Extended Stay America Price Target Lowered to $27.00 at JPMorgan Chase & Co. (STAY)
Research analysts at JPMorgan Chase & Co. dropped their price objective on shares of Extended Stay America (NASDAQ:STAY) from $28.00 to $27.00 in a report released on Monday. JPMorgan Chase & Co.’s price objective would indicate a potential upside of 18.42% from the stock’s previous close.
In other Extended Stay America news, major shareholder Real Estate Partner Blackstone unloaded 8,050,000 shares of Extended Stay America stock on the open market in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $21.10, for a total value of $169,855,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Major shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.
Extended Stay America (NASDAQ:STAY) opened at 22.80 on Monday. Extended Stay America has a one year low of $20.62 and a one year high of $26.83. The stock has a 50-day moving average of $22.84 and a 200-day moving average of $23.33. The company has a market cap of $4.667 billion and a price-to-earnings ratio of 49.52.
Extended Stay America (NASDAQ:STAY) last posted its quarterly earnings results on Thursday, July 31st. The company reported $0.27 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.28 by $0.01. The company had revenue of $321.90 million for the quarter, compared to the consensus estimate of $319.11 million. During the same quarter in the prior year, the company posted $0.23 earnings per share. The company’s quarterly revenue was up 9.7% on a year-over-year basis. Analysts expect that Extended Stay America will post $0.90 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Thursday, August 28th. Stockholders of record on Thursday, August 14th will be paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 2.63%. The ex-dividend date is Tuesday, August 12th.
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