Shares of Extended Stay America (NYSE:STAY) reached a new 52-week high and low on Thursday . The stock traded as low as $22.33 and last traded at $21.89, with a volume of 77160 shares trading hands. The stock had previously closed at $22.25.
Several analysts have recently weighed in on STAY shares. Morgan Stanley lifted their price objective on shares of Extended Stay America from $19.00 to $20.00 and gave the company an “equal weight” rating in a research note on Monday, April 9th. Robert W. Baird reiterated a “buy” rating and issued a $22.00 price objective on shares of Extended Stay America in a research note on Thursday, April 19th. Zacks Investment Research upgraded shares of Extended Stay America from a “hold” rating to a “buy” rating and set a $22.00 price objective for the company in a research note on Wednesday, February 21st. Barclays reiterated an “overweight” rating and issued a $22.00 price objective (up previously from $21.00) on shares of Extended Stay America in a research note on Wednesday, February 28th. Finally, ValuEngine upgraded shares of Extended Stay America from a “hold” rating to a “buy” rating in a research note on Monday, April 2nd. One investment analyst has rated the stock with a sell rating, one has given a hold rating and ten have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $22.15.
The company has a market cap of $4.16 billion, a P/E ratio of 21.76, 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.
Extended Stay America (NYSE:STAY) last announced its quarterly earnings results on Thursday, April 26th. The company reported $0.19 EPS for the quarter, beating the Zacks’ consensus estimate of $0.17 by $0.02. The business had revenue of $298.00 million during the quarter, compared to analyst estimates of $292.38 million. Extended Stay America had a net margin of 5.47% and a return on equity of 15.18%. Extended Stay America’s quarterly revenue was up 2.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.35 EPS. equities analysts forecast that Extended Stay America will post 1.15 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, May 25th. Shareholders of record on Friday, May 11th were paid a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 4.04%. The ex-dividend date of this dividend was Thursday, May 10th. This is a positive change from Extended Stay America’s previous quarterly dividend of $0.21. Extended Stay America’s payout ratio is 88.00%.
Extended Stay America announced that its Board of Directors has approved a share buyback plan on Tuesday, February 27th that allows the company to buyback $100.00 million in shares. This buyback authorization allows the company to reacquire shares of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.
A number of hedge funds have recently made changes to their positions in the business. Allianz Asset Management GmbH increased its stake in Extended Stay America by 24.7% during the 1st quarter. Allianz Asset Management GmbH now owns 126,025 shares of the company’s stock valued at $2,492,000 after purchasing an additional 24,940 shares in the last quarter. Xact Kapitalforvaltning AB grew its stake in shares of Extended Stay America by 43.3% in the 1st quarter. Xact Kapitalforvaltning AB now owns 25,813 shares of the company’s stock worth $510,000 after acquiring an additional 7,800 shares in the last quarter. Brookfield Asset Management Inc. bought a new stake in shares of Extended Stay America in the 1st quarter worth $95,416,000. Millennium Management LLC grew its stake in shares of Extended Stay America by 101.9% in the 1st quarter. Millennium Management LLC now owns 5,648,993 shares of the company’s stock worth $111,681,000 after acquiring an additional 2,851,026 shares in the last quarter. Finally, Hilltop Holdings Inc. bought a new stake in shares of Extended Stay America in the 1st quarter worth $201,000. Institutional investors and hedge funds own 96.80% of the company’s stock.
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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