Brokerages expect La Quinta Holdings Inc (NYSE:LQ) to report sales of $220.98 million for the current fiscal quarter, Zacks Investment Research reports. Four analysts have provided estimates for La Quinta’s earnings, with estimates ranging from $220.00 million to $223.05 million. La Quinta posted sales of $222.62 million during the same quarter last year, which suggests a negative year-over-year growth rate of 0.7%. The company is scheduled to report its next earnings report on Tuesday, February 27th.
On average, analysts expect that La Quinta will report full-year sales of $220.98 million for the current fiscal year, with estimates ranging from $965.00 million to $993.79 million. For the next financial year, analysts expect that the company will post sales of $1.00 billion per share, with estimates ranging from $974.00 million to $1.03 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that cover La Quinta.
Several analysts have commented on the company. Stifel Nicolaus reiterated a “hold” rating on shares of La Quinta in a research note on Thursday, February 1st. Deutsche Bank increased their target price on La Quinta to $23.00 and gave the company a “buy” rating in a research note on Friday, January 19th. Goldman Sachs Group upgraded La Quinta from a “sell” rating to a “neutral” rating in a research note on Friday, January 19th. Wells Fargo & Co downgraded La Quinta from an “outperform” rating to a “market perform” rating in a research note on Monday, January 22nd. Finally, UBS Group upgraded La Quinta from a “hold” rating to a “buy” rating in a research note on Thursday, November 2nd. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. La Quinta presently has a consensus rating of “Hold” and a consensus price target of $18.85.
A number of institutional investors and hedge funds have recently modified their holdings of LQ. Wells Fargo & Company MN boosted its stake in La Quinta by 13.2% during the 2nd quarter. Wells Fargo & Company MN now owns 72,704 shares of the company’s stock valued at $1,074,000 after purchasing an additional 8,498 shares during the last quarter. Nationwide Fund Advisors boosted its stake in La Quinta by 20.9% during the 2nd quarter. Nationwide Fund Advisors now owns 161,069 shares of the company’s stock valued at $2,379,000 after purchasing an additional 27,878 shares during the last quarter. New York State Common Retirement Fund boosted its stake in shares of La Quinta by 0.7% in the 2nd quarter. New York State Common Retirement Fund now owns 157,357 shares of the company’s stock worth $2,324,000 after buying an additional 1,107 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of La Quinta by 2.0% in the 2nd quarter. Vanguard Group Inc. now owns 6,658,222 shares of the company’s stock worth $98,342,000 after buying an additional 131,315 shares during the last quarter. Finally, California Public Employees Retirement System purchased a new position in shares of La Quinta in the 2nd quarter worth $275,000. Institutional investors and hedge funds own 97.30% of the company’s stock.
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La Quinta Company Profile
La Quinta Holdings Inc is an owner, operator and franchisor of select-service hotels primarily serving the midscale and upper-midscale sectors under the La Quinta brand. The Company’s segments include owned hotels, franchise and management, and corporate and other. The owned hotels segment is engaged in the operation of owned hotel properties.
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