Extended Stay America, Inc. (STAY) Price Target Cut to $21.00

Extended Stay America, Inc. (NYSE:STAY) had its price target reduced by Bank of America Corporation from $24.00 to $21.00 in a research report released on Wednesday. They currently have a buy rating on the stock.

Several other research analysts have also commented on the stock. Zacks Investment Research lowered shares of Extended Stay America from a hold rating to a sell rating in a research note on Tuesday, October 17th. Robert W. Baird reaffirmed a buy rating and set a $21.00 price objective on shares of Extended Stay America in a research note on Friday, September 8th. BidaskClub raised shares of Extended Stay America from a sell rating to a hold rating in a research note on Saturday, October 7th. Deutsche Bank AG dropped their price objective on shares of Extended Stay America from $23.00 to $21.00 and set a buy rating for the company in a research note on Wednesday. Finally, ValuEngine lowered shares of Extended Stay America from a buy rating to a hold rating in a research note on Tuesday, November 7th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have issued a buy rating to the company’s stock. Extended Stay America has a consensus rating of Buy and an average target price of $20.81.

Extended Stay America (NYSE:STAY) traded down $0.69 during midday trading on Wednesday, reaching $16.81. 6,234,300 shares of the company’s stock traded hands, compared to its average volume of 2,679,637. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.11 and a quick ratio of 0.07. The stock has a market capitalization of $3,233.32, a price-to-earnings ratio of 16.64, a price-to-earnings-growth ratio of 3.03 and a beta of 1.05. Extended Stay America has a 52 week low of $14.75 and a 52 week high of $20.95.

Extended Stay America (NYSE:STAY) last posted its quarterly earnings data on Tuesday, November 7th. The company reported $0.35 EPS for the quarter, missing the consensus estimate of $0.37 by ($0.02). The firm had revenue of $350.86 million for the quarter, compared to analysts’ expectations of $359.70 million. Extended Stay America had a return on equity of 14.53% and a net margin of 5.83%. The firm’s quarterly revenue was down 1.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.36 earnings per share. research analysts anticipate that Extended Stay America will post 0.97 EPS for the current fiscal year.

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The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 5th. Stockholders of record on Tuesday, November 21st will be paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 5.00%. The ex-dividend date of this dividend is Monday, November 20th. Extended Stay America’s dividend payout ratio is currently 215.38%.

Several institutional investors and hedge funds have recently modified their holdings of the company. Caxton Associates LP boosted its stake in shares of Extended Stay America by 0.4% during the second quarter. Caxton Associates LP now owns 27,400 shares of the company’s stock valued at $530,000 after purchasing an additional 100 shares during the period. The Manufacturers Life Insurance Company raised its holdings in shares of Extended Stay America by 6.3% in the second quarter. The Manufacturers Life Insurance Company now owns 6,181 shares of the company’s stock valued at $120,000 after acquiring an additional 367 shares in the last quarter. Public Employees Retirement System of Ohio raised its holdings in shares of Extended Stay America by 3.3% in the first quarter. Public Employees Retirement System of Ohio now owns 28,640 shares of the company’s stock valued at $457,000 after acquiring an additional 918 shares in the last quarter. Paragon Capital Management Ltd raised its holdings in shares of Extended Stay America by 15.1% in the second quarter. Paragon Capital Management Ltd now owns 11,589 shares of the company’s stock valued at $224,000 after acquiring an additional 1,521 shares in the last quarter. Finally, Reinhart Partners Inc. raised its holdings in shares of Extended Stay America by 1.4% in the second quarter. Reinhart Partners Inc. now owns 141,590 shares of the company’s stock valued at $2,741,000 after acquiring an additional 1,980 shares in the last quarter.

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.

Analyst Recommendations for Extended Stay America (NYSE:STAY)

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