Extended Stay America (STAY) Expected to Announce Quarterly Sales of $349.22 Million

Equities research analysts forecast that Extended Stay America (NYSE:STAY) will post $349.22 million in sales for the current fiscal quarter, Zacks reports. Five analysts have issued estimates for Extended Stay America’s earnings, with estimates ranging from $347.90 million to $350.00 million. Extended Stay America reported sales of $350.87 million during the same quarter last year, which indicates a negative year-over-year growth rate of 0.5%. The firm is expected to report its next quarterly earnings report on Monday, January 1st.

According to Zacks, analysts expect that Extended Stay America will report full-year sales of $1.28 billion for the current financial year, with estimates ranging from $1.27 billion to $1.28 billion. For the next financial year, analysts expect that the company will report sales of $1.28 billion per share, with estimates ranging from $1.23 billion to $1.30 billion. Zacks’ sales calculations are a mean average based on a survey of research firms that follow Extended Stay America.

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

STAY has been the topic of several research analyst reports. Jefferies Financial Group initiated coverage on Extended Stay America in a research report on Thursday, May 31st. They set a “buy” rating and a $26.00 price target on the stock. Morgan Stanley upgraded Extended Stay America from an “equal” rating to an “overweight” rating and set a $23.00 price target on the stock in a research report on Thursday, May 31st. Robert W. Baird reiterated a “buy” rating and set a $22.00 price target on shares of Extended Stay America in a research report on Thursday, April 19th. JPMorgan Chase & Co. lifted their price target on Extended Stay America from $24.00 to $25.00 and gave the company an “overweight” rating in a research report on Friday, July 27th. Finally, Zacks Investment Research upgraded Extended Stay America from a “hold” rating to a “buy” rating and set a $24.00 price target on the stock in a research report on Monday, July 2nd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and nine have issued a buy rating to the stock. Extended Stay America has a consensus rating of “Buy” and a consensus price target of $22.95.

Shares of Extended Stay America traded down $0.13, hitting $21.08, during mid-day trading on Tuesday, Marketbeat.com reports. 1,113,114 shares of the stock traded hands, 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 stock has a market cap of $4.16 billion, a PE 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 company also recently declared a quarterly dividend, which will be paid on Thursday, August 23rd. Stockholders of record on Thursday, August 9th will be given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 4.17%. The ex-dividend date is Wednesday, August 8th. Extended Stay America’s dividend payout ratio (DPR) is presently 88.00%.

In other news, Director Richard F. Wallman sold 15,000 shares of the firm’s stock in a transaction on Thursday, August 2nd. The stock was sold at an average price of $21.49, for a total transaction of $322,350.00. Following the completion of the sale, 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 filing with the SEC, which is accessible through this hyperlink. Also, insider Ames Flynn sold 1,390 shares of the firm’s stock in a transaction on Thursday, August 2nd. The stock was sold at an average price of $21.47, for a total value of $29,843.30. Following the sale, the insider now directly owns 55,713 shares of the company’s stock, valued at $1,196,158.11. The disclosure for this sale can be found here. Company insiders own 0.72% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. UBS Group AG boosted its stake in shares of Extended Stay America by 81.1% during the 1st quarter. UBS Group AG now owns 960,218 shares of the company’s stock worth $18,984,000 after acquiring an additional 430,144 shares in the last quarter. Brookfield Asset Management Inc. bought a new stake in shares of Extended Stay America during the 1st quarter worth $95,416,000. Rhumbline Advisers boosted its stake in shares of Extended Stay America by 4.1% during the 1st quarter. Rhumbline Advisers now owns 198,916 shares of the company’s stock worth $3,933,000 after acquiring an additional 7,760 shares in the last quarter. Prudential Financial Inc. boosted its stake in shares of Extended Stay America by 48.9% during the 1st quarter. Prudential Financial Inc. now owns 423,458 shares of the company’s stock worth $8,372,000 after acquiring an additional 139,113 shares in the last quarter. Finally, Asset Management One Co. Ltd. boosted its stake in shares of Extended Stay America by 119.1% during the 1st quarter. Asset Management One Co. Ltd. now owns 15,339 shares of the company’s stock worth $303,000 after acquiring an additional 8,339 shares in the last quarter. 96.67% of the stock is owned by institutional investors and hedge funds.

About Extended Stay America

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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