Extended Stay America (STAY) Expected to Post Earnings of $0.17 Per Share

Brokerages expect Extended Stay America (NYSE:STAY) to report earnings per share (EPS) of $0.17 for the current fiscal quarter, according to Zacks. Five analysts have provided estimates for Extended Stay America’s earnings. The lowest EPS estimate is $0.15 and the highest is $0.19. Extended Stay America reported earnings per share of $0.19 in the same quarter last year, which indicates a negative year-over-year growth rate of 10.5%. The business is scheduled to report its next quarterly earnings results on Monday, January 1st.

On average, analysts expect that Extended Stay America will report full-year earnings of $1.10 per share for the current financial year, with EPS estimates ranging from $1.08 to $1.13. For the next fiscal year, analysts expect that the company will report earnings of $1.15 per share, with EPS estimates ranging from $1.08 to $1.20. Zacks Investment Research’s earnings per share averages are an average based on a survey of research analysts that that provide coverage for Extended Stay America.

Extended Stay America (NYSE:STAY) last issued its earnings results on Wednesday, February 27th. The company reported $0.21 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.19 by $0.02. The company had revenue of $289.70 million during the quarter, compared to analysts’ expectations of $288.52 million. During the same period last year, the business posted $0.19 earnings per share. The company’s quarterly revenue was down 4.2% on a year-over-year basis.

STAY has been the topic of several research reports. Goldman Sachs Group upgraded shares of Extended Stay America from a “neutral” rating to a “buy” rating and set a $21.00 price target on the stock in a research report on Monday, March 4th. Morgan Stanley set a $21.00 price target on shares of Extended Stay America and gave the company a “buy” rating in a research report on Thursday, December 20th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Extended Stay America currently has a consensus rating of “Buy” and a consensus price target of $22.19.

Extended Stay America stock traded down $0.41 during mid-day trading on Friday, reaching $17.99. The company had a trading volume of 1,219,045 shares, compared to its average volume of 1,607,453. Extended Stay America has a 1 year low of $14.77 and a 1 year high of $22.58.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th will be given a $0.22 dividend. The ex-dividend date is Wednesday, March 13th. This represents a $0.88 annualized dividend and a dividend yield of 4.89%.

Several hedge funds have recently added to or reduced their stakes in the company. Fox Run Management L.L.C. increased its position in shares of Extended Stay America by 76.4% in the 4th quarter. Fox Run Management L.L.C. now owns 31,146 shares of the company’s stock worth $483,000 after purchasing an additional 13,491 shares during the last quarter. Hsbc Holdings PLC purchased a new stake in Extended Stay America in the 3rd quarter valued at $287,000. Inlet Private Wealth LLC purchased a new stake in Extended Stay America in the 4th quarter valued at $245,000. Cohen & Steers Inc. raised its position in Extended Stay America by 54.6% in the 3rd quarter. Cohen & Steers Inc. now owns 4,190,714 shares of the company’s stock valued at $84,778,000 after buying an additional 1,479,627 shares during the last quarter. Finally, Pendal Group Ltd raised its position in Extended Stay America by 14.4% in the 4th quarter. Pendal Group Ltd now owns 111,900 shares of the company’s stock valued at $1,734,000 after buying an additional 14,100 shares during the last quarter. Institutional investors and hedge funds own 96.67% of the company’s stock.

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

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