Equities analysts expect that Extended Stay America (NYSE:STAY) will post $284.32 million in sales for the current quarter, according to Zacks Investment Research. Five analysts have made estimates for Extended Stay America’s earnings. The lowest sales estimate is $277.76 million and the highest is $291.30 million. Extended Stay America reported sales of $289.72 million in the same quarter last year, which indicates a negative year over year growth rate of 1.9%. The company is scheduled to report its next quarterly earnings report on Wednesday, November 6th.
On average, analysts expect that Extended Stay America will report full-year sales of $1.21 billion for the current year, with estimates ranging from $1.20 billion to $1.22 billion. For the next year, analysts forecast that the firm will post sales of $1.22 billion, with estimates ranging from $1.21 billion to $1.23 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that follow Extended Stay America.
Extended Stay America (NYSE:STAY) last released its earnings results on Wednesday, November 6th. The company reported $0.33 earnings per share for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.02). The company had revenue of $332.70 million for the quarter, compared to analyst estimates of $331.69 million. The company’s quarterly revenue was down 5.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.39 earnings per share.
A number of brokerages have commented on STAY. Stifel Nicolaus cut their price target on shares of Extended Stay America from $20.50 to $18.00 and set a “buy” rating for the company in a research note on Wednesday, August 7th. Zacks Investment Research cut shares of Extended Stay America from a “hold” rating to a “sell” rating and set a $15.00 price target for the company. in a research note on Monday, August 12th. Morgan Stanley cut shares of Extended Stay America from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $20.00 to $15.00 in a research note on Friday, August 9th. Barclays set a $17.00 price target on shares of Extended Stay America and gave the company a “buy” rating in a research note on Monday, August 12th. Finally, Robert W. Baird set a $19.00 price target on shares of Extended Stay America and gave the company a “buy” rating in a research note on Wednesday, August 7th. One analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the company. Extended Stay America currently has a consensus rating of “Buy” and a consensus target price of $17.80.
In other news, insider Kevin A. Henry sold 7,500 shares of the firm’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $13.86, for a total transaction of $103,950.00. Following the completion of the sale, the insider now owns 108,683 shares in the company, valued at approximately $1,506,346.38. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Jonathan S. Halkyard bought 10,000 shares of the business’s stock in a transaction dated Monday, August 12th. The shares were bought at an average price of $14.63 per share, with a total value of $146,300.00. The disclosure for this purchase can be found here. Company insiders own 0.72% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of STAY. BlackRock Inc. lifted its stake in shares of Extended Stay America by 31.5% during the 2nd quarter. BlackRock Inc. now owns 16,639,370 shares of the company’s stock worth $281,039,000 after buying an additional 3,988,717 shares during the last quarter. Long Pond Capital LP raised its stake in Extended Stay America by 191.8% in the 2nd quarter. Long Pond Capital LP now owns 4,547,620 shares of the company’s stock worth $76,809,000 after purchasing an additional 2,988,907 shares in the last quarter. Sterling Capital Management LLC raised its stake in Extended Stay America by 1,521.8% in the 2nd quarter. Sterling Capital Management LLC now owns 2,506,980 shares of the company’s stock worth $42,343,000 after purchasing an additional 2,352,398 shares in the last quarter. Nuveen Asset Management LLC acquired a new stake in Extended Stay America in the 2nd quarter worth about $24,124,000. Finally, SG Americas Securities LLC raised its stake in Extended Stay America by 12,595.6% in the 2nd quarter. SG Americas Securities LLC now owns 816,071 shares of the company’s stock worth $13,783,000 after purchasing an additional 809,643 shares in the last quarter. Institutional investors own 96.67% of the company’s stock.
Shares of STAY stock opened at $14.70 on Friday. The company has a fifty day moving average price of $14.47 and a two-hundred day moving average price of $15.88. Extended Stay America has a one year low of $12.88 and a one year high of $19.73.
Extended Stay America Company Profile
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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