Extended Stay America (STAY) Receives $22.36 Consensus PT from Brokerages

Extended Stay America (NYSE:STAY) has earned a consensus recommendation of “Buy” from the nine brokerages that are currently covering the firm, Marketbeat.com reports. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $22.36.

Several equities analysts have recently commented on STAY shares. Zacks Investment Research reaffirmed a “hold” rating on shares of Extended Stay America in a research note on Friday, November 16th. Bank of America upped their price objective 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. Finally, 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 note on Friday, November 2nd.

Several large investors have recently modified their holdings of the company. Rhumbline Advisers raised its stake in shares of Extended Stay America by 1.3% during the second quarter. Rhumbline Advisers now owns 201,447 shares of the company’s stock valued at $4,353,000 after acquiring an additional 2,531 shares during the last quarter. Cadence Capital Management LLC increased its position in shares of Extended Stay America by 18.6% during the third quarter. Cadence Capital Management LLC now owns 17,861 shares of the company’s stock valued at $361,000 after buying an additional 2,798 shares during the period. BB&T Securities LLC increased its position in shares of Extended Stay America by 4.9% during the second quarter. BB&T Securities LLC now owns 65,977 shares of the company’s stock valued at $1,425,000 after buying an additional 3,066 shares during the period. CI Global Investments Inc. increased its position in shares of Extended Stay America by 0.8% during the third quarter. CI Global Investments Inc. now owns 479,659 shares of the company’s stock valued at $9,708,000 after buying an additional 3,707 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Extended Stay America by 35.5% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,194 shares of the company’s stock valued at $307,000 after buying an additional 3,715 shares during the period. 96.67% of the stock is owned by hedge funds and other institutional investors.

Extended Stay America stock opened at $18.20 on Thursday. Extended Stay America has a twelve month low of $15.73 and a twelve month high of $22.58.

Extended Stay America (NYSE:STAY) last posted its quarterly earnings results on Wednesday, October 31st. The company reported $0.39 earnings per share 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 the consensus estimate of $344.17 million. The business’s revenue for the quarter was up .1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.35 earnings per share.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 29th. Stockholders of record on Thursday, November 15th were paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 4.84%. The ex-dividend date was Wednesday, November 14th.

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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Analyst Recommendations for Extended Stay America (NYSE:STAY)

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