Analysts Anticipate Extended Stay America (STAY) to Announce $0.19 EPS

Wall Street brokerages expect Extended Stay America (NYSE:STAY) to post $0.19 earnings per share (EPS) for the current quarter, Zacks reports. Five analysts have issued estimates for Extended Stay America’s earnings, with estimates ranging from $0.18 to $0.21. Extended Stay America also reported earnings per share of $0.19 in the same quarter last year. The company is scheduled to issue its next earnings report on Monday, January 1st.

According to Zacks, analysts expect that Extended Stay America will report full year earnings of $1.12 per share for the current financial year, with EPS estimates ranging from $1.08 to $1.14. For the next year, analysts anticipate that the firm will post earnings of $1.12 per share, with EPS estimates ranging from $0.98 to $1.24. Zacks’ earnings per share calculations are an average based on a survey of research firms that that provide coverage for Extended Stay America.

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

Several equities research analysts recently issued reports on the company. Bank of America increased their price objective on Extended Stay America from $19.00 to $20.00 and gave the stock a “neutral” rating in a research note on Friday, November 2nd. JPMorgan Chase & Co. reduced their price objective on Extended Stay America from $25.00 to $21.00 and set an “overweight” rating for the company in a research note on Friday, November 2nd. Zacks Investment Research downgraded Extended Stay America from a “hold” rating to a “sell” rating in a research note on Thursday, September 27th. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $22.50 price objective on shares of Extended Stay America in a research note on Thursday, July 26th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $22.56.

A number of institutional investors have recently made changes to their positions in STAY. Canada Pension Plan Investment Board increased its position in Extended Stay America by 76.6% in the 3rd quarter. Canada Pension Plan Investment Board now owns 1,667,200 shares of the company’s stock worth $33,727,000 after purchasing an additional 723,100 shares during the last quarter. Hilton Capital Management LLC acquired a new position in Extended Stay America in the 3rd quarter worth about $14,624,000. CI Global Investments Inc. increased its position in Extended Stay America by 0.8% in the 3rd quarter. CI Global Investments Inc. now owns 479,659 shares of the company’s stock worth $9,708,000 after purchasing an additional 3,707 shares during the last quarter. FIL Ltd increased its position in Extended Stay America by 104.6% in the 3rd quarter. FIL Ltd now owns 2,561,000 shares of the company’s stock worth $51,809,000 after purchasing an additional 1,309,400 shares during the last quarter. Finally, Gluskin Sheff & Assoc Inc. increased its position in Extended Stay America by 31.5% in the 3rd quarter. Gluskin Sheff & Assoc Inc. now owns 3,621,522 shares of the company’s stock worth $73,263,000 after purchasing an additional 866,770 shares during the last quarter. 96.67% of the stock is owned by hedge funds and other institutional investors.

Shares of Extended Stay America stock opened at $18.48 on Monday. Extended Stay America has a 1 year low of $15.73 and a 1 year high of $22.58.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 29th. Investors of record on Thursday, November 15th will be paid a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 4.76%. The ex-dividend date of this dividend is Wednesday, November 14th.

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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