Extended Stay America Stock Rating Reaffirmed by Barclays (STAY)
Extended Stay America (NASDAQ:STAY)‘s stock had its “overweight” rating reissued by equities researchers at Barclays in a research report issued on Tuesday. They currently have a $28.00 target price on the stock, down from their previous target price of $29.00. Barclays’ price objective would indicate a potential upside of 16.38% from the stock’s previous close.
Extended Stay America (NASDAQ:STAY) traded down 0.17% on Tuesday, hitting $24.02. The stock had a trading volume of 44,359 shares. 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 $22.92 and a 200-day moving average of $23.25. The company has a market cap of $4.917 billion and a price-to-earnings ratio of 51.97.
Extended Stay America (NASDAQ:STAY) last released its earnings data on Thursday, July 31st. The company reported $0.27 earnings per share for the quarter, missing the analysts’ 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 last year, the company posted $0.23 earnings per share. Extended Stay America’s revenue was up 9.7% compared to the same quarter last year. On average, analysts predict that Extended Stay America will post $0.92 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Thursday, August 28th. Stockholders 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 2.49%. The ex-dividend date of this dividend is Tuesday, August 12th.
In other Extended Stay America news, major shareholder Real Estate Partner Blackstone unloaded 8,050,000 shares of the stock on the open market in a transaction that occurred on Tuesday, August 12th. The shares were 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 can be accessed through this link. Large shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.
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, August 18th. They now have an “overweight” rating on the stock. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Extended Stay America currently has a consensus rating of “Buy” and a consensus price target of $27.00.
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