extended Stay America, Inc is a owner/operator of company-branded hotels in North America. The Company operates in the extended stay lodging industry. The Company owns and operates approximately 700 hotel properties consisting of approximately 75,900 rooms located in 44 states across the United States of America and in Canada.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Extended Stay America Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Extended Stay America and related companies with MarketBeat.com's FREE daily email newsletter.