Equities research analysts predict that Extended Stay America (NYSE:STAY) will announce $288.41 million in sales for the current quarter, Zacks Investment Research reports. Five analysts have made estimates for Extended Stay America’s earnings, with estimates ranging from $275.20 million to $296.00 million. Extended Stay America posted sales of $302.51 million during the same quarter last year, which suggests a negative year over year growth rate of 4.7%. The company is scheduled to announce its next earnings report on Monday, January 1st.
According to Zacks, analysts expect that Extended Stay America will report full-year sales of $1.27 billion for the current fiscal year, with estimates ranging from $1.26 billion to $1.28 billion. For the next fiscal year, analysts forecast that the business will report sales of $1.24 billion, with estimates ranging from $1.23 billion to $1.29 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that follow Extended Stay America.
Extended Stay America (NYSE:STAY) last issued its quarterly earnings results on Wednesday, October 31st. The company reported $0.39 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.38 by $0.01. The company had revenue of $351.10 million for the quarter, compared to analyst estimates of $344.17 million. During the same period in the prior year, the business earned $0.35 earnings per share. Extended Stay America’s revenue for the quarter was up .1% compared to the same quarter last year.
Several brokerages recently weighed in on STAY. JPMorgan Chase & Co. increased their price target on Extended Stay America from $24.00 to $25.00 and gave the stock an “overweight” rating in a report on Friday, July 27th. Zacks Investment Research downgraded Extended Stay America from a “buy” rating to a “hold” rating in a report on Monday, July 30th. Stifel Nicolaus reaffirmed a “buy” rating and set a $22.50 price target on shares of Extended Stay America in a report on Thursday, July 26th. Finally, Bank of America increased their price target on Extended Stay America from $19.00 to $20.00 and gave the stock a “neutral” rating in a report on Friday, November 2nd. One analyst has rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the stock. Extended Stay America presently has a consensus rating of “Buy” and a consensus price target of $22.56.
A number of institutional investors have recently added to or reduced their stakes in the business. Rhumbline Advisers lifted its holdings in Extended Stay America by 1.3% in the second quarter. Rhumbline Advisers now owns 201,447 shares of the company’s stock valued at $4,353,000 after acquiring an additional 2,531 shares during the period. Cadence Capital Management LLC lifted its holdings in Extended Stay America by 18.6% in the third quarter. Cadence Capital Management LLC now owns 17,861 shares of the company’s stock valued at $361,000 after acquiring an additional 2,798 shares during the period. BB&T Securities LLC lifted its holdings in Extended Stay America by 4.9% in the second quarter. BB&T Securities LLC now owns 65,977 shares of the company’s stock valued at $1,425,000 after acquiring an additional 3,066 shares during the period. CI Global Investments Inc. lifted its holdings in Extended Stay America by 0.8% in the third quarter. CI Global Investments Inc. now owns 479,659 shares of the company’s stock valued at $9,708,000 after acquiring an additional 3,707 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Extended Stay America by 35.5% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,194 shares of the company’s stock valued at $307,000 after acquiring an additional 3,715 shares during the period. 96.67% of the stock is owned by institutional investors.
Shares of NYSE STAY opened at $18.48 on Wednesday. Extended Stay America has a 1-year low of $15.73 and a 1-year high of $22.58.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 29th. Shareholders of record on Thursday, November 15th will be issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 4.76%. The ex-dividend date is Wednesday, November 14th.
About Extended Stay America
Extended Stay America, Inc, together with its subsidiaries, owns, operates, and manages hotels in the United States. As of February 27, 2018, it had 599 hotels and approximately 66,000 rooms, as well as managed 26 hotels under the Extended Stay America brand. It serves customers in the mid-priced extended stay segment.
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