Extended Stay America Inc (STAY) Receives Consensus Rating of “Buy” from Brokerages

Shares of Extended Stay America Inc (NYSE:STAY) have earned an average rating of “Buy” from the twelve brokerages that are presently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have issued a buy rating on the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $21.06.

Several equities research analysts have recently issued reports on the company. JPMorgan Chase raised Extended Stay America from a “neutral” rating to an “overweight” rating and set a $21.00 target price for the company in a research report on Wednesday, December 13th. Barclays reaffirmed an “overweight” rating and set a $22.00 target price (up from $21.00) on shares of Extended Stay America in a research report on Wednesday, February 28th. Zacks Investment Research raised Extended Stay America from a “hold” rating to a “buy” rating and set a $22.00 target price for the company in a research report on Wednesday, February 21st. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $20.50 target price on shares of Extended Stay America in a research report on Tuesday, January 9th.

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In related news, insider Kevin A. Henry sold 10,000 shares of Extended Stay America stock in a transaction dated Thursday, March 8th. The stock was sold at an average price of $19.23, for a total value of $192,300.00. Following the completion of the sale, the insider now owns 117,196 shares of the company’s stock, valued at approximately $2,253,679.08. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 0.57% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Howe & Rusling Inc. purchased a new stake in Extended Stay America in the 4th quarter worth about $116,000. The Manufacturers Life Insurance Company increased its holdings in Extended Stay America by 6.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 6,181 shares of the company’s stock worth $120,000 after acquiring an additional 367 shares during the last quarter. Bronfman E.L. Rothschild L.P. increased its holdings in Extended Stay America by 108.3% in the 3rd quarter. Bronfman E.L. Rothschild L.P. now owns 7,073 shares of the company’s stock worth $141,000 after acquiring an additional 3,678 shares during the last quarter. CENTRAL TRUST Co increased its holdings in Extended Stay America by 1,359.4% in the 4th quarter. CENTRAL TRUST Co now owns 8,304 shares of the company’s stock worth $158,000 after acquiring an additional 7,735 shares during the last quarter. Finally, Cubist Systematic Strategies LLC purchased a new stake in Extended Stay America in the 3rd quarter worth about $175,000. 98.89% of the stock is owned by institutional investors.

Shares of Extended Stay America stock traded up $0.23 during trading hours on Friday, hitting $19.77. 943,566 shares of the company’s stock traded hands, compared to its average volume of 1,579,788. Extended Stay America has a 12-month low of $15.63 and a 12-month high of $21.28. The firm has a market cap of $3,778.24, a PE ratio of 19.77, a P/E/G ratio of 3.50 and a beta of 0.96. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.12 and a quick ratio of 0.12.

Extended Stay America (NYSE:STAY) last announced its earnings results on Tuesday, February 27th. The company reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.02. Extended Stay America had a return on equity of 14.42% and a net margin of 6.15%. The firm had revenue of $302.50 million during the quarter, compared to analyst estimates of $299.75 million. During the same period last year, the firm posted $0.20 EPS. The business’s revenue was up 2.3% compared to the same quarter last year. equities analysts anticipate that Extended Stay America will post 1.1 EPS for the current fiscal year.

Extended Stay America announced that its Board of Directors has authorized a stock repurchase program on Tuesday, February 27th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the company to reacquire shares of its stock through open market purchases. Shares repurchase programs are often an indication that the company’s board believes its stock is undervalued.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 27th. Investors of record on Tuesday, March 13th were issued a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 4.25%. The ex-dividend date was Monday, March 12th. Extended Stay America’s dividend payout ratio (DPR) is currently 84.00%.

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About Extended Stay America

Extended Stay America, Inc is a owner/operator of company-branded hotels in North America. The Company operates in the extended stay lodging industry. The Company owns and operates approximately 700 hotel properties consisting of approximately 75,900 rooms located in 44 states across the United States of America and in Canada.

Analyst Recommendations for Extended Stay America (NYSE:STAY)

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