Brokerages Anticipate Extended Stay America (STAY) to Announce $0.20 EPS

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Brokerages forecast that Extended Stay America (NYSE:STAY) will report $0.20 earnings per share (EPS) for the current fiscal quarter, Zacks Investment Research reports. Five analysts have issued estimates for Extended Stay America’s earnings, with the highest EPS estimate coming in at $0.21 and the lowest estimate coming in at $0.19. Extended Stay America reported earnings per share of $0.19 during the same quarter last year, which would indicate a positive year-over-year growth rate of 5.3%. The company is expected to issue its next quarterly earnings report on Monday, January 1st.

According to Zacks, analysts expect that Extended Stay America will report full-year earnings of $1.13 per share for the current year, with EPS estimates ranging from $1.12 to $1.15. For the next year, analysts anticipate that the business will report earnings of $1.09 per share, with EPS estimates ranging from $0.95 to $1.18. Zacks’ earnings per share averages are an average based on a survey of analysts that that provide coverage for Extended Stay America.

Extended Stay America (NYSE:STAY) last announced its quarterly earnings results on Wednesday, October 31st. The company reported $0.39 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.38 by $0.01. The firm had revenue of $351.10 million for the quarter, compared to analyst estimates of $344.17 million. The firm’s quarterly revenue was up .1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.35 EPS.

A number of equities analysts recently weighed in on STAY shares. Zacks Investment Research reaffirmed a “hold” rating on shares of Extended Stay America in a research report on Friday, November 16th. Bank of America increased their price objective on shares of Extended Stay America from $19.00 to $20.00 and gave the stock a “neutral” rating in a research report on Friday, November 2nd. JPMorgan Chase & Co. lowered their price objective on shares of Extended Stay America from $25.00 to $21.00 and set an “overweight” rating for the company in a research report on Friday, November 2nd. Finally, Morgan Stanley set a $21.00 price target on shares of Extended Stay America and gave the company a “buy” rating in a research report on Thursday, December 20th. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Extended Stay America has an average rating of “Buy” and a consensus price target of $22.31.

Hedge funds have recently modified their holdings of the business. Commonwealth Bank of Australia acquired a new stake in shares of Extended Stay America in the 3rd quarter valued at $178,000. Gideon Capital Advisors Inc. acquired a new stake in shares of Extended Stay America in the 3rd quarter valued at $224,000. Iberiabank Corp acquired a new stake in shares of Extended Stay America in the 3rd quarter valued at $251,000. Hsbc Holdings PLC acquired a new stake in shares of Extended Stay America in the 3rd quarter valued at $287,000. Finally, Meeder Asset Management Inc. raised 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 valued at $307,000 after purchasing an additional 11,738 shares in the last quarter. 96.67% of the stock is owned by institutional investors.

Shares of NYSE STAY opened at $16.42 on Monday. Extended Stay America has a 1 year low of $14.77 and a 1 year high of $22.58.

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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