Extended Stay America (STAY) Expected to Post Earnings of $0.20 Per Share

Equities analysts forecast that Extended Stay America (NYSE:STAY) will report earnings of $0.20 per share for the current fiscal quarter, Zacks reports. Five analysts have issued estimates for Extended Stay America’s earnings. The highest EPS estimate is $0.21 and the lowest is $0.19. Extended Stay America reported earnings per share of $0.19 during the same quarter last year, which indicates a positive year over year growth rate of 5.3%. The company is scheduled to announce its next quarterly earnings results on Monday, January 1st.

According to Zacks, analysts expect that Extended Stay America will report full year earnings of $1.13 per share for the current year, with EPS estimates ranging from $1.12 to $1.15. For the next fiscal year, analysts forecast that the company will post earnings of $1.09 per share, with EPS estimates ranging from $0.95 to $1.18. Zacks Investment Research’s EPS averages are a mean average based on a survey of research firms that cover Extended Stay America.

Extended Stay America (NYSE:STAY) last announced its quarterly earnings data 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 firm had revenue of $351.10 million for the quarter, compared to the consensus estimate of $344.17 million. The business’s revenue for the quarter was up .1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.35 earnings per share.

Several analysts have weighed in on STAY shares. Zacks Investment Research cut Extended Stay America from a “hold” rating to a “sell” rating in a report on Thursday, September 27th. Bank of America cut Extended Stay America from a “buy” rating to a “neutral” rating in a report on Tuesday, October 23rd. JPMorgan Chase & Co. dropped their price objective on Extended Stay America from $25.00 to $21.00 and set an “overweight” rating for the company in a report on Friday, November 2nd. Finally, Morgan Stanley set a $21.00 price objective on Extended Stay America and gave the stock a “buy” rating in a report on Thursday, December 20th. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $22.31.

Shares of NYSE:STAY opened at $16.42 on Monday. Extended Stay America has a 1-year low of $14.77 and a 1-year high of $22.58.

Several institutional investors have recently bought and sold shares of STAY. Commonwealth Bank of Australia acquired a new position in shares of Extended Stay America during the 3rd quarter worth about $178,000. Gideon Capital Advisors Inc. acquired a new position in shares of Extended Stay America during the 3rd quarter worth about $224,000. Iberiabank Corp acquired a new position in shares of Extended Stay America during the 3rd quarter worth about $251,000. Hsbc Holdings PLC acquired a new position in shares of Extended Stay America during the 3rd quarter worth about $287,000. Finally, Meeder Asset Management Inc. grew its position in shares of Extended Stay America by 344.6% during the 3rd quarter. Meeder Asset Management Inc. now owns 15,144 shares of the company’s stock worth $307,000 after buying an additional 11,738 shares during the period. Institutional investors own 96.67% of the company’s stock.

Extended Stay America Company Profile

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.

Further Reading: Analyst Ratings

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