Zacks: Analysts Anticipate Extended Stay America (STAY) Will Announce Earnings of $0.39 Per Share

Analysts predict that Extended Stay America (NYSE:STAY) will announce earnings per share of $0.39 for the current quarter, according to Zacks Investment Research. Five analysts have provided estimates for Extended Stay America’s earnings, with the highest EPS estimate coming in at $0.40 and the lowest estimate coming in at $0.38. Extended Stay America reported earnings per share of $0.35 in the same quarter last year, which suggests a positive year over year growth rate of 11.4%. The company is scheduled to issue its next quarterly earnings results on Monday, January 1st.

According to Zacks, analysts expect that Extended Stay America will report full year earnings of $1.14 per share for the current financial year, with EPS estimates ranging from $1.11 to $1.16. For the next fiscal year, analysts forecast that the business will report earnings of $1.21 per share, with EPS estimates ranging from $1.11 to $1.41. Zacks’ EPS averages are a mean average based on a survey of sell-side research firms that that provide coverage for Extended Stay America.

Extended Stay America (NYSE:STAY) last issued its quarterly earnings results on Wednesday, July 25th. The company reported $0.35 EPS for the quarter, topping analysts’ consensus estimates of $0.34 by $0.01. The company had revenue of $336.50 million for the quarter, compared to analyst estimates of $336.68 million. Extended Stay America had a net margin of 5.47% and a return on equity of 15.18%. Extended Stay America’s revenue was down .5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.31 earnings per share.

STAY has been the topic of a number of recent research reports. Jefferies Financial Group initiated coverage on shares of Extended Stay America in a report on Thursday, May 31st. They set a “buy” rating and a $26.00 price target on the stock. Morgan Stanley upgraded shares of Extended Stay America from an “equal” rating to an “overweight” rating and set a $23.00 price target on the stock in a report on Thursday, May 31st. Robert W. Baird reiterated a “buy” rating and set a $22.00 price target on shares of Extended Stay America in a report on Thursday, April 19th. JPMorgan Chase & Co. lifted their price target on shares of Extended Stay America from $24.00 to $25.00 and gave the stock an “overweight” rating in a report on Friday, July 27th. Finally, Zacks Investment Research upgraded shares of Extended Stay America from a “hold” rating to a “buy” rating and set a $24.00 price target on the stock in a report on Monday, July 2nd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have given a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $22.95.

In other news, insider Brian T. Nicholson bought 10,000 shares of the stock in a transaction that occurred on Tuesday, July 31st. The stock was acquired at an average price of $21.19 per share, with a total value of $211,900.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Ames Flynn sold 1,390 shares of Extended Stay America stock in a transaction on Thursday, August 2nd. The stock was sold at an average price of $21.47, for a total transaction of $29,843.30. Following the transaction, the insider now directly owns 55,713 shares of the company’s stock, valued at approximately $1,196,158.11. The disclosure for this sale can be found here. 0.72% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in STAY. Hilltop Holdings Inc. bought a new position in Extended Stay America during the first quarter worth $201,000. Bayesian Capital Management LP bought a new stake in Extended Stay America in the first quarter valued at $293,000. Asset Management One Co. Ltd. increased its stake in Extended Stay America by 119.1% in the first quarter. Asset Management One Co. Ltd. now owns 15,339 shares of the company’s stock valued at $303,000 after purchasing an additional 8,339 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Extended Stay America by 35.5% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,194 shares of the company’s stock valued at $307,000 after purchasing an additional 3,715 shares in the last quarter. Finally, Tiverton Asset Management LLC bought a new stake in Extended Stay America in the second quarter valued at $319,000. 96.67% of the stock is owned by institutional investors and hedge funds.

Shares of Extended Stay America traded down $0.13, reaching $21.08, during mid-day trading on Friday, MarketBeat Ratings reports. 1,113,114 shares of the company’s stock were exchanged, compared to its average volume of 1,654,043. The firm has a market cap of $4.16 billion, a PE ratio of 21.08, a price-to-earnings-growth ratio of 2.54 and a beta of 0.96. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.19 and a current ratio of 0.19. Extended Stay America has a twelve month low of $16.27 and a twelve month high of $22.58.

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 23rd. Investors of record on Thursday, August 9th will be paid a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 4.17%. The ex-dividend date is Wednesday, August 8th. Extended Stay America’s dividend payout ratio is presently 88.00%.

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

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