Brokerages Anticipate Extended Stay America (NYSE:STAY) Will Announce Quarterly Sales of $331.98 Million

Analysts forecast that Extended Stay America (NYSE:STAY) will announce $331.98 million in sales for the current quarter, according to Zacks. Five analysts have provided estimates for Extended Stay America’s earnings, with the lowest sales estimate coming in at $324.05 million and the highest estimate coming in at $337.19 million. Extended Stay America reported sales of $351.08 million during the same quarter last year, which indicates a negative year over year growth rate of 5.4%. The firm is expected to report its next earnings results on Monday, January 1st.

On average, analysts expect that Extended Stay America will report full-year sales of $1.22 billion for the current financial year, with estimates ranging from $1.21 billion to $1.24 billion. For the next financial year, analysts forecast that the business will report sales of $1.23 billion, with estimates ranging from $1.21 billion to $1.25 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that cover Extended Stay America.

Extended Stay America (NYSE:STAY) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.33 by ($0.01). The company had revenue of $323.70 million during the quarter, compared to analyst estimates of $317.12 million. During the same quarter last year, the firm posted $0.35 EPS. Extended Stay America’s revenue was down 3.8% compared to the same quarter last year.



STAY has been the topic of several recent research reports. Jefferies Financial Group lowered Extended Stay America from a “buy” rating to a “hold” rating and reduced their price target for the stock from $24.00 to $16.00 in a research report 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 stock a “buy” rating in a report on Wednesday, August 7th. Morgan Stanley cut Extended Stay America from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $20.00 to $15.00 in a report on Friday, August 9th. Barclays set a $17.00 price objective on Extended Stay America and gave the stock a “buy” rating in a report on Monday. Finally, Nomura reiterated a “buy” rating and issued a $20.00 price objective on shares of Extended Stay America in a report on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $18.55.

STAY traded up $0.24 on Friday, hitting $14.35. 2,017,893 shares of the company were exchanged, compared to its average volume of 1,836,381. The firm has a fifty day simple moving average of $16.12 and a two-hundred day simple moving average of $17.36. Extended Stay America has a 12 month low of $12.88 and a 12 month high of $21.14.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 4th. Shareholders of record on Wednesday, August 21st will be issued a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 6.41%. The ex-dividend date is Tuesday, August 20th.

In other Extended Stay America news, insider Jonathan S. Halkyard acquired 10,000 shares of the company’s stock in a transaction on Monday, August 12th. The stock was acquired at an average price of $14.63 per share, for a total transaction of $146,300.00. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. 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. Sterling Investment Advisors Ltd. purchased a new position in shares of Extended Stay America in the 2nd quarter valued at approximately $34,000. Quadrant Capital Group LLC purchased a new position in Extended Stay America during the first quarter valued at $48,000. Bamco Inc. NY purchased a new position in Extended Stay America during the second quarter valued at $84,000. First Quadrant L P CA raised its stake in Extended Stay America by 97.1% during the first quarter. First Quadrant L P CA now owns 8,562 shares of the company’s stock valued at $154,000 after buying an additional 4,217 shares during the last quarter. Finally, First Bank & Trust raised its stake in Extended Stay America by 40.0% during the first quarter. First Bank & Trust now owns 9,282 shares of the company’s stock valued at $167,000 after buying an additional 2,652 shares during the last quarter. Institutional investors own 96.67% of the company’s stock.

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.

Read More: Technical Analysis of Stocks, How Can It Help

Get a free copy of the Zacks research report on Extended Stay America (STAY)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Extended Stay America (NYSE:STAY)

Receive News & Ratings for Extended Stay America Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Extended Stay America and related companies with MarketBeat.com's FREE daily email newsletter.