Extended Stay America (NYSE:STAY) released its earnings results on Wednesday. The company reported $0.33 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.35 by ($0.02), Briefing.com reports. The firm had revenue of $332.70 million during the quarter, compared to analysts’ expectations of $331.69 million. The business’s revenue was down 5.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.39 earnings per share. Extended Stay America updated its FY19 guidance to $0.93-1.01 EPS.
Extended Stay America stock traded up $0.19 during mid-day trading on Friday, hitting $14.70. The company’s stock had a trading volume of 1,781,232 shares, compared to its average volume of 1,834,823. The company has a 50 day moving average of $14.47 and a 200-day moving average of $15.88. Extended Stay America has a one year low of $12.88 and a one year high of $19.73.
In other Extended Stay America news, insider Kevin A. Henry sold 7,500 shares of the company’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $13.86, for a total value of $103,950.00. Following the transaction, the insider now owns 108,683 shares of the company’s stock, valued at approximately $1,506,346.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jonathan S. Halkyard acquired 10,000 shares of the business’s stock in a transaction on Monday, August 12th. The stock was acquired at an average cost of $14.63 per share, for a total transaction of $146,300.00. The disclosure for this purchase can be found here. Corporate insiders own 0.72% of the company’s stock.
STAY has been the topic of several analyst reports. Barclays set a $17.00 target price on Extended Stay America and gave the company a “buy” rating in a research report on Monday, August 12th. Robert W. Baird set a $19.00 target price on Extended Stay America and gave the company a “buy” rating in a research report on Wednesday, August 7th. Nomura reissued a “buy” rating and set a $20.00 target price on shares of Extended Stay America in a research report on Thursday, August 8th. Morgan Stanley downgraded Extended Stay America from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $20.00 to $15.00 in a research report on Friday, August 9th. Finally, Stifel Nicolaus cut their target price on Extended Stay America from $20.50 to $18.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $17.80.
About Extended Stay America
Extended Stay America, Inc, together with its subsidiaries, owns, operates, and manages hotels in the United States. As of February 27, 2018, it had 599 hotels and approximately 66,000 rooms, as well as managed 26 hotels under the Extended Stay America brand. It serves customers in the mid-priced extended stay segment.
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