Zacks: Analysts Expect Extended Stay America (STAY) Will Post Quarterly Sales of $288.41 Million

Share on StockTwits

Wall Street analysts expect that Extended Stay America (NYSE:STAY) will report sales of $288.41 million for the current quarter, according to Zacks Investment Research. Five analysts have provided estimates for Extended Stay America’s earnings, with the lowest sales estimate coming in at $275.20 million and the highest estimate coming in at $296.00 million. Extended Stay America posted sales of $302.51 million in the same quarter last year, which would indicate a negative year over year growth rate of 4.7%. The company is expected to announce its next quarterly earnings report on Monday, January 1st.

On average, analysts expect that Extended Stay America will report full year sales of $1.27 billion for the current fiscal year, with estimates ranging from $1.26 billion to $1.28 billion. For the next year, analysts anticipate that the company will post sales of $1.24 billion, with estimates ranging from $1.23 billion to $1.29 billion. Zacks’ sales averages are an average based on a survey of research firms that cover Extended Stay America.

Extended Stay America (NYSE:STAY) last announced its quarterly earnings results on Wednesday, October 31st. The company reported $0.39 EPS for the quarter, beating the Zacks’ consensus estimate of $0.38 by $0.01. The business had revenue of $351.10 million for the quarter, compared to analysts’ expectations of $344.17 million. The business’s quarterly revenue was up .1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.35 earnings per share.

A number of brokerages recently commented on STAY. Bank of America upped their price target on shares of Extended Stay America from $19.00 to $20.00 and gave the company a “neutral” rating in a research note on Friday, November 2nd. JPMorgan Chase & Co. dropped their price target on shares of Extended Stay America from $25.00 to $21.00 and set an “overweight” rating on the stock in a research note on Friday, November 2nd. Zacks Investment Research cut shares of Extended Stay America from a “hold” rating to a “sell” rating in a research note on Thursday, September 27th. Finally, Stifel Nicolaus restated a “buy” rating and set a $22.50 price target on shares of Extended Stay America in a research note on Thursday, July 26th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the company’s stock. Extended Stay America presently has a consensus rating of “Buy” and an average target price of $22.56.

Shares of STAY stock opened at $18.48 on Wednesday. Extended Stay America has a 12 month low of $15.73 and a 12 month high of $22.58.

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 29th. Investors of record on Thursday, November 15th will be issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 4.76%. The ex-dividend date is Wednesday, November 14th.

A number of institutional investors have recently bought and sold shares of STAY. Commonwealth Bank of Australia bought a new stake in Extended Stay America during the 3rd quarter worth approximately $178,000. Iberiabank Corp bought a new position in shares of Extended Stay America in the 3rd quarter worth $251,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Extended Stay America by 35.5% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,194 shares of the company’s stock worth $307,000 after buying an additional 3,715 shares during the last quarter. Meeder Asset Management Inc. increased its holdings in shares of Extended Stay America by 344.6% in the 3rd quarter. Meeder Asset Management Inc. now owns 15,144 shares of the company’s stock worth $307,000 after buying an additional 11,738 shares during the last quarter. Finally, Tiverton Asset Management LLC bought a new position in shares of Extended Stay America in the 2nd quarter worth $319,000. 96.67% of the stock is currently owned by institutional investors and hedge funds.

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.

Featured Article: Are analyst ratings accurate?

Get a free copy of the Zacks research report on Extended Stay America (STAY)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Extended Stay America (NYSE:STAY)

Receive News & Ratings for Extended Stay America Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Extended Stay America and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply