Zacks: Analysts Anticipate La Quinta Holdings Inc (LQ) Will Post Quarterly Sales of $223.52 Million

Wall Street brokerages expect that La Quinta Holdings Inc (NYSE:LQ) will report $223.52 million in sales for the current quarter, Zacks reports. Two analysts have provided estimates for La Quinta’s earnings, with estimates ranging from $221.34 million to $225.70 million. La Quinta posted sales of $234.27 million in the same quarter last year, which suggests a negative year-over-year growth rate of 4.6%. The firm is expected to issue its next quarterly earnings report on Wednesday, May 2nd.

According to Zacks, analysts expect that La Quinta will report full year sales of $223.52 million for the current fiscal year, with estimates ranging from $978.00 million to $995.18 million. For the next fiscal year, analysts forecast that the business will report sales of $1.03 billion per share, with estimates ranging from $1.01 billion to $1.05 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that follow La Quinta.

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La Quinta (NYSE:LQ) last released its quarterly earnings data on Wednesday, February 28th. The company reported ($0.05) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.01) by ($0.04). La Quinta had a return on equity of 4.85% and a net margin of 15.50%. The company had revenue of $214.30 million for the quarter, compared to the consensus estimate of $222.41 million. During the same period last year, the firm earned $0.01 earnings per share. The company’s revenue for the quarter was down 3.7% compared to the same quarter last year.

A number of equities analysts have commented on LQ shares. Zacks Investment Research cut shares of La Quinta from a “hold” rating to a “sell” rating in a research report on Tuesday, December 19th. Morgan Stanley raised shares of La Quinta from an “equal weight” rating to an “overweight” rating in a research report on Wednesday, January 17th. Stifel Nicolaus reissued a “hold” rating and issued a $18.00 target price (down previously from $19.00) on shares of La Quinta in a research report on Thursday, March 1st. Wells Fargo cut shares of La Quinta from an “outperform” rating to a “market perform” rating in a research report on Monday, January 22nd. Finally, Goldman Sachs raised shares of La Quinta from a “sell” rating to a “neutral” rating in a research report on Friday, January 19th. Six analysts have rated the stock with a hold rating and two have given a buy rating to the company. La Quinta currently has an average rating of “Hold” and a consensus target price of $21.00.

Several institutional investors have recently made changes to their positions in LQ. Sei Investments Co. lifted its position in La Quinta by 145.8% during the third quarter. Sei Investments Co. now owns 122,357 shares of the company’s stock worth $2,141,000 after purchasing an additional 72,586 shares during the period. New York State Common Retirement Fund lifted its position in La Quinta by 95.8% during the third quarter. New York State Common Retirement Fund now owns 308,053 shares of the company’s stock worth $5,391,000 after purchasing an additional 150,696 shares during the period. Russell Investments Group Ltd. bought a new stake in La Quinta during the third quarter worth about $690,000. SG Americas Securities LLC bought a new stake in La Quinta during the third quarter worth about $232,000. Finally, American International Group Inc. lifted its position in La Quinta by 8.1% during the third quarter. American International Group Inc. now owns 54,716 shares of the company’s stock worth $958,000 after purchasing an additional 4,091 shares during the period. 99.14% of the stock is owned by institutional investors.

LQ stock opened at $18.91 on Monday. The company has a debt-to-equity ratio of 2.02, a current ratio of 1.15 and a quick ratio of 1.15. La Quinta has a one year low of $13.06 and a one year high of $21.06. The firm has a market cap of $2,218.94, a price-to-earnings ratio of 63.03, a P/E/G ratio of 8.71 and a beta of 1.80.

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About La Quinta

La Quinta Holdings Inc is an owner, operator and franchisor of select-service hotels primarily serving the midscale and upper-midscale sectors under the La Quinta brand. The Company’s segments include owned hotels, franchise and management, and corporate and other. The owned hotels segment is engaged in the operation of owned hotel properties.

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