Brokerages expect Extended Stay America, Inc. (NYSE:STAY) to post sales of $343.63 million for the current fiscal quarter, Zacks Investment Research reports. Four analysts have made estimates for Extended Stay America’s earnings. The highest sales estimate is $346.40 million and the lowest is $340.66 million. Extended Stay America posted sales of $332.79 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 3.3%. The business is scheduled to issue its next quarterly earnings report on Monday, January 1st.
According to Zacks, analysts expect that Extended Stay America will report full-year sales of $343.63 million for the current financial year, with estimates ranging from $1.29 billion to $1.31 billion. For the next financial year, analysts expect that the company will report sales of $1.33 billion per share, with estimates ranging from $1.33 billion to $1.34 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that that provide coverage for Extended Stay America.
Extended Stay America (NYSE:STAY) last announced its earnings results on Thursday, April 27th. The company reported $0.15 EPS for the quarter, beating the Zacks’ consensus estimate of $0.12 by $0.03. Extended Stay America had a net margin of 5.96% and a return on equity of 14.43%. The business had revenue of $291 million during the quarter, compared to analysts’ expectations of $290.20 million. During the same period in the prior year, the company earned $0.13 earnings per share. The firm’s revenue was up 1.2% on a year-over-year basis.
Several analysts have commented on the stock. BidaskClub upgraded shares of Extended Stay America from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, June 27th. Stifel Nicolaus restated a “buy” rating and set a $21.00 price objective (up from $20.00) on shares of Extended Stay America in a research note on Thursday, June 29th. Zacks Investment Research upgraded shares of Extended Stay America from a “hold” rating to a “buy” rating and set a $21.00 price objective for the company in a research note on Tuesday, June 20th. ValuEngine upgraded shares of Extended Stay America from a “hold” rating to a “buy” rating in a research note on Saturday, May 27th. Finally, TheStreet upgraded shares of Extended Stay America from a “c+” rating to a “b” rating in a research note on Friday, May 5th. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $19.00.
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In related news, major shareholder Paulson & Co. Inc. sold 10,250,000 shares of the business’s stock in a transaction on Wednesday, May 3rd. The shares were sold at an average price of $17.23, for a total value of $176,607,500.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.49% of the company’s stock.
Large investors have recently modified their holdings of the company. Meeder Asset Management Inc. bought a new stake in shares of Extended Stay America during the first quarter valued at approximately $105,000. Asset Management One Co. Ltd. raised its stake in shares of Extended Stay America by 134.4% in the first quarter. Asset Management One Co. Ltd. now owns 7,500 shares of the company’s stock valued at $120,000 after buying an additional 4,300 shares during the last quarter. Envestnet Asset Management Inc. raised its stake in shares of Extended Stay America by 50.7% in the first quarter. Envestnet Asset Management Inc. now owns 7,898 shares of the company’s stock valued at $126,000 after buying an additional 2,658 shares during the last quarter. TLP Group LLC bought a new stake in shares of Extended Stay America during the first quarter valued at approximately $135,000. Finally, Paragon Capital Management Ltd bought a new stake in shares of Extended Stay America during the first quarter valued at approximately $160,000. 92.12% of the stock is owned by institutional investors.
Shares of Extended Stay America (NYSE:STAY) traded down 0.31% during mid-day trading on Friday, reaching $19.17. 2,439,789 shares of the company’s stock were exchanged. The company’s 50-day moving average price is $18.47 and its 200-day moving average price is $17.16. The company has a market capitalization of $3.72 billion, a PE ratio of 23.10 and a beta of 1.06. Extended Stay America has a one year low of $13.00 and a one year high of $19.98.
Extended Stay America Company Profile
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.
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