Equities research analysts forecast that Extended Stay America (NYSE:STAY) will post earnings of $0.36 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 $0.36 and the lowest is $0.35. Extended Stay America posted earnings per share of $0.39 in the same quarter last year, which would indicate a negative year-over-year growth rate of 7.7%. The business is scheduled to issue its next earnings results after the market closes on Wednesday, November 6th.
On average, analysts expect that Extended Stay America will report full-year earnings of $1.03 per share for the current financial year, with EPS estimates ranging from $1.01 to $1.05. For the next financial year, analysts anticipate that the firm will report earnings of $1.03 per share, with EPS estimates ranging from $0.91 to $1.10. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research analysts that cover Extended Stay America.
Extended Stay America (NYSE:STAY) last issued its earnings results on Tuesday, August 6th. The company reported $0.32 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.33 by ($0.01). The business had revenue of $323.70 million during the quarter, compared to analysts’ expectations of $317.12 million. The company’s quarterly revenue was down 3.8% on a year-over-year basis. During the same period last year, the firm posted $0.35 earnings per share.
Several research analysts have recently issued reports on the company. Nomura reaffirmed a “buy” rating and issued a $20.00 price objective on shares of Extended Stay America in a research note on Thursday, August 8th. Robert W. Baird set a $19.00 price objective on Extended Stay America and gave the company a “buy” rating in a research note on Wednesday, August 7th. Jefferies Financial Group downgraded Extended Stay America from a “buy” rating to a “hold” rating and lowered their price objective for the company from $24.00 to $16.00 in a research note on Thursday, August 8th. They noted that the move was a valuation call. Deutsche Bank set a $22.00 price objective on Extended Stay America and gave the company a “buy” rating in a research note on Wednesday, August 7th. Finally, Stifel Nicolaus lowered their price objective on Extended Stay America from $20.50 to $18.00 and set a “buy” rating for the company in a research note on Wednesday, August 7th. One analyst has rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $18.00.
Shares of Extended Stay America stock traded down $0.22 on Tuesday, hitting $14.23. The stock had a trading volume of 1,436,320 shares, compared to its average volume of 1,848,415. The stock has a 50 day moving average of $14.52 and a 200 day moving average of $16.22. Extended Stay America has a twelve month low of $12.88 and a twelve month high of $19.73.
In other Extended Stay America news, insider Kevin A. Henry sold 7,500 shares of the stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $13.86, for a total transaction of $103,950.00. Following the completion of the sale, the insider now owns 108,683 shares of the company’s stock, valued at approximately $1,506,346.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jonathan S. Halkyard bought 10,000 shares of the firm’s stock in a transaction on Monday, August 12th. The shares were purchased at an average cost of $14.63 per share, with a total value of $146,300.00. The disclosure for this purchase can be found here. Corporate insiders own 0.72% of the company’s stock.
Large investors have recently added to or reduced their stakes in the business. Echo Street Capital Management LLC increased its position in Extended Stay America by 3.6% during the 2nd quarter. Echo Street Capital Management LLC now owns 1,454,161 shares of the company’s stock valued at $24,561,000 after purchasing an additional 51,057 shares during the period. Jane Street Group LLC increased its position in Extended Stay America by 389.2% during the 2nd quarter. Jane Street Group LLC now owns 85,035 shares of the company’s stock valued at $1,436,000 after purchasing an additional 67,654 shares during the period. Commonwealth Bank of Australia increased its position in Extended Stay America by 35.2% during the 2nd quarter. Commonwealth Bank of Australia now owns 11,900 shares of the company’s stock valued at $200,000 after purchasing an additional 3,100 shares during the period. Sterling Capital Management LLC boosted its holdings in shares of Extended Stay America by 1,521.8% during the 2nd quarter. Sterling Capital Management LLC now owns 2,506,980 shares of the company’s stock worth $42,343,000 after buying an additional 2,352,398 shares in the last quarter. Finally, Strs Ohio boosted its holdings in shares of Extended Stay America by 36.2% during the 2nd quarter. Strs Ohio now owns 20,439 shares of the company’s stock worth $345,000 after buying an additional 5,435 shares in the last quarter. 96.67% of the stock is owned by institutional investors and hedge funds.
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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