Zacks: Brokerages Anticipate Extended Stay America (STAY) Will Post Earnings of $0.19 Per Share

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Equities research analysts expect Extended Stay America (NYSE:STAY) to report $0.19 earnings per share for the current fiscal quarter, Zacks Investment Research reports. Five analysts have provided estimates for Extended Stay America’s earnings. The highest EPS estimate is $0.21 and the lowest is $0.18. Extended Stay America also posted earnings of $0.19 per share during the same quarter last year. The firm is scheduled to issue its next earnings results on Monday, January 1st.

On average, analysts expect that Extended Stay America will report full year earnings of $1.12 per share for the current year, with EPS estimates ranging from $1.08 to $1.14. For the next financial year, analysts anticipate that the business will report earnings of $1.12 per share, with EPS estimates ranging from $0.98 to $1.24. Zacks Investment Research’s EPS averages are a mean average based on a survey of research analysts that that provide coverage for Extended Stay America.

Extended Stay America (NYSE:STAY) last released its earnings results on Wednesday, October 31st. The company reported $0.39 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.38 by $0.01. The business had revenue of $351.10 million during the quarter, compared to analyst estimates of $344.17 million. The business’s quarterly revenue was up .1% compared to the same quarter last year. During the same period last year, the business earned $0.35 EPS.

A number of research firms have issued reports on STAY. Bank of America raised their target price on Extended Stay America from $19.00 to $20.00 and gave the company a “neutral” rating in a report on Friday, November 2nd. JPMorgan Chase & Co. lowered their target price on Extended Stay America from $25.00 to $21.00 and set an “overweight” rating on the stock in a report on Friday, November 2nd. Zacks Investment Research lowered Extended Stay America from a “hold” rating to a “sell” rating in a report on Thursday, September 27th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and issued a $22.50 target price on shares of Extended Stay America in a report on Thursday, July 26th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $22.56.

Hedge funds have recently made changes to their positions in the business. Commonwealth Bank of Australia bought a new stake in shares of Extended Stay America in the 3rd quarter worth approximately $178,000. Iberiabank Corp bought a new stake in shares of Extended Stay America in the 3rd quarter worth approximately $251,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Extended Stay America by 35.5% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,194 shares of the company’s stock worth $307,000 after acquiring an additional 3,715 shares during the period. Meeder Asset Management Inc. lifted its position in shares of Extended Stay America by 344.6% in the 3rd quarter. Meeder Asset Management Inc. now owns 15,144 shares of the company’s stock worth $307,000 after acquiring an additional 11,738 shares during the period. Finally, Tiverton Asset Management LLC bought a new stake in shares of Extended Stay America in the 2nd quarter worth approximately $319,000. Institutional investors own 96.67% of the company’s stock.

STAY opened at $18.48 on Monday. Extended Stay America has a 12-month low of $15.73 and a 12-month high of $22.58.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 29th. Shareholders of record on Thursday, November 15th will be given a $0.22 dividend. The ex-dividend date of this dividend is Wednesday, November 14th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 4.76%.

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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