Extended Stay America Receives Consensus Rating of “Buy” from Analysts (NASDAQ:STAY)
Shares of Extended Stay America (NASDAQ:STAY) have been given an average rating of “Buy” by the eleven brokerages that are currently covering the stock, American Banking and Market News reports. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $26.83.
Separately, analysts at JPMorgan Chase & Co. cut their price target on shares of Extended Stay America from $28.00 to $27.00 in a research note on Monday. They now have an “overweight” rating on the stock.
Extended Stay America (NASDAQ:STAY) traded up 1.58% on Monday, hitting $23.16. 345,633 shares of the company’s stock traded hands. Extended Stay America has a one year low of $20.62 and a one year high of $26.83. The stock’s 50-day moving average is $22.84 and its 200-day moving average is $23.33. The company has a market cap of $4.741 billion and a price-to-earnings ratio of 49.24.
Extended Stay America (NASDAQ:STAY) last announced its earnings results on Thursday, July 31st. The company reported $0.27 earnings per share (EPS) for the quarter, missing the 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 previous year, the company posted $0.23 earnings per share. The company’s revenue for the quarter was up 9.7% on a year-over-year basis. On average, analysts predict that Extended Stay America will post $0.90 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Thursday, August 28th. Shareholders of record on Thursday, August 14th will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 2.63%. The ex-dividend date of this dividend is Tuesday, August 12th.
In other Extended Stay America news, major shareholder Real Estate Partner Blackstone sold 8,050,000 shares of the stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $21.10, for a total value of $169,855,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Large shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.
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