Extended Stay America Inc. (NYSE:STAY) Given Consensus Recommendation of “Hold” by Analysts
Extended Stay America Inc. (NYSE:STAY) has received a consensus recommendation of “Hold” from the twelve ratings firms that are currently covering the firm. Seven research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $18.63.
Several equities analysts recently commented on STAY shares. Deutsche Bank AG reaffirmed a “buy” rating on shares of Extended Stay America in a research report on Sunday, June 26th. Nomura reaffirmed a “buy” rating and set a $20.00 price target on shares of Extended Stay America in a research report on Monday, June 6th. Zacks Investment Research raised shares of Extended Stay America from a “sell” rating to a “hold” rating in a research report on Tuesday, August 2nd. Bank of America Corp. reaffirmed a “neutral” rating on shares of Extended Stay America in a research report on Monday, July 18th. Finally, Citigroup Inc. dropped their price objective on shares of Extended Stay America from $15.50 to $15.00 and set a “neutral” rating for the company in a research report on Wednesday, August 17th.
Large investors have recently added to or reduced their stakes in the stock. Ameriprise Financial Inc. raised its stake in Extended Stay America by 72.7% in the second quarter. Ameriprise Financial Inc. now owns 2,773,538 shares of the company’s stock worth $41,455,000 after buying an additional 1,167,857 shares during the last quarter. CI Global Investments Inc. increased its position in Extended Stay America by 10.7% in the second quarter. CI Global Investments Inc. now owns 8,050,531 shares of the company’s stock worth $120,355,000 after buying an additional 779,571 shares during the period. Prudential Financial Inc. increased its position in Extended Stay America by 58.9% in the first quarter. Prudential Financial Inc. now owns 1,747,010 shares of the company’s stock worth $28,476,000 after buying an additional 647,240 shares during the period. Norges Bank bought a new position in Extended Stay America during the fourth quarter worth approximately $9,502,000. Finally, AEW Capital Management L P increased its position in Extended Stay America by 11.5% in the first quarter. AEW Capital Management L P now owns 4,111,579 shares of the company’s stock worth $67,019,000 after buying an additional 423,773 shares during the period. 97.58% of the stock is owned by institutional investors and hedge funds.
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Shares of Extended Stay America (NYSE:STAY) traded down 0.14% during midday trading on Wednesday, reaching $14.65. 869,082 shares of the company were exchanged. The stock’s 50-day moving average price is $14.23 and its 200-day moving average price is $14.88. Extended Stay America has a 52-week low of $10.56 and a 52-week high of $19.86. The company has a market capitalization of $2.94 billion, a PE ratio of 27.03 and a beta of 0.96.
Extended Stay America (NYSE:STAY) last issued its quarterly earnings results on Thursday, July 28th. The company reported $0.31 EPS for the quarter, topping the consensus estimate of $0.29 by $0.02. Extended Stay America had a net margin of 8.71% and a return on equity of 12.83%. The firm earned $332.80 million during the quarter, compared to analyst estimates of $337.47 million. During the same quarter in the prior year, the business posted $0.33 earnings per share. Extended Stay America’s revenue for the quarter was down 2.2% compared to the same quarter last year. Analysts anticipate that Extended Stay America will post $0.92 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Thursday, August 25th. Investors of record on Thursday, August 11th were issued a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 5.18%. The ex-dividend date was Tuesday, August 9th. Extended Stay America’s payout ratio is 140.74%.
Extended Stay America Company Profile
Extended Stay America, Inc is a owner/operator of company-branded hotels in North America. The Company operates in the extended stay lodging industry. The Company owns and operates approximately 700 hotel properties consisting of approximately 75,900 rooms located in 44 states across the United States of America and in Canada.
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