Extended Stay America (STAY) Expected to Announce Earnings of $0.39 Per Share

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Equities research analysts expect Extended Stay America (NYSE:STAY) to report earnings of $0.39 per share for the current fiscal quarter, according to Zacks Investment Research. Five analysts have provided estimates for Extended Stay America’s earnings, with the highest EPS estimate coming in at $0.40 and the lowest estimate coming in at $0.38. Extended Stay America posted earnings of $0.35 per share during the same quarter last year, which would indicate a positive year-over-year growth rate of 11.4%. The firm is expected to issue its next quarterly earnings results on Monday, January 1st.

According to Zacks, analysts expect that Extended Stay America will report full year earnings of $1.14 per share for the current fiscal year, with EPS estimates ranging from $1.11 to $1.16. For the next year, analysts forecast that the company will post earnings of $1.21 per share, with EPS estimates ranging from $1.11 to $1.41. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side analysts that that provide coverage for Extended Stay America.

Extended Stay America (NYSE:STAY) last issued its earnings results on Wednesday, July 25th. The company reported $0.35 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.34 by $0.01. Extended Stay America had a net margin of 5.47% and a return on equity of 15.18%. The business had revenue of $336.50 million during the quarter, compared to the consensus estimate of $336.68 million. During the same period last year, the business posted $0.31 EPS. Extended Stay America’s revenue was down .5% on a year-over-year basis.

STAY has been the subject of several recent analyst reports. Robert W. Baird reiterated a “buy” rating and issued a $22.00 target price on shares of Extended Stay America in a research note on Thursday, April 19th. Morgan Stanley raised their target price on shares of Extended Stay America from $20.00 to $21.00 and gave the company an “equal weight” rating in a research note on Monday, April 30th. Zacks Investment Research downgraded shares of Extended Stay America from a “buy” rating to a “hold” rating in a research note on Monday, July 30th. JPMorgan Chase & Co. raised their target price on shares of Extended Stay America from $24.00 to $25.00 and gave the company an “overweight” rating in a research note on Friday, July 27th. Finally, Jefferies Financial Group initiated coverage on shares of Extended Stay America in a research note on Thursday, May 31st. They issued a “buy” rating and a $26.00 target price for the company. One analyst has rated the stock with a sell rating, two have given a hold rating and nine have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $22.95.

In other Extended Stay America news, Director Richard F. Wallman sold 15,000 shares of the stock in a transaction dated Thursday, August 2nd. The shares were sold at an average price of $21.49, for a total value of $322,350.00. Following the transaction, the director now directly owns 110,798 shares of the company’s stock, valued at approximately $2,381,049.02. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Ames Flynn sold 1,390 shares of the stock in a transaction dated Thursday, August 2nd. The shares were sold at an average price of $21.47, for a total transaction of $29,843.30. Following the completion of the transaction, the insider now directly owns 55,713 shares in the company, valued at $1,196,158.11. The disclosure for this sale can be found here. 0.72% of the stock is owned by corporate insiders.

Institutional investors have recently added to or reduced their stakes in the business. Hilltop Holdings Inc. bought a new position in shares of Extended Stay America during the first quarter worth approximately $201,000. Bayesian Capital Management LP bought a new position in shares of Extended Stay America during the first quarter worth approximately $293,000. Asset Management One Co. Ltd. increased its holdings in shares of Extended Stay America by 119.1% during the first quarter. Asset Management One Co. Ltd. now owns 15,339 shares of the company’s stock worth $303,000 after purchasing an additional 8,339 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings 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 worth $307,000 after purchasing an additional 3,715 shares during the period. Finally, Tiverton Asset Management LLC bought a new position in shares of Extended Stay America during the second quarter worth approximately $319,000. 96.67% of the stock is currently owned by hedge funds and other institutional investors.

NYSE:STAY traded down $0.13 during mid-day trading on Friday, hitting $21.08. The stock had a trading volume of 1,113,114 shares, compared to its average volume of 1,654,043. Extended Stay America has a twelve month low of $16.27 and a twelve month high of $22.58. The company has a market capitalization of $4.16 billion, a P/E ratio of 21.08, a price-to-earnings-growth ratio of 2.54 and a beta of 0.96. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.19 and a current ratio of 0.19.

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 23rd. Shareholders of record on Thursday, August 9th will be issued a $0.22 dividend. The ex-dividend date is Wednesday, August 8th. This represents a $0.88 annualized dividend and a yield of 4.17%. Extended Stay America’s dividend payout ratio is currently 88.00%.

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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